Credit unions are currently limited in the amount of money they are allowed to lend to businesses—but they don't need to be. Credit unions are safe, sophisticated financial institutions, and they have an opportunity to lend money to small businesses that desperately need access to capital and are being ignored by the big banks.
Senate Bill 2231 is expected to receive a vote on the Senate floor in the coming weeks and would more than double the current limit on credit union member business lending (MBL). If Congress passes this bill to increase the statutory cap on credit union business lending, credit unions would be free to lend an additional $13 billion to small businesses, helping them create more than 140,000 new jobs in the first year alone!
Help credit unions help small business grow. Please contact your senators and urge them to support S. 2231. They need to hear from you!
To take action, visit the Grassroots Action Center, where prewritten letters are available for you to send to your legislators with just a few clicks. (If this is your first time visiting VOCUS, you will be asked to create a profile with your name, address and credit union.)
And help spread the word! RSVP to our Facebook event and invite your friends and family to take action as well.
Call Your Senators
Call your Senators at 1-877-642-4223 to leave a message asking them to support S. 2231.
- Once you provide a zip code, this number will automatically direct you to their respective Senate offices.
- Talking points will be provided upon calling, depending on co-sponsorship.
- If you are calling from Oregon, we would appreciate it if you would thank Senators Wyden and Merkley for their support. The legislation will create up to 26-hundred jobs here.
- If you are calling from Washington, please ask Senators Cantwell and Murray to support this legislation which will create up to 48-hundred jobs here.
Want More Information?
Follow along with all the latest developments in the Northwest Credit Union Association's newsletter, Anthem.
NWCUA Members, click here for more information and resources