In Missouri and across the country, credit unions are focusing on the final push to pass member business lending (MBL) legislation. Time is running out and all efforts are needed. If member business lending is not passed by the end of the year, MBL will have to be reintroduced when the new Congress takes office and the process must start all over again.
Missouri credit union leaders and small business owners are asked to participate in a National Hike the Hill on November 27-28 in Washington, D.C. It is the Tuesday and Wednesday immediately following Thanksgiving.
“We cannot leave a single stone unturned in our effort to win the vote when it comes up,” stated Credit Union National Association President/CEO Bill Cheney in a message to credit unions. “I know it’s another trip (after so many trips this year), but this is our last and best chance to pass the member business lending in this Congress. “
“That means you need to come. Credit union lending officers need to be here too. So, especially, do those who have the best stories to tell: Credit union small business-owning/borrowing members.”
The member business lending bill would raise the credit union member business lending limit from 12.25% to 27.5% of assets. The U.S. Senate bill is S. 2231, the Credit Union Small Business Jobs Bill (formerly S. 509) and the U.S. House bill is H.R. 1418, the Small Business Lending Enhancement Act.
Here is the tentative schedule of events:
Tuesday, November 27
Hill visits as needed (scheduled by MCUA)
6 p.m. Legislative Briefing, followed by reception
Wednesday, November 28
All Day - Hill Visits (as scheduled by MCUA)
6 p.m. – Debriefing and Reception (if able to attend)
RSVPs are needed by November 5. Please inform MCUA if your credit union will be able to participate in the National Hike the Hill on November 27-28, and if you will be able to include a small business owner in this Hike.