Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Co-op cyclers in Wisconsin endorse MBL bill
MADISON, Wis. (8/7/12)--The Co-cycle Project, a student-led, bike-powered tour linking cooperatives across the U.S., stopped at the Credit Union National Association (CUNA) in Madison, Wis., Monday afternoon to present a certificate endorsing member business lending (MBL) legislation.

Click to view larger image Charlotte Cadieux, second from left, who graduated from Hampshire College in Amherst, Mass., this spring, read a proclamation Monday at the Credit Union National Association headquarters in Madison, Wis., from the U.S Federation of Worker Cooperatives, endorsing SB 2231 and HR 1418 to increase credit unions' ability to provide member business loans (MBLs) to small businesses. Cadieux is one of the 20 or so college student bikers from the Co-cycle Project, conducted in honor of the 2012 United Nations International Year of Cooperatives.
The coast-to-coast tour promoting U.S. cooperatives--which are celebrating 2012 as the United Nations International Year of Cooperatives--has received strong support from credit unions and is seeking more credit union assistance as it moves from the West Coast to the East Coast.

The tour was organized by students of Hampshire College, which is one of the membership groups served by UMass College Five FCU, Amherst, Mass. Among the groups making donations to the tour was the Massachusetts Credit Union League (News Now June 11).

With bikes in tow, the students from Massachusetts were formally greeted by Dane County (Wis.) Executive Joe Parisi; Madison, Wis., Mayor Paul Soglin, CUNA and CUNA Mutual Group. Local Madison co-ops were at the event. 

One of the 20 or so college student bikers, Charlotte Cadieux, who just graduated from Hampshire College, with a degree in climate change education, read a proclamation from the U.S Federation of Worker Cooperatives, authored by Executive Director Melissa Hoover. The proclamation, endorsed SB 2231 and HR 1418, which aim to increase credit unions' ability to provide MBLs to small businesses.

Jill Tomalin, CUNA senior vice president of association services, accepted the written proclamation from Cadieux.

Soglin and Parisi each welcomed the bikers to Madison, saying the local area is a great supporter of bicycling and cooperatives.  

The bikers had traveled from nearby Devils Lake State Park in Baraboo, Wis., to Madison, and arrived in the mid-afternoon. The group will stay in Madison until Thursday, and visit cooperatives in the Madison area.

The tour started June 2 in San Francisco. UMass Five FCU will host Co-Cycle's final stop in Amherst, Mass., on Sept. 3.

Click to view larger image Madison, Wis., Mayor Paul Soglin Monday welcomed the Co-cycle Project--a college-student-led, bike-powered tour linking co-operatives across the U.S.--to the Credit Union National Association's Madison office, saying the local area is a great supporter of bicycling and cooperatives. (Photos provided by CUNA)
The journey consists of regional legs, with each leg divided by events in key locations along the route. Events are hosted by different communities and some have included educational workshops or public showcases of cooperatives.

Earlier this summer, another bicycle tour on the East Coast also celebrated the International Year of Cooperatives. The Cabot 2012 East Coast Community Tour was a 2,300-mile bicycle trek along the East Coast Greenway. That tour started in Miami on May 12 and ended on July 7 in Portland, Maine. Cabot Creamery Cooperative is one of the sponsors of the Credit Union National Association's weekly Home & Family Finance Radio Show.

CUNA and credit unions are urging Congress to increase credit unions' MBL cap to 27.5% of assets from 12.25%. Doing so would open up more opportunity to offer MBLs, inject $13 billion in business loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers, CUNA said.
Other Resources

RSS print
News Now LiveWire
#NewsNow: @CFPB offers tips for consumers who think their credit/debit cards have been hacked. http://t.co/rHnfYkJPIj
13 hours ago
See who's 1st to earn @CUNA's new biz development designation #NewsNow http://t.co/vn5ch4HkRC
15 hours ago
Joe Bergeron, president/CEO of the Association of Vt. CUs, has been re-elected to the board of the @NCBACLUSA
15 hours ago
NCUA reminds: CU managers/directors looking to improve leadership skills still can register 4 Leadership Boot Camps. http://t.co/0AUtIpWNqr
15 hours ago
Australia's Customer Owned Banking Association is @fileneresearch 's latest Gold benefactor.
17 hours ago