COLUMBUS, Ohio (2/21/14)--Local government officials joined Ohio Credit Union League delegates to support credit unions as depositories of public funds during last week's proponent testimony.
"Grandview Heights' depository options likely do not mirror other municipalities; however, approval of [House Bill] 221 does one thing: it provides choice," Mayor Ray DeGraw told the Ohio House State and Local Government Committee (eLumination Feb. 19).
HB 221, also known as the Community Access and Local Government Choice Act, would permit credit unions to serve as eligible depositories. Lima Municipal Court Clerk Jim Link said the bill "makes sense because credit unions are community-based, reinvesting these funds into member-owners of the cooperative and small businesses throughout the county."
League Director of Legislative Affairs Patrick Harris added credit unions' desire to participate in under-utilized, "linked-deposit programs" in partnership with the state of Ohio. "Credit unions, their members, and member businesses should have equal and fair access to these vital programs which can help create jobs and economic development," he said during the proponent testimony.
Also on hand were representatives from Bridge CU, Columbus; Desco FCU, Portsmouth; Hopewell FCU, Heath; KEMBA Financial CU, Gahanna; Pathways Financial CU, Columbus; State Highway Patrol FCU, Columbus; Superior FCU, Lima; and Telhio CU, Columbus.
Opponent testimony will likely be held in early March.