ONTARIO, CA (February 12, 2016) — Congressman Joe Heck, R-Henderson, on Feb. 11 became the first member of Congress from Nevada to submit a support letter of the National Credit Union Administration (NCUA) favoring its proposed rule on field of membership. Meanwhile six members of Congress from California have also sent letters in support, the most recent being Rep. Linda Sanchez, D-Norwalk.
Sanchez—a member of the House Committee on Ways and Means (which governs the credit union tax status) and chairman of the Congressional Hispanic Caucus—joined Dr. Ami Bera, D-Elk Grove; Doug LaMalfa, R-Chico; John Garamendi, D-Vacaville; Brad Sherman, D-Sherman Oaks; andTed Lieu, D-El Segundo—in submitting a support letter.
All are co-sponsors of H.R. 1181, legislation raising the member-business lending cap, and all also have been a part of multiple efforts to support credit unions.
These are the only support letters sent from members of Congress to date.
The California and Nevada Leagues have been instrumental in seeking these support letters, which all should be posted on the NCUA’s website.
“These support letters are much more than blatant approval of the agency’s intentions,” said Jeremy Empol, Leagues’ vice president of federal government affairs. “The letters provide support for the rule, grounds for the NCUA to act, and as a reminder to the agency that they must adhere to the confines of the Federal Credit Union Act. The Leagues appreciates the authors sending the support letters.”
All seven letters praised the agency for working within the Federal Credit Union Act to redefine modernizations to the charter, and bring it up to the competitive alternatives of the state charter(s).
Links to the letters:
Joe Heck: http://www.ccul.org/advocacy/info/photos/image17.jpeg
Linda Sanchez: http://www.ccul.org/advocacy/info/documents/Sanchez%20comments,%20NCUA%20Chartering%20and%20Field%20of%20Membership,%202-16.pdf
Dr. Ami Bera: https://secure.ccul.org/documents/2015/020916Bera.pdf
Doug LaMalfa: http://www.ccul.org/advocacy/info/documents/020416LaMalfaNCUA.pdf
John Garamendi: http://www.ccul.org/advocacy/info/photos/image12.jpeg
Brad Sherman: http://www.ccul.org/advocacy/info/photos/ShermFullSizeRender1.jpg
Ted Lieu: http://www.ccul.org/advocacy/info/photos/Lieu3.jpg
Headquartered in Ontario, CA, the Leagues exist to help credit unions change people’s lives by supporting their operations, guidance, strategy and philosophy. Our trade association helps local credit unions in California serve their nearly 13.3 million members and those in Nevada serve 380,000 members. Credit unions are for people, not profit!
Matt Wrye
Senior Communications Manager
California & Nevada Credit Union Leagues
909-851-3935 | mattw@ccul.org
