Washington - The National Association of Federal Credit Unions’ (NAFCU) President and CEO Fred Becker issued the following statement regarding the 2012 election results.
“NAFCU congratulates President Obama and all the incumbents and newly-elected members of Congress who won their elections. NAFCU and the nation’s credit unions look forward to continuing to work with the administration and Congress to help our nation’s economy prosper and grow.
“Specifically, of immediate need is passage of S.2231, The Small Business Lending Enhancement Act. This would lift the arbitrary member business lending cap on credit unions, allowing them to help small businesses grow and create jobs. This bipartisan legislation could spur over $13 billion in new lending and create over 140,000 new jobs in the first year alone at no cost to taxpayers. We very much appreciate the inclusion of this legislation on the list of unfinished legislative items created by Senate Majority Leader Harry Reid (D-Nev.) and hope that he is able to bring the bill to a vote before year end.
“Additionally, we urge passage of legislation to eliminate the duplicative ATM placard disclosure requirement. This is a common sense bill that would stop frivolous lawsuits against banks and credit unions when the signs are missing or have been vandalized.
“Credit unions are a vital part of our nation’s financial and economic system and we will be steadfast in working to ensure that the legislative and regulatory burdens on them are minimized so that they can better serve their 94 million members and support the economic recovery.”
About Us:
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.