Statement by CUNA President and CEO Bill Cheney on Business Lending Legislation

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Patrick Keefe - CUNA Communications; (202) 508-6765;

Common sense economic recovery and job creation measure.

Our sincere thanks to Sen. Mark Udall (D-Colo) for introducing the Small Business Lending Enhancement Act today. His long-standing support for this commonsense economic recovery and job creation measure would allow credit unions with experience in business lending to continue to lend to their small business members, without increasing the size of government. This legislation says to credit unions that stood with their business-owning members during the recent Great Recession to “keep lending; keep serving the bakeries, the gas stations, the florists, and the carpenters; keep helping the restaurant owners, plumbers, independent grocers and shopkeepers.” That’s what this legislation attempts to do: Help credit unions serve their business-owning members and their businesses. Credit unions have capital to lend, a history of prudent and safe small business lending, and a mission to help provide access to credit to their members—including their small business-owning members. They just need Congress to enact Sen. Udall’s bipartisan legislation, as well as similar legislation pending in the House by Reps. Ed Royce and Carolyn McCarthy.

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