NY Adds Another Cosponsor to Two Credit Union Bills
Bonnie Sklar, Public Relations Coordinator
(800) 342-9835, ext. 8130, cell: (518) 944-0831
(Albany, NY) – U.S. Representative Robert Turner (R/NY-9) has signed on as a cosponsor of two bills now before Congress; the Small Business Lending Enhancement Act (H.R. 1418) and the Capital Access for Small Business and Jobs Act (H.R. 3993).
The Small Business Lending Enhancement Act would raise the member business lending (MBL) cap from 12.25 percent of total credit union assets to 27.5 percent. The Capital Access for Small Business and Jobs Act would permit NCUA to allow credit unions to accept additional forms of capital, provided it doesn’t alter their cooperative ownership structure.
“We commend Congressman Turner for supporting these very important pieces of legislation,” said William J. Mellin, president/CEO of the Credit Union Association of New York. “Member business lending and supplemental capital continue to be priority issues for New York credit unions, and we are proud to have the support of so many of our Congressional representatives.”
New York now has a total of 12 and nine representatives co-sponsoring the Small Business Lending Enhancement Act (H.R. 1418) and the Capital Access for Small Business and Jobs Act (H.R. 3992), respectively.
The Credit Union Association of New York has served as the trade association for the state’s credit unions for 95 years. New York credit unions have assets of more than $57 billion and serve 4.6 million members. To learn more about the Association, visit www.cuany.org.