University of Iowa Community Credit Union CEO Jeff Disterhoft extolled the virtues of credit union business lending during a town hall meeting with President Obