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News Now

CU System
Elections prompt N.Y. legislative voters guide
ALBANY, N.Y. (9/15/08)--The Credit Union Association of New York released its 2008 voter’s guide, which details state legislators’ records on issues affecting credit unions statewide. “We want to make sure that our members know if their local lawmakers support credit union-friendly legislation and credit unions before they go to the polls in November so they can make informed choices when voting,” said association President/CEO William Mellin. The Voters’ Guide 2008: An Insider’s Guide to the State Legislature’s Credit Union Record provides a legislative summary of the progress made on behalf of New York credit unions this year. It has leadership profiles and reveals which state lawmakers sponsored the five top bills benefiting credit unions in 2008, including:
* Municipal Depository Choice, which would allow municipalities to make deposits in credit unions; * Excelsior Linked Deposit Program, which aims to permit credit union participation in a program that allows other financial institutions to leverage state funds to make affordable loans to small businesses; * Credit Union Development Districts, which seeks to have credit unions included in a program that provides property tax breaks to banks and thrifts that establish branches in underserved areas and allows municipalities to invest funds in those institutions at special interest rates; * Financial Education, which would require financial education instruction to be included in the school curriculum for all high school students statewide; and * Robbery Legislation, which intends to deter robbery by stiffening penalties.
The guide also provides information on which legislators have visited a credit union or attended a credit union event in 2008.


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