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News Archive

Act now! Your voice can push MBL bill over the finish line

 

On Nov. 28, delegates from The League and 10 Wisconsin credit unions joined credit union advocates and coalition partners in Washington, D.C. to seek support from our Members of Congress for the Credit Union Small Business Jobs Bill,  S 2231/H.R. 1418 – legislation to increase credit unions' business lending. With the clock winding down on the lame duck session, it is important to do all we can to make the legislation a priority.

The Wisconsin delegation had very productive visits with every member of our delegation or, in one case, their staff. Participants shared the negative implications that the current cap—set at 12.25% of total assets—has on their credit union members and local small businesses.

Wisconsin's Members of Congress were provided with a new document prepared by The League showing, among other things, that more than 80% of Wisconsin voters support the bill.

 

For meetings with Senator Johnson, Congressman Ribble and Congressman Duffy, representatives of the Forest Resources Association, one of the more than 30 coalition partners supporting the bill, shared the implications the lending cap has on Wisconsin's logging industry.

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Credit union Activists, League staff and coalition supporters shared information about the Credit Union Small Business Jobs Bill with Wisconsin Congresswoman Gwen Moore (seated) during a November visit to Washington, D.C.

 

The legislation has widespread bipartisan support, including from Wisconsin Reps. Tom Petri (R-Fond du Lac) and Tammy Baldwin ( D-Madison).

Only for-profit banks have opposed the bill.

 

This bill is competing with hundreds of other issues and a limited time frame. The most critical thing you can do now is help make the bill a priority with a strong grassroots response.

 

Please continue to contact your Senators and Congressman and engage your colleagues, members, and small business associates to join in making those contacts. Use The League's member business lending (MBL) resources to aid in your advocacy.

 


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