PEWAUKEE, Wis. (3/17/16)--The Wisconsin Senate unanimously passed legislation Tuesday to streamline, clarify and make more transparent regulations affecting 150 state-chartered credit unions. This action sends the bill to the governor’s office for his signature.
“We appreciate the overwhelming support of Wisconsin lawmakers, particularly the bill’s lead author, Assembly Financial Institutions Committee Chair Rep. Dave Craig (R-Town of Vernon), and Senate author Sen. Rick Gudex (R-Fond du Lac),” said Brett Thompson, Wisconsin Credit Union League (WCUL) president/CEO.
“Rep. Craig’s leadership and Sen. Gudex's efforts allowed the bill to move smoothly and quickly through the legislature with unanimous, bipartisan support,” Thompson said.
The bill was unanimously approved by the state Assembly in February. It is expected that Gov. Scott Walker will sign it into law.
Key to the bill’s unanimous approval by both the state Senate and Assembly was the credit union activism demonstrated during the WCUL’s Governmental Affairs Conference, Sarah Wainscott, WCUL director of government affairs, told News Now.
“This bill was introduced just days after our state GAC--where 240 activists started a conversation with legislators on the value they provide members and communities--and asked for support of this effort to modernize the state statute, which can allow them to better focus on valued services and programs,” Wainscott said.
Among the legislation’s highlights: