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CU System briefs (08/24/2012)
  • DUBLIN, Ohio(8/27/12)--U.S. Rep. Chabot (R-Ohio) (fifth from left) visited Sharefax CU's Mason, Ohio, office, which is located in the newly drawn 1st Congressional District, according to the Ohio Credit Union League (eLumination Newsletter (Aug. 22). CEO Art Kremer and 15 credit union leaders last week discussed regulatory burden, small businesses, the federal budget, the upcoming elections, gridlock in Congress, and the potential for moving much-needed credit union legislation before the end of the year. Chabot noted that any legislation would likely be taken up in a lame duck session after the election. Chabot is a sponsor of bills to lift credit unions' member business lending cap and to provide examination fairness, and has provided written support of credit unions' tax exempt status. League General Counsel John Kozlowski attended the meeting. The Credit Union National Association says that lifting the MBL cap to 27.5% of assets from its current 12.25% would help provide $13 billion in new small business loans and help create 140,000 new jobs at no cost to taxpayers.(Photo provided by the Ohio Credit Union League) …
  • DUBLIN, Ohio (8/27/12)--Homeland CU in Chillicothe, Ohio, hosted U.S. Rep. Steve Stivers (R-Ohio) earlier this month. During the meeting Stivers talked about his support for credit unions' member business lending (MBL) legislation and expressed appreciation for what credit unions do for their members, said the Ohio Credit Union League. Stivers said he has received pushback from credit union opponents over MBL legislation, but added his support is about doing the right thing for businesses. The Credit Union National Association has estimated that raising the MBL cap to 27.5% of assets from its current 12.25% would make available $13 billion more to small businesses and help create 140,000 jobs the first year, without affecting taxpayers. A dozen credit union staff and board members attended (eLumination Newsletter Aug. 22) …
  • ST. PAUL, Minn. (8/27/12)--
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    St. Paul (Minn.) FCU is kicking off the school year with its first student-run branch office at Como Park High School in St. Paul. The credit union has worked with the school for years helping teach students about financial literacy and offer additional business training. The in-school credit union is an extension of the school's business education program and the St. Paul FCU's work with business teachers and administrators. Staffing the branch will be, from left, St. Paul FCU School & Branch Education Coordinator Trevor Malone, and high school interns Tim Smith, a junior, and seniors Kyle Kottke and Dylan Schmidt. The branch will offer a full range of services, including check cashing, deposits, loan applications and financial assistance, and is open 10 a.m. to 1 p.m. on weekdays to serve students and faculty. Malone will oversee the student employees. (Photo provided by the Minnesota Credit Union Network) …


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