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News Now

CU System
CUs Part Of Pa. Lawmaker's Small Biz Seminar
HARRISBURG, Pa. (6/3/13)--Two Philadelphia area credit unions participated in a Small Business Opportunities & Resources Seminar hosted Thursday by Pennsylvania state Rep. W. Curtis Thomas (D-Philadelphia) in Philadelphia, according to the Pennsylvania Credit Union Association.

Representatives from $1.278 billion asset American Heritage FCU and $1.4 billion asset TruMark FCU participated in the event at Temple University's Fox School of Business (Life is a Highway May 31).

Thomas is minority chairman of the House Commerce Committee and an advocate for credit unions, said PCUA.

The seminar attracted 100 small business owners and those looking to start a business. It provided entrepreneurs with information on city, state, federal and private opportunities for contracting, certification, financing, tax credits, economic zones, technical assistance and special programs/initiatives.

Credit unions are looking for more opportunities to provide members with small businesses services such as member business loans (MBLs). The Credit Union National Association, state associations and credit unions are urging Congress to raise the 12.25%-of-assets cap on MBLs to 27.5%. Doing so would generate about $13 billion in new business loans and 140,000 new jobs into the economy without costing taxpayers a dime.
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