CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » CUNA backs Miller bill to ease vets' access to CU biz loans
Policy & Issues

CUNA backs Miller bill to ease vets' access to CU biz loans

February 27, 2015

WASHINGTON (3/2/15)--A bill that would exempt business loans to veterans from credit unions' statutory cap was introduced Friday by Rep. Jeff Miller (R-Fla.) and has CUNA's support. The bill, H.R. 1133, is identical to a bill introduced last Congress and would amend the Federal Credit Union Act to enhance credit union lending to veterans looking to start or finance a small business.

"Credit unions welcome the introduction of Congressman Miller's bill that allows veterans more access to capital by granting credit unions relief to the member business lending cap," said Sam Whitfield, CUNA deputy chief advocacy officer. "This legislation is a win for everyone."

Credit unions are currently bound by statute to cap member business lending at 12.25% of total assets. CUNA is a longtime advocate of raising the cap and supports a legislative fix that would raise it to 27.5% of assets.

"With so many of our veterans possessing membership with credit unions, exempting them from this lending cap would allow veterans with an entrepreneurial spirit better access to capital," Miller said in a statement.

Credit Union Magazine - Winter 2019

Winter 2019

Alternative lending, compliance management systems, and ideas for boosting credit card portfolios are among the topics of Credit Union Magazine’s Winter 2019 edition.
App •  Digital Edition •  Subscribe

Trending

  • CFPB proposes to raise remittance threshold to 500 transfers

  • Compliance: Recapping the 2019 BSA Conference

  • Concerns over credit union-bank mergers, CRA ‘inaccurate, misinformed’

Tweets by CUNA_News

Polls

What's the pace of staff turnover at your CU?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is 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.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors