In a new video, CUNA President/CEO Bill Cheney urges all credit unions—and their business members—to contact their senators now during the Senate’s “spring break” in support of the Credit Union Small Business Jobs Bill (S.2231).
The short video also features a toll-free number at the end which viewers may use to call their senators directly in support of the bill.
During a recent conference call, Cheney explained that Senate Majority Leader Harry Reid (D-Nev.) pledged to bring a Senate version of the member business lending (MBL) bill to a vote.
“As I indicated on the call, the Senate will soon vote on our legislation—in fact, the vote could come as soon as the third week of April,” Cheney says. “We must win this vote. The banks have come unglued in their opposition to this legislation—they want desperately to make this issue a bank versus credit union issue.
“But we will win the day if we remind Congress the important role credit unions play in the lives of their small business-owning members,” he continues. “Our supporters on the Hill—and those that would like to support us—have told us that having small business members talk about their experience dealing with credit unions is crucial to getting this bill passed.”
Congress is on recess this week and next, Cheney adds, which provides a great opportunity to encourage senators to support this legislation. Credit unions and their business members can do so by telling senators “We need your vote on S. 2231, the Credit Union Small Business Jobs Bill” through one of these avenues:
“This is vital to every credit union, regardless of whether it makes business loans,” Cheney says. “If we win, credit unions will be well-positioned to continue to help small businesses through the recovery, and we send a clear signal that credit unions are as powerful as ever.”
A U.S. District judge Monday dismissed three lawsuits--including one by the National Credit Union Administration--brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities.