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New York Gov. Pataki indicates support for CU-friendly state issues

ALBANY, N.Y. - Gov. George Pataki in his Jan. 9th State of the State address, mentioned and indicated his support of two issues high on credit unions' agenda. In a discussion of what small business owners in New York State "need to grow and prosper," Pataki said the state will...

By Staff Writer | Updated on January 22, 2002

<p>ALBANY, N.Y. – Gov. George Pataki in his Jan. 9th State of the State address, mentioned and indicated his support of two issues high on credit unions’ agenda. In a discussion of what small business owners in New York State “need to grow and prosper,” Pataki said the state will “dramatically expand” the Excelsior Linked Deposit Program this year, which provides low cost loans to small and start-up businesses in New York State. Credit unions are excluded from participating in the program under current state law, but CUs and the league have argued that they should be able to participate in it. Last year, such a provision was passed in the State Assembly, but it did not pass in the Senate prior to the September 11th attacks. The governor also said he planned to stay the course on a commitment to tax cuts. The New York State Credit Union League said the governor’s comment implied potential support for calls for state CU parity with federal credit unions on the issue of exemptions from state and local sales tax.</p>

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