The economic crisis and bank departures from rural areas were giving credit unions in eight states new hope last week their legislative proposals for deposit of public funds might stand an improved chance of passing this year despite stepped up banker opposition.
State league officials say some hard-pressed municipalities are now eager for CUs to bid on public funds despite resistance from the banking lobby, which was already mounting vigorous campaigns last week to block deposit measures in two states, New York and Washington.
The Washington Credit Union League said it was particularly encouraged that enabling legislation allowing deposit of $100,000 in public funds in CUs could be enacted following support from a key lawmaker.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
