The Missouri House of Representatives voted overwhelmingly in support of HB 478, a bill modernizing the Missouri Credit Union Statute dealing with joint accounts. The vote of 153-1 took place on April 2. Rep. Kimberley Gardner (D-District 77) was the only opposing vote.
The bill’s sponsor, Rep. Paul Wieland (R-District 112), introduced HB 478 on the House floor. Rep. Jon Carpenter (D-District 15), a 2012 Missouri Credit Union Champion, and House Financial Institutions Committee member Rep. Mary Nichols (D-District 72) both spoke in favor of the bill.
“HB 478 received strong cross-party support, which isn’t always the case in our current political climate” says Peggy Nalls, MCUA chief advocacy officer. “But we are glad both parties understood updating our statute makes sense for both consumers and credit unions. We hope to have a similar result in the Senate.”
HB 478 now moves to the Missouri Senate where it will be assigned to a committee. MCUA will provide updates as HB 478 moves through the legislative process.
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Representatives Mary Nichols, Jon Carpenter, and bill sponsor Paul Wieland spoke in support of HB 478, the credit union bill.