Rep. Cook talks CU experiences, shutdown assistance and more
The California and Nevada Credit Union League spoke with Rep. Paul Cook (R-Calif.) about his credit union experiences, time in Congress and more. Cook recently introduced the CUNA-backed Veterans Member Business Loan Act (H.R. 2305), which would exempt loans made to veteran-owned businesses from a credit union’s member business lending cap.
Cook, who retired as a colonel from the U.S. Marine Corps, said he applauds credit unions for the services they perform for veterans, and praised credit unions for their assistance to members affected by the government shutdown.
“During the shutdown, I know credit unions really stepped in to help fill the gap for families who were struggling. Many of them were offering no interest lines of credit and provided consumers with a break on loan payments,” he said. “While the shutdown was terrible and something I wish had never happened, it provided the credit unions a chance to show the value they provide and their commitment to their members in our local communities.”
Cook has also encouraged the Department of Defense to ensure Military Lending Act changes don’t negatively affect credit union members, supported NCUA’s field-of-membership modernizations and called for implementation of consumer protections regarding Property Assessed Clean Energy (PACE) loans.