Removing Barriers Blog

CUNA Writes Letter of Support for H.R. 1661 to Increase Maturity Limits
Posted March 11, 2019 by CUNA Advocacy

CUNA wrote to Representatives Zeldin and Gonzales in support of their recently introduced legislation – H.R. 1661, a bill that would amend the Federal Credit Union Act to provide the NCUA with the flexibility to increase loan maturity limits for federal credit unions. 

Longer maturity limits for federal credit union loans would allow credit unions to better service members.  As stated in the letter, one area that this change may impact is student lending. The ability to set a longer loan maturity for Federal credit union loans would provide student borrowers across the country with more opportunities for education that is more affordable both in the short and long term.

Additionally, credit unions would also be able to better service loans for the agricultural sector and other businesses requiring significant cost of entry.