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News Archive

Push to advance biz lending bill includes November D.C. visit


The credit union movement’s largest push yet to pass the Credit Union Small Business Jobs Bill (S.B. 2231/H.R. 1418) is just days away. That’s because Congress is likely to take action on a number of issues during the Lame Duck session—between Thanksgiving and Christmas. Credit unions are urged to take part in our fly-in to D.C. Nov. 27-28 and activate other grassroots activity to ensure we bring desperately needed credit to Wisconsin's small businesses.

 

The Credit Union Small Business Jobs Bill, which will raise credit unions' member business lending (MBL) cap from 12.25% to 27.5% of total assets, is expected to get a vote in the U.S. Senate—then quickly move to the U.S. House—before year's end. The measure will add $458 million in new credit and almost 5,000 new jobs in Wisconsin in the first year alone, at no cost to taxpayers.

 

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Credit unions will have to compete with hundreds of other issues fighting for attention during the Lame Duck session. Bankers will also travel to D.C. (click the video, right) and attempt to derail our efforts at the same time credit union Activists are there as part of our fly-in.

 

Consider these options as you prepare a plan to assure high levels of participation:

 

Hike the Hill in Washington, D.C.

 

Mark your calendar for 5 p.m. Nov. 27 through the late afternoon of Nov. 28 for credit unions' nationwide fly-in to Washington, D.C. Wisconsin must have strong representation to share the real life benefits and need for this legislation. Credit union CEOs, directors, staff and small businesses who have received a credit union business loan, were turned down by banks when seeking a business loan or could not receive a business loan from their credit union because of the MBL cap are all encouraged to attend. Contact Patrick Lonergan at (608) 514-0081 to reserve lodging in D.C.

 

From Nov. 19-Dec. 21, regardless of whether you've made prior contacts:

 

 

  • Call each of them at 1-877-642-4223 to urge their support. Once you provide your ZIP code you will be automatically directed to one of your legislators. Talking points will be provided upon calling.

 

 

  • Tweet your support using #raiseMBLcap


 

Use some of the following additional strategies  From Nov. 19-Dec. 21, please:

 

 

  • Create additional materials to involve members, such as flyers, notecards or brochures

 

 

 

 

Contact Tom Liebe at (608) 514-0082, Sarah Wainscott at (608) 514-0086 or Patrick Lonergan at (608) 514-0081 to ask questions or share your advocacy efforts.


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