September 11, 2012
Pulling out all the stops to showcase the benefits of member business lending (MBL), credit unions will use some of their fall Hike the Hill time to invite media to a policy briefing in Washington, D.C. Wednesday. A program featuring high-level economists, federal legislators, credit union executives and small-business owners will highlight how MBL legislation will help small businesses create new jobs.
Brooke Van Vleet, president and CEO of St. Helens Community Federal Credit Union, is one of two credit union CEOs invited to present information to the media on how raising the MBL cap to 27.5 percent of assets from its current restriction of 12.25 percent will benefit local economies. Van Vleet will be joined by an Alabama credit union CEO and small-business owners from New York and California.
“For many years, our credit union has been the lender of choice for businesses in St. Helens and Columbia Counties,” Van Vleet said. “Being located in a small community allows us to build long-term relationships that can help stimulate the local economy. The pending legislation would help Oregon credit unions create more than 2,400 jobs statewide in the first year alone, at no cost to taxpayers. I look forward to participating in the upcoming press event and sharing why this issue is so important.”
The policy briefing Wednesday is being offered by the Credit Union National Association (CUNA) and "The Hill," a D.C.-based news source focused on Congress, business, lobbying and politics.
The MBL legislation currently has 140 cosponsors in the House and 21 in the Senate. Senate leadership has pledged to call for a vote on the legislation this year. Sen. Mark Udall and Rep. Ed Royce are key leaders in that movement, and they are scheduled to speak at the policy briefing Wednesday as well.
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