Push to advance biz lending bill includes November D.C. visit
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.
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:
Use some of the following additional strategies From Nov. 19-Dec. 21, please:
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