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Public Deposits bill to be heard in Florida

Credit unions are asked to send a note to their state lawmaker this week on public deposits. House Bill 251, legislation that would make credit unions qualified public depositories, will be heard this Wednesday, March 13, in the House Insurance & Banking Subcommittee. The League's Governmental Affairs team is pushing hard for this legislation. A targeted grassroots action alert for certain committee members is being issued and an aggressive media campaign is being waged. An op-ed by LSCU President/CEO Patrick La Pine has been picked up by the Florida Trend, as well as in Tallahassee, Miami and St. Petersburg. Anyone reading this story should contact their legislators, particularly those who sit on the subcommittee. The bankers are fiercely opposed to this legislation and are working tirelessly to defeat it. They have engaged in a strong grassroots campaign and are hosting their annual lobby day in Tallahassee this Wednesday, with over 100 members expected to attend. It's anticipated to be another extremely close vote and the League needs your help and support to move this bill to the next committee.

The Senate version of the bill will be heard Thursday morning in the Senate Banking and Insurance Committee. Credit unions are asked to go to the LSCU Action Center and click on "My Advocacy" to send a note to your legislator. The more that House and Senate members see that this bill is beneficial to municipalities and gives them a choice, the better the opportunity it is to get it passed.

You can watch the Florida House Insurance and Banking Subcommittee hearing by visiting the House website. Contact LSCU VP of Governmental Affairs Jared Ross at 866.231.0545 ext. 1012 or Director of Legislative Affairs Jennifer Martin at ext. 1150 with any questions.