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CU System
N. M. CUs host town hall meetings with lawmakers
ALBUQUERQUE, N.M. (2/2/10)--New Mexico's credit unions had a chance to share their concerns and issues with state lawmakers at town hall meetings hosted by the Credit Union Association of New Mexico (CUANM) before the current legislative session began.
Click to view larger image New Mexico Rep. Brian Egolf, left, discusses issues facing the 2010 New Mexico Legislature during a town hall meeting hosted by the Credit Union Association of New Mexico.
Click to view larger image At a town hall meeting in Albuquerque, N.M., state Sen. Cisco McSorley talks with First Financial CU CEO Ben Heyward about credit unions and other issues. (Photos provided by the Credit Union Association of New Mexico)
The events attracted 16 representatives and seven senators. They indicated that the legislative session would focus on the state budget. Most agreed they are facing the worst fiscal situation they have ever dealt with, said CUANM. Ideas they are considering include cutting state employees' salaries, raising taxes including taxes on alcohol and cigarettes and cutting state jobs (CUANM Network January). Because of widespread dissatisfaction among constituents and legislatures over mega-banks nationwide that received taxpayer money while cutting credit and raising fees, one bill being introduced would pave the way for transferring state money from megabanks. Many of the credit unions told lawmakers at the town hall meetings that credit unions are actively working to help their members weather the difficult financial climate. CUANM President Sylvia Lyon noted that credit unions have come through the toughest times without taking any taxpayer money and remained committed to their members' financial needs. CUANM is working to ensure parity with local community banks in the deposits legislation and to find ways for credit unions to insure multimillion dollar deposits and to handle a large infusion of capital. CUANM is also monitoring legislation that would set usury limits and set new unemployment insurance taxes as well as proposals to enhance revenues.


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