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Bonamici touts MBLs in House-seat contest

WASHINGTON (1/31/12)—Congressional candidate Suzanne Bonamici (D) has made lifting the credit union member business lending (MBL) cap a key part of her campaign, and Oregon's credit unions, the Northwest Credit Union Association (NWCUA) and the Credit Union National Association (CUNA) have, in turn, supported the long-time credit union backer ahead of today's special election contest.

Bonamici, a Beaverton, Ore.-based state senator and frequent credit union supporter, is facing Republican candidate Rob Cornilles, who sits on a regional Umpqua Bank board. The winner of today's special election will claim the U.S. House seat of former Rep. David Wu (D), who resigned last year. Oregon's first district extends from the greater Portland area into Yamhill, Washington, and Columbia counties, as well as the coastal county of Clatsop. It is a largely Democratic district.



In a YouTube clip, Bonamici said that improving access to capital for businesses would be her first priority if she is elected to Congress, and added she would "champion" legislation that lifts the MBL cap. She has also publicly backed increasing the MBL cap in debates and interviews with the press, telling Oregon Public Broadcasting that an MBL cap lift could improve access to small business funding without adding any new costs for the government.

NWCUA Director of Legislative Advocacy Jennifer Wagner said the association is "is honored to be supporting Suzanne Bonamici for Congress," and said her experience in the state legislature and long-term relationship with credit unions made her "a quick study on the federal issues of importance to Oregon credit unions."

Oregon credit unions have supported Bonamici with phone bank volunteer efforts and door-to-door neighborhood canvassing. Hundreds of volunteers knocked on doors and made phone calls to voters, and northwest credit unions have also financially backed her campaign.

Bonamici has been endorsed by the Oregonian, and is widely thought to be the favorite. Mail-in votes are accepted for this election, and The Daily Astorian said 30% of those ballots had been cast as of Friday.

Through its Credit Union Legislative Action Council—or CULAC, CUNA will continue to aggressively support credit union friends in next fall's election, when the presidency, congressional seats, and state and local positions will all be at stake.
 
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