U.S. Representative William Lacy Clay (D-District 1) was recognized as a Credit Union Champion during a meeting with credit union leaders on October 11.
Clay met with representatives from Arsenal Credit Union, Electro Savings Credit Union, St. Louis Community Credit Union, Vantage Credit Union, West Community Credit Union and the Missouri Credit Union Association at the CU Excel Center, a financial education center operated by St. Louis Community Credit Union in Congressman Clay’s district.
“We are pleased to endorse Congressman Lacy Clay as a Credit Union Champion,” says Missouri Credit Union Association President/CEO Mike Beall. “He has been a long-time supporter of credit unions. His support and willingness to work with Missouri credit unions on issues that benefit consumers is a testament to his commitment as a member of Congress to the needs of his district and Missouri.”
The Missouri Credit Union Association, which represents Missouri’s credit unions and more than 1.37 million credit union members, created the Credit Union Champion endorsement to support and publicly recognize candidates who champion credit union issues and take action, even in the face of opposition, on behalf of credit union members, consumers who benefit from credit unions, and credit unions.
Congressman Clay is a long-standing credit union supporter. In District 1, there are more than 225,976 credit union member-owners. He supports the credit union tax status, which allows credit unions to return profits to the people they serve.
Congressman Clay supports legislation that would raise the credit union small business lending cap and allow more loan opportunities for small business owners. He is a cosponsor of H.R. 1418, the Small Business Lending Enhancement Act, would raise the credit union small business lending cap from 12.25% to 27.5% of credit union assets. Prior to 1998, there were no limits on credit union small business lending.
Congressman Clay is also a cosponsor of H.R. 3993, which would allow credit unions access to supplemental capital.Photo caption, L to R: Sara Meeks (St. Louis Community); Micki Milonas (West Community); Brian Eyestone (Southpointe); Jean Capriglione (Arsenal); Lisa Farnen (Electro Savings); Mike O’Brien (St. Louis Community); Congressman Lacy Clay; Amy McLard (Missouri Credit Union Association); Randy Yeck (Vantage Credit Union); Patrick Adams, Paul Woodruff, and Kirk Mills (St. Louis Community) Photo caption: Congressman Lacy Clay talks with credit union representatives about issues of concern.