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News Archive

Credit unions continue efforts to pass business lending bill


Credit unions are continuing their advocacy with Wisconsin's U.S. Senators Herb Kohl and Ron Johnson, sharing local stories that underscore the need for small business access to credit. Their effort, aimed at passing the federal Credit Union Small Business Jobs Bill, would increase the arbitrary cap on credit unions' member business lending. The measure would extend $408 million of new credit to Wisconsin businesses and 4,437 jobs in the first year alone at no cost to taxpayers.

 

Wisconsin credit unions' latest efforts have included:

 

Letters

  • Landmark CU coordinated more than 660 letters to the Senators. Shoreline CU sent 75 letters.

 

Meetings

  • Summit CU invited Senator Johnson's district staff to visit the business lending department of their Waunakee branch to share how raising the cap would directly benefit their members and local small businesses.

 

Links

  • Bull's Eye  and Lakeview CUs have links to email both Senators as a rotating ad on their homepages. Heartland Credit Union's site, which also includes an action link, features a video with several small business people telling their stories.

 

Publications

  • Central City CU featured a story in its newsletter about one of its business borrowers operating a dog kennel , along with a call to action to contact both Senators. The story was picked up by Neighbors magazine (p. 44-46) The League has a sample article it urges all Wisconsin credit unions to publish that includes a call to action.

 

These efforts are in addition to a slew of others by credit unions that we've reported on previously. All Wisconsin credit unions have been urged to follow a few key steps to engage their employees, directors and members in the advocacy effort.

 

Please share details about your credit union's advocacy efforts with Sarah Wainscott so that we can feature them in future updates. We need and appreciate everyone's commitment!


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