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CU System
CUANY municipal deposits on senators TV show
ALBANY, N.Y. (6/3/10)--Amy Kramer, vice president of governmental affairs for the Credit Union Association of New York, taped a segment last week of State Sen. Kevin Parker’s (D-Metropolitan) “Legislative Update” show, discussing credit unions and municipal depository choice.
Click to view larger image Amy Kramer (right), vice president of governmental affairs for the Credit Union Association of New York, talks about municipal depository choice with New York State Sen. Kevin Parker on the set of his weekly “Legislative Update” show. (Photo provided by the Credit Union Association of New York)
Kramer and Parker’s conversation focused on the credit union difference: how credit unions operate, the advantages of credit union membership, and legislative issues affecting New York credit unions. The conversation then turned specifically to municipal depository choice. Parker is a strong proponent of municipal depository choice, said the association. He is the lead sponsor of legislation (S.1782A) that would allow local government entities such as cities, town, counties, school districts, fire districts and public libraries to deposit tax dollars in their local credit unions or savings banks. He also had a direct role in the state Senate’s inclusion of municipal depository choice legislation in its 2010-2011 budget resolution. A long-time supporter of credit unions, Parker talked about the credit and jobs crisis that prevails in his district. He said he felt strongly that the way to turn things around in his and other communities is to end the lending crisis by getting credit moving into the hands of small business and homeowners, entrepreneurs and ordinary members of the community. Credit unions, given the opportunity to become depository options for municipalities, are uniquely positioned to do just that, he added. Municipal deposit reform would help local governments save revenue, by providing local choice, expanding their investment options, and creating more competition. Such reform also would encourage more funds to stay local through community reinvestment, creating more opportunities for local residents to take out personal or small business loans, the association said.


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