WASHINGTON (8/16/12)--With members of Congress back in their home states this month, Credit Union National Association (CUNA) President/CEO Bill Cheney took to the airwaves in a series of radio interviews on why Congress should enact legislation to raise the cap on credit union member business lending (MBL).
The radio tour consisted of 12 phone interviews with stations around the country.
CUNA President/CEO Bill Cheney took the credit union message nationwide in a series of Wednesday radio interviews. (CUNA Photo)
Cheney in the interviews emphasized that raising the MBL cap would enable credit unions to help more small businesses and create new jobs at no cost to taxpayers. He noted credit unions have a long and successful track record of small business lending, but some of the credit unions that have been most successful now must curb or stop lending because they are hitting the arbitrary 12.25% of assets statutory cap. "They're having to turn people away--it makes no sense," Cheney said.
The CUNA leader urged credit union members and listeners who agree with the credit union position to contact their senators and U.S. House members and urge passage of two CUNA-backed bills that would raise the MBL cap to 27.5% of assets, S. 2231 and H.R. 1418.
"If people agree small businesses need more access to capital, not less, contact your members of Congress" and ask them to pass these bills, Cheney said.
Cheney's interviews included Fox News' national radio network and stations in Alabama, Arizona, Florida, Maryland/D.C., Mississippi, Nebraska and Virginia.
In a number of the interviews, Cheney also had the opportunity to discuss the value of credit union membership and direct listeners to aSmarterChoice.org
, the website developed by CUNA and credit union leagues. That site informs users on the basics of credit unions and provides resources to help them find one they are eligible to join.