Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Ohio CUs to Lawmakers: Municipalities Want CUs for Deposits
COLUMBUS, Ohio (12/30/13)--Local municipalities and government entities want to be able to make deposits to credit unions, Ohio credit unions told key state lawmakers recently.
 
The Ohio Credit Union League coordinated meetings between credit unions and key members of the Ohio General Assembly as part of the push to make credit unions eligible to receive public funds deposits, said the league (eLumination Newsletter Dec. 27).  The league is backing House Bill 221, which would allow credit unions to accept such deposits.
 
Dynamic FCU CEO Diane Rodriguez told House Assistant Majority Whip Jim Buchy (R-Greenville) that her credit union has been approached frequently by local government entities.  "Unfortunately, as we have had to turn them down, the phone calls are getting fewer," she said.  Rodriguez also explained that her credit union recently provided a small business loan to an unemployed member and helped another member save his home, said the league.
 
Also, Defiance-based Midwest Community CU hosted Rep. Tony Burkley (R-Payne) and asked for his support for HB 221.  Burkley is a member of the State and Local Government Committee, which is considering the bill.

Other states that have laws on the books or are considering legislation to allow credit unions to accept public deposits include California, Illinois, Missouri, New Jersey, New York, Oregon and Washington.


RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago