Cheney urges MBL-bill passage in multistate radio tour
08/16/2012 03:51 pm
Bill Cheney this week took to the airwaves on a radio tour that consisted of 12 phone interviews with stations around the country.
Cheney in the interviews emphasized that raising the MBL cap would enable credit unions to help more small businesses and create new jobs at no cost to taxpayers. He noted credit unions have a long and successful track record of small business lending, but some of the credit unions that have been most successful now must curb or stop lending because they are hitting the arbitrary 12.25 percent of assets statutory cap. "They're having to turn people away--it makes no sense," Cheney said.
The CUNA leader urged credit union members and listeners who agree with the credit union position to contact their senators and U.S. House members and urge passage of two CUNA-backed bills that would raise the MBL cap to 27.5 percent of assets, S. 2231 and H.R. 1418.
"If people agree small businesses need more access to capital, not less, contact your members of Congress" and ask them to pass these bills, Cheney said.
Cheney's interviews included Fox News' national radio network and stations in Alabama, Arizona, Florida, Maryland/D.C., Mississippi, Nebraska and Virginia.
In a number of the interviews, Cheney also had the opportunity to discuss the value of credit union membership and direct listeners to aSmarterChoice.org, the website developed by CUNA and credit union leagues. That site informs users on the basics of credit unions and provides resources to help them find one they are eligible to join.