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News Now

CU System
Pa. House candidate a former CU employee
HARRISBURG, Pa. (9/18/12)--
Pennsylvania Credit Union Association Director Cookie Yoder, left, meets Erin Molchany, candidate for the 22nd District State House Seat. (Photo provided by the Pennsylvania Credit Union Association.)
A candidate running for the 22nd State House District in Pennsylvania is a former credit union employee and has strong ties to credit unions, according to the Pennsylvania Credit Union Association (PCUA).

If elected, Erin Molchany would represent portions of Allegheny County, said PCUA (Life is a Highway Sept. 17). 

Molchany worked in a credit union and is the daughter of Fred Molchany, a board director of People First FCU, Allentown. PCUA Director Cookie Yoder, CEO of City Co FCU, Pittsburgh, attended an event last week for Molchany.

PCUA said Molchany  is devoted to making her region a better place for entrepreneurs to invest their time, energy and passion, and believes that credit unions can play a part in the process.

On a federal level, credit unions are urging Congress to pass legislation that would raise their member business lending (MBL) cap to 27.5% of assets from 12.25% so credit unions can play a larger role in the economic recovery. The Credit Union National Association (CUNA) estimates that raising the cap would allow credit unions to inject $13 billion in new small-business loans into the economy and would create140,000 new jobs the first year, without cost to taxpayers.


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