Skip to main content

Editorial: Let credit unions make more business loans


Small businesses have a hard time getting loans they need to operate and expand, limiting their ability to create jobs. Credit unions have capital, but the amount they can loan to businesses is limited by law. There's a coupling waiting to be made here and Sen. Kirsten Gillibrand (D-N.Y.) wants to be the matchmaker.

Her Small Business Lending Enhancement bill would raise the cap on the amount of a credit union's total assets that it can lend to businesses. Since the 1990s, that cap has been set by law at 12.25 percent. The bill would raise it to 27.5 percent. In the aftermath of Sandy, when many local businesses need help getting back on their feet, this reform is one Congress should embrace.
> Read Complete Story>Editorial: Let <b>credit unions</b> make more business loans:
 
 

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

New York Stock Exchange building venue for 24/7 tokenized stock and ETF exchange

The New York Stock Exchange (NYSE), via its owner   Intercontinental Exchange (ICE) , is building a new digital trading venue for 24/7 trading of tokenized stocks and ETFs, using blockchain and stablecoin-based funding for instant settlement, aiming to modernize markets by running parallel to the traditional exchange. This platform will support native digital securities and traditional shares as tokens, allowing for continuous liquidity and integrating digital assets into mainstream finance, with plans to launch later in 2026 after regulatory approval.   Key Features of the New NYSE Platform: 24/7 Trading:  Operates continuously, unlike the traditional exchange's weekday hours. Instant Settlement:  Transactions settle immediately, moving away from the current T+1 (trade date plus one day) model. Stablecoin-Based Funding :  Uses stablecoins (digital tokens pegged to fiat currency like the USD) for funding and collateral, streamlining processes outside banking hou...
Post a Comment
Read Complete Article HERE>»

Breaking: NCUA Moves to Remove a Major Barrier to Board Service

NCUA just proposed a rule that would allow federal credit unions to reimburse or directly pay reasonable dependent care costs for volunteer officials when those costs are incurred while attending board meetings or performing official duties. Childcare and eldercare costs are real barriers to serving on a board — especially for working professionals, single parents, and caregivers. At the same time, expectations for board engagement, training, and oversight continue to rise. A few important guardrails remain: ✔️ Applies only to federal credit unions ✔️ Covers dependent care only — not lost wages or compensation ✔️ Requires written board policy and reasonable controls ✔️ IRS tax treatment still applies (talk to your CPA) Bottom line: this won't fix board recruitment challenges by itself, but it removes a real friction point for people who want to serve and simply can't absorb the added costs. NCUA is also asking for comments — including whether training and conferences...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - How pensions work

  The Pension Promise   How pensions work Colloquially speaking, pensions are retirement plans that result in employees receiving a fixed amount of money from their former employers during retirement, often for life (although the technical legal definition of pensions is significantly more nuanced ). Unlike “defined contribution plans” like 401(k) plans, “defined benefit plans” like pensions make it so the employer , rather than the employee, determines how much money is set aside for the plan and how it’s invested (often in stocks, bonds, and other assets). In retirement, monthly payouts include both the principal and investment earnings. Employers often use fact...
Post a Comment
Read Complete Article HERE>»

NCUA Issues 2026 Supervisory Priorities Letter to Credit Unions

Alexandria, VA (January 14, 2026)  ― The National Credit Union Administration (NCUA) today announced its 2026 Supervisory Priorities, which continue the agency’s policy of “No Regulation by Enforcement,” while prioritizing safety and soundness. This policy underscores NCUA’s commitment to providing clarity and transparency in its oversight. The letter outlines NCUA’s priorities for the year and provides information to help credit unions prepare for examinations. This year, the agency will continue to focus on risk-based supervision, tailoring the examination scope to the credit union’s unique risk profile. Key Highlights of the 2026 Supervisory Priorities: Risk-Focused Examinations:  Examiners will concentrate on areas posing the greatest risk to credit union members, the credit union system, and the Share Insurance Fund. Balance Sheet Management and Lending:  With loan performance at its weakest point in over a decade, examiners will review credit risk management practic...
Post a Comment
Read Complete Article HERE>»

