MADISON, Wis. (1/26/12)--The Wisconsin Senate--in a unanimous vote--passed a bill that will allow credit unions to increase their levels of support for charitable and community organizations.
Senate Bill 356 and its companion bill, Assembly Bill 468, both garnered strong bipartisan support and are co-sponsored by 33 lawmakers, said the Wisconsin Credit Union League.
More than 200 credit union activists were visiting lawmakers at the State Capitol as the vote occurred. They were there to seek support for the legislation and share their 2011 REAL Solutions Scorecard, which details their stories of community service, said the league.
"Wisconsin's member-owned financial institutions are vested in and committed to making significant contributions to the communities they serve," said league President/CEO Brett Thompson. "Increasing the amount they can give to charitable and community causes will ensure they can continue to do so long into the future.
Authors of the bill are State Sen. Glen Grothman (R-20) and State Rep. Dale Kooyenga (R-14). They and state senators who voted in support of the measure "helped pave the way for the adoption of a policy that will allow credit unions to continue to be highly active in their communities in a thoughtful and measured way--at no cost to taxpayers," he added.