Stop The CU Grab

OPPOSE CREDIT UNION COMMERCIAL LENDING EXPANSION

Credit unions want Congress to expand their member business lending (MBL) authority – a cap that Congress put in place to ensure that credit unions would abide by their statutorily-charged mission to serve people of modest means and avoid excessive risk-taking. With their industry engaged in a full-scale campaign to bully Congress into increasing this cap, it’s important to know the real facts about increased MBL authority and the mega credit unions that are pushing for this change.

Credit Union Commercial Lending Study See why new MBL legislation is unnecessary and would likely harm the economy Credit unions are pushing for controversial legislation to expand their ability to make Member Business Loans (MBL). This new study breaks down the data used by credit union advocates in support of these efforts, separating fact from fiction, and also examines the broader negative consequences that granting this authority would have on the economy and stability of the credit union industry as a whole. Download the full 20 page study Download the Executive Summary

OPPOSE CREDIT UNION SUPPLEMENTAL CAPITAL AUTHORIZATION

Credit unions are again looking for any opportunity to unfairly compete with banks by seeking to raise supplemental capital by issuing equity. This directly undermines the basis of the credit union tax-exemption by allowing a credit union to act, in part, as investor-owned corporations with an obligation to assure shareholder profit — except that they will still not pay taxes.