Senate Vote on MBL Bill Expected Next Week as Credit Unions Continue Advocacy

As members of the U.S. Congress return to Washington, D.C., this week, credit unions around the nation remain focused on advocating for the passage of S. 2231, a bill that would increase the cap on member business lending (MBL) from 12.25 percent to 27.5 percent of a credit union’s assets.

As of yesterday afternoon, credit union advocates from Oregon and Washington had already logged more than 1,800 contacts through the Credit Union National Association (CUNA) Grassroots Action Center. Each contact represents an email sent to Oregon or Washington’s senators, and with a vote on the bill not expected in the Senate until next week, credit unions still have time to encourage staff and members to contact their legislators in support of increasing credit unions’ MBL authority.

House MBL sponsor Rep. Ed Royce (R-Calif.) has said that a House vote would follow a vote in the Senate. Both houses are in session until April 30.

The credit unions in the Northwest that had funneled the most activity to CUNA’s Grassroots Action Center through yesterday afternoon are:

  1. Fibre Federal Credit Union (268)
  2. Rogue Federal Credit Union (199)
  3. Spokane Teachers Credit Union (STCU) (194)
  4. Unitus Community Credit Union (149)
  5. North Coast Credit Union (111)
  6. Oregon Community Credit Union (93)
  7. iQ Credit Union (92)
  8. BECU (84)
  9. Valley Credit Union (80)
  10. OSU Federal Credit Union (65)

Of those, Fibre, STCU, Unitus, North Coast, Oregon Community, iQ, and Valley had posted the MBL call to action on their websites.

Five Northwest Credit Union Association (NWCUA) chapters have also sent information to their participants: Capitol Chapter, Central Oregon Chapter, Southwest Washington Chapter, Eastern Oregon Chapter and Spokane Chapter.

Visit the NWCUA’s MBL Action Page for more information.

 

Questions? Contact a member of the Association’s Legislative Affairs team:
Jennifer Wagner, Vice President of Legislative Advocacy
Mark Minickiello, Vice President of Legislative Affairs
Stacy Augustine, Senior Vice President & General Counsel

Posted in Advocacy News, Around the NW.