Small businesses and credit unions: For the good of America

Since 1963, U.S. presidents have marked the important role of the country’s small businesses by proclaiming a week in May as a time to honor their contributions.

And just last week the U.S. House of Representatives passed a bipartisan resolution recognizing National Small Business Week to celebrate the pivotal role small businesses play in our nation. Their contributions are critically important.

Small Business Week is an ideal time to highlight all that the country’s credit unions do to support small businesses in their communities. Not just for a week—but every day, every week, and for more than 100 years. It’s a perfect time to recognize that credit unions stand ready to do more if the country’s policymakers will tear down an unnecessary and artificial lending barrier, which didn’t even exist before 1998.

There are more than 29 million small businesses in the United States and they employ more than 50% of the country’s private sector workforce. Small businesses also create around 70% of new jobs—having an incredibly important impact as the country and its citizens continue on the road to full recovery after the recent economic downturn.

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