Write Your Legislators!
ISSUE 1:
Help Credit Unions Help Small Business - Support Senator Udall's MBL Amendment
Raising the Member Business Lending cap will give credit unions the opportunity to help strengthen our economy and create new jobs! If banks aren't willing to lend to small business, shouldn't credit unions be given the opportunity?
ISSUE 2: Contact your US Senators and Congressmen and Ask Them to Oppose the Interchange Provision in the Financial Reform Bill!
Last week the US Senate approved the Financial Regulatory Reform Bill including a provision that would mandate price controls
on the interchange fees paid by merchants for accepting debit cards. This bill has unintended consequences for credit union members and every consumer with a debit card in his or her wallet.
Contact your federal legislators TODAY and ask them to oppose the Senate-passed interchange provision.
ISSUE 3: Contact Congress and Ask Their Support in Raising the Member Business Lending Cap
Contact your Member of Congress today and urge him/her to support the H.R., 3380, the Promoting Lending to America's Small Businesses Act.
H.R. 3380, introduced by Rep. Paul Kanjorski (D-PA) and Rep. Ed Royce (R-CA), would raise the cap on member business lending from 12.25 to 25% of assets, raise the "de minimus" threshold for a loan to be considered a "member business loan" and exempt loans made to non-profit religious organizations as well as in qualified underserved areas.
Issue 4: Please Don't Restrict Credit Union Members' Financial Options
Background: Sometime this session, the House Financial Services Committee will likely consider H.R. 3904, the “Fairness and Accountability in Receiving Overdraft Coverage Act.” H.R. 3904 and the Senate companion bill, S. 1799, would limit your access to overdraft protection. As proposed, this legislation would limit the number of times a credit union member could access overdraft protection to once per month and six times per year.
Credit Union Member Concerns: Overdraft protection is a valuable service accessed by credit union members every day. A credit union offers to pay, rather than return, non-sufficient funds transactions on checking accounts in exchange for fees that are similar to those typically charged for returned items. Overdraft programs are intended to spare members the hassle and embarrassment of returned checks as well as avoid additional fees charged by merchants. This legislation would unfairly limit your access to this service when you may need it.
Action Needed: Please send a message to your federal legislators TODAY urging them to oppose any legislation which would limit your access to overdraft protection. Talking points are available for your use, and you can personalize and send an e-mail or print and fax a letter. (This message will be directed to the appropriate legislators based on the address you enter.)