America’s small businesses are the engine of growth of our nation’s economy. The effects of the financial crisis of
the past few years have spread to all types of lending, resulting in a reduction in the availability of business
At a time when banks are withdrawing credit from America’s small businesses, credit unions have actually been
expanding credit to small businesses, but with more credit unions approaching the cap, this growth is threatened. It
makes economic sense to restore credit unions’ full ability to lend to their business-owning members.
Congress should enact legislation which increases the credit union member business lending cap from 12.25% of assets
to 27.5% for well-capitalized credit unions and adds significant safeguards to ensure that qualifying credit unions do
this additional lending safely and soundly. This approach has been endorsed by the Obama administration.
Please contact your Representative through the
Action Center and urge them to support H.R. 688, the Credit Union Small Business Jobs Creation.