 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: |
Credit Unions: The Original Social Network Long before likes, follows, shares, and friend requests, people built networks another way: They showed up for each other. That’s essentially how credit unions began. Not as financial corporations, but as human networks built on trust, shared experiences, and mutual support. In many ways, credit unions were the first true social networks. Before Technology Connected People, Communities Did Today’s social platforms promise connection. They help people share ideas, ask questions, organize communities, and support causes. But more than a century ago, credit unions were already doing something remarkably similar — only in person and with real financial stakes involved. Teachers gathered with teachers. Factory workers organized with coworkers. Church members helped fellow congregants. Military personnel supported military families. Firefighters stood beside fellow first responders. Police officers supported the communities and d...
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