Syracuse Fire Department Credit Union

 Congrats, Tonia, on your promotion! ================================================= Remember, you're not alone with  NCOFCU.org Join/Upgrade Check out some of NCOFCU's additional features: First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Blog Job Board
Post a Comment
Read Complete Article HERE>»

Moving to a Credit Union Doesn’t Mean Giving Up Rewards Credit Cards

Moving to a Credit Union Doesn’t Mean Giving Up Rewards Credit Cards : "We’ve received a couple questions at NerdWallet about credit unions and rewards credit cards. Generally, the perception is that while credit unions are great for low interest rates and fees, the major banks have the profit margins to spend on a great rewards program. But now, " 'via Blog this'
Post a Comment
Read Complete Article HERE>»

Retirement Notice: Clint Hartmann CEO of Houston Texas Fire Fighters FCU is Retiring!

The Board of Directors of Houston Texas Fire Fighters FCU has announced that Clint Hartmann is retiring in March 2016 as President/CEO after 12 years of distinguished service. After graduating with his MBA and working several years in finance and accounting, Hartmann began his credit union career at Tropical Telco FCU (now Tropical Financial CU) in 1983 as Assistant Controller. Over the next 25 years, Hartmann served as President and CEO of credit unions with the Martin Marietta and the University of South Florida, where he learned to respect and appreciate the membership aspect of the credit union philosophy. He was named President and CEO of HTFFFCU in 2004. Hartmann cites that his biggest challenge as CEO was navigating through the recent recession and collapse of the corporate credit union network, a challenge that hurt many credit unions throughout the country. “I am proud that we managed to work through these challenges while maintaining positive earnings and capital growth. We a...
Post a Comment
Read Complete Article HERE>»

What Could Tokenized Deposits Mean for CUs?

WASHINGTON—Noting that the FDIC has expressed support for tokenized deposits as insured bank liabilities, not experimental digital assets, a new analysis offers some insights into what that could mean for financial institutions, credit unions and the market in 2026 and beyond.  As PYMNTS Intelligence pointed out in its report, regulatory clarity reduces risk for banks moving from pilots to live deployments, and large banks and infrastructure providers are already testing real-world tokenized deposit use cases.  “At its simplest, tokenization converts an existing claim into a digital representation on a distributed ledger,” the report explained. “The underlying asset does not change, but the infrastructure that tracks ownership and settlement does. In banking, that distinction is critical. Tokenized deposits do not create new money. They represent traditional bank deposits, issued and redeemed by regulated institutions but designed to operate on modern, programma...
Post a Comment
Read Complete Article HERE>»

Credit Unions Dominate Apple Pay List

Firefighter credit unions on the list! check them out at: Quora, a user-sourced question and answer website.   On the launch day of Apple Pay, NCUA Vice Chairman Rick Metsger said the majority of financial institutions involved with the technology are credit unions. “An initial list of financial institutions signed-up for Apple Pay on its launch day reveals that more than two-thirds are credit unions,” Metsger said in a keynote address to the American Institute of CPAs’ annual conference on credit unions in Denver Monday. “This demonstrates that America’s credit unions are ready, willing and able to meet the needs of American consumers for secure mobile payment systems,” he added. To date, Apple has not publicly released the names of participating financial institutions. However, a list recently surfaced on Quora, a user-sourced question and answer website. The unsourced list showed that the majority of the more than 500 financial institutions listed are credit unions. Cre...
Post a Comment
Read Complete Article HERE>»

Products and Services That Work

We are only a few weeks away form San Diego Don’t miss these sessions with real takeaway ideas! 6 of our credit union CEO’s will discuss products and services that worked for them!
Post a Comment
Read Complete Article HERE>»