NEW YORK (4/17/12)--
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A full-page ad touting raising credit unions' member business lending (MBL) cap was placed in the national edition of The New York Times
Sunday by New York credit unions and the Credit Union Association of New York (CUANY). The ad appears in the front section of Sunday's newspaper.
The message of the ad was two-fold, said the association:
First, it was to have New York credit unions and their 4.6 million members commend and thank Sens. Charles Schumer (D-N.Y.) and Kirsten Gillibrand (D-N.Y.) for their leadership in support of S. 2231, the Credit Union Small Business Jobs Bill.
Second, the ad urges the U.S. Senate to pass the bill, which would raise credit unions' MBL cap to 27.5% of assets from 12.25%. The bill, said CUANY, will support small businesses, create jobs for more Americans and build a stronger economy in New York State and nationwide.
"Right now, it is imperative that our senators know we appreciate their continued support and leadership on this legislation," said William J. Mellin, CUANY president/CEO.
"This advertorial will accomplish that goal in a powerful, highly visible way--and it will better position both senators to advocate on our behalf and use their considerable influence with their peers, which could prove absolutely critical once the Senate votes on the bill," Mellin added.
The advertorial was funded by New York credit union contributions to a general MBL advocacy fund, said CUANY.
The national edition of The New York Times
has a circulation of 1.25 million and is one of the most highly read newspapers in the nation.
The Credit Union National Association estimates that passing the bill would help inject $13 billion into the economy for small businesses and thus generate 140,000 jobs the first year, all at no cost to the taxpayer. Congress is expected to vote on the bill soon.