Two More NY Representatives Sign On To MBL Legislation

Bonnie Sklar, Public Relations Coordinator
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(Albany, NY) – Congressmen Richard Hanna (R-24th District) and Charles Rangel (D-15th District) have signed on as cosponsors of H.R. 1418, the Small Business Lending Enhancement Act, bringing the total number of New York cosponsors to 11. The legislation would raise the member business lending (MBL) cap from 12.25 percent of total credit union assets to 27.5 percent.

“We commend our member credit unions in Congressmen Hanna and Rangel’s districts for their efforts to advance this important legislation,” said William J. Mellin, president/CEO of the Credit Union Association of New York. “This is just another testament to the effectiveness of professional, Association lobbying combined with grassroots lobbying by credit unions.”

The Credit Union Association of New York, CUNA and other state associations/leagues have been working diligently to advance the Small Business Lending Enhancement Act in Congress. Through district office visits and other grassroots advocacy, New York credit unionists have helped build impressive support among their representatives.

Rep. Carolyn McCarthy (D-4th District) is an original sponsor of the House legislation, and Reps. Gary Ackerman (D-5th District), Timothy Bishop (D-1st District), Brian Higgins (D-27th District), Maurice Hinchey (D-27th District), Gregory Meeks (D-6th District), Tom Reed (R-29th District), Paul Tonko (D-21st District) and Edolphus Towns (D-10th District) have also signed on as co-sponsors.

Both Sens. Charles Schumer (D-N.Y.) and Kirsten Gillibrand (D-N.Y.) signed on as leading co-sponsors of the Senate legislation, S. 2231, earlier this year.

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

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