MCUA update moves out of Committee
LANSING, MI (November 10, 2015) — Legislators on the House Financial Services Committee unanimously approved a six-bill package to update the Michigan Credit Union Act (MCUA) for the first time in more than a decade.
The bills, House Bills 5017-5022, will now move to the House floor for consideration by the full chamber after the Thanksgiving legislative recess.
In recent weeks, the committee has heard testimony from Ken Ross, EVP/COO of the Michigan Credit Union League & Affiliates (MCUL), along with prominent credit union representatives from across the state, as well as DIFS Director Pat McPharlin.
“Today’s committee vote is a victory for credit unions, but it’s only the first step,” said Ross. “We’ll continue pressing for these important regulatory reforms designed to reduce unnecessary burdens and improve our competitiveness.”
To learn more about MCUL’s efforts to update the MCUA, click here.
About Michigan Credit Union League & Affiliates
Organized in 1934, the Michigan Credit Union League & Affiliates [mcul.org] (MCUL) is a trade association representing Michigan’s credit unions. Based in Lansing, Michigan, MCUL works to strengthen the credit union community and its image by providing advocacy on important issues, coordinating cooperative initiatives and by providing high-quality solutions that help credit unions succeed and enrich the lives of their members.