MANCHESTER, N.H. (1/29/14)--America's Credit Union Museum was the setting for Friday's meeting between New Hampshire credit unions and U.S. Rep. Ann McLane Kuster (D-N.H.).
U.S. Rep. Ann McLane Kuster (D-N.H.), center, met with representatives from six New Hampshire credit unions and New Hampshire Credit Union League President/CEO Paul Gentile last week. (New Hampshire Credit Union League photo)
Kuster, who represents the state's Second District, met with Paul Gentile, president/CEO, New Hampshire Credit Union League, and representatives from Bellwether Community CU, Manchester; Holy Rosary CU, Rochester; Northeast CU, Portsmouth; Service CU, Portsmouth; St. Mary's Bank CU, Manchester; and Triangle CU, Nashua.
The delegation discussed member business lending, supplemental capital, student loans, taxation and regulatory burdens (Daily Scan Jan. 26). "The Congresswoman is clearly focused on helping the people and businesses of New Hampshire, and we think credit unions can play a part in that," said Gentile, who also serves as president/CEO for the Massachusetts and Rhode Island leagues.
The representatives explained the effect that the 12.25% cap on member business loans has on their efforts to serve small businesses. Kuster offered to communicate with the National Credit Union Administration regarding credit unions' business loan challenges and expressly rejected any suggestions that such lending was unsound, Daily Scan reported.
Gentile also thanked Kuster for co-sponsoring H.R. 1553, The Financial Institutions Examination Fairness and Reform Act, which would bring fairness to the examination and examination appeals processes.