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News

Home » Lending bill would expand opportunities for veteran-owned businesses
Policy & Issues

Lending bill would expand opportunities for veteran-owned businesses

June 8, 2022
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The House Small Business Committee should consider the goals of the CUNA-League-supported Veterans Member Business Loan Act as it looks for viable policy options to support veteran entrepreneurs, CUNA wrote Wednesday. The bill would exempt loans made to veteran-owned small businesses from the credit union member business lending cap.

“Credit unions recognize that financial inclusion and access to capital for entrepreneurs are critical to ensuring the growth and development of vibrant small businesses,” the letter reads. “As not-for-profit, consumer-owned financial cooperatives, credit unions have a laser focus on our mission of financial inclusion and serving our members.

“Establishing and retaining a relationship with a credit union is the best way for a small business entrepreneur to partner with a provider of essential financial services,” it adds.

Sens. Dan Sullivan, R-Alaska, and Mazie Hirono, D-Hawaii, introduced a Senate version of the bill in March.

Credit Union Magazine: Rock Stars 2023

Rock Stars 2023

Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.
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Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

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