Lending

Small Business Owners Hike the Hill

Business leaders join forces with CUs to raise the member business loan cap.

July 09, 2012
KEYWORDS banks , jobs , legislators , lending
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Keep up the fight

Enlisting small-business members in the effort to pass S.2231 has been an effective way to counter banks’ rhetoric, La Pine says.

The League of Southeastern Credit Unions, for example, asks its member credit unions to encourage small-business owners to send letters to legislators on company letterhead explaining how credit union financing made a difference in their lives and in the health of their businesses.

Video has been a powerful medium in telling business owners’ stories, he adds. “It drives the message home in a nice package.”

Listerhill created a website, iheartmycreditunion.org, that includes several videos highlighting how the credit union helped local businesses when banks wouldn’t.

At press time, Senate leadership pledged to hold a floor vote on the MBL legislation, but a voting date had not been determined. CUNA encourages credit unions to build upon legislators’ support by continuing to contact and visit with lawmakers, and urge them to vote in favor of the MBL legislation.

Green is puzzled why there’s any hesitation to do so.

“It’s such a clear-cut issue to take legislation to simply allow an industry to free up $13 billion to lend. It’s hard to understand why we wouldn’t want to inject that kind of money into our economy at no cost to the taxpayer—and why there’s any hesitation to vote for something that seems so right in principle.”

Resources
♦ CUNA:
1. E-Scan Strategic Planning Package
2. Member Business Lending initiative
3. The Small Business Authority, a CUNA Strategic Services alliance provider
♦ NCUA 

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