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Comments needed for Member Busines Lending

The House Financial Services Committee will hold a hearing to discuss business lending issues Friday February 5. This is a positive step for credit unions as they work to increase the limits on member business lending.

Chairman Barney Frank is asking for letters for the record from borrowers and lenders. The goal of the League of Southeastern Credit Unions is to send 20 letters each from Florida and Alabama from small businesses that have received small business loans from credit unions.

For those credit unions that have worked with a small business member and provided a loan, the League is asking credit unions to contact them and ask if they would be willing to send a letter on this very important issue. Five letters from CEOs in both Florida and Alabama are also being requested to explain to members of the committee the important role that credit unions play in small business lending. Specific examples from credit unions on how they've provided a loan to a small business will be extremely helpful.

The letters should be addressed to Chairman Frank, however they need to be sent directly to CUNA so they can be submitted for the record in one package (this will ensure optimal impact).

Address your letters to:

The Honorable Barney Frank, Chairman
House Financial Services Committee
Washington, DC 20515

Fax or email them to:

Elizabeth Furey
Fax 202.638.7751 and please put "Business Lending Letters" in the subject line.

Please fax or email a copy of any letters to the LSCU to the attention of Will McCarty, vice president of Legislative Affairs/Staff Counsel 205.991.2576 or Mark Landreth, vice president of Legislative Affairs 850.558.1013. Please direct any questions you have to Will or Mark, as well.

All letters need to be received by CUNA no later than February 3.