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Australian CUs have experienced strong growth in retail deposits at the expense of their regional banking rivals. http://ow.ly/goIE
Yakima Valley CUs have benefited from larger banks troubles as membership, deposit growth, and overall presence expand. http://ow.ly/goHD
Florida Central CU names CUNA board member Laida Garcia as president, CEO. Garcia succeeds the late Ed Gallagly. See http://ow.ly/gnw7
WesCorp detailed cost-saving initiatives-- including roughly 90 layoffs--that aim to roll back expenses to 2003 levels. See July 6 NN.
Wash. State CUs have seen a 313% mortgage loan increase over the last 10 years, with lower car loan, savings deposit increases. See Mon. NN.
Immediate CU grassroots action urged for CURRA
WASHINGTON (4/28/08)—On the cusp of an important House vote on credit union regulatory relief legislation, the Credit Union National Association (CUNA) and the leagues are urging credit unions to push back banker opposition and help clear the way for H.R. 5519, the Credit Union Regulatory Relief Act (CURRA).
The House is scheduled to consider the bill Tuesday (see related story : House set for CURRA vote tomorrow) and the credit union groups urged their members to contact House lawmakers in support of CURRA.
"Unfortunately, the bill is facing opposition by the American Bankers Association and other anti-credit union interests. We need your help to secure CURRA's passage in the House of Representatives," CUNA and the leagues said in their Friday Action Alert.
It added: "The bankers have declared that credit unions can have nothing, not now or ever. We need this win to show them otherwise! "
Credit unions were asked to call or email Congress immediately with the following messages:
- H.R. 5519 should be non-controversial – most of the provisions of bill have already passed the House in 2004 and 2006. The only new provisions within CURRA are targeted to allow credit unions to serve underserved people and areas and were very recently discussed at a hearing before the House Financial Services Committee on March 6.
- This is the first major piece of credit union specific legislation to be considered in the House of Representatives since 1998.
- CURRA would help credit unions serve people and areas that do not have access to mainstream financial service providers. This is common sense. It is part of the core mission of credit unions to serve consumers, but only multiple group credit unions are eligible to serve the underserved under current law. CURRA makes all federally chartered credit unions eligible to serve the underserved areas.
- VOTE YES on H.R. 5519. This is important legislation that will help credit unions serve their members well in the 21st century.
Use the resource links below for more information.
More Washington
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