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Rep. Kanjorski urges Lawmakers on Member Business Lending

Credit union officials got a nice surprise Wednesday at the CUNA GAC. Rep. Paul Kanjorski (D-PA) circulated a letter to his fellow members of Congress urging them to sign on to a letter to House Speaker Nancy Pelosi (D-CA) and Republican leader John Boehner (R-OH). The letters will help encourage House leadership to work to expand credit union member business lending. The letter states that at a time when many financial institutions are withdrawing credit, credit unions have been expanding their lending.

The letter points to the figures that CUNA has released that increasing the business lending cap will pump an additional $10 billion into business lending and also create new jobs. Kanjorski writes that increasing competition in the small business loan marketplace will increase the effeciency of the of capital allocation. The letter also had a sample letter attached that members of Congress simply needed to sign and mail to Reps. Pelosi and Boehner.

You can find the letter in our CUNA GAC resources page. Click here to see it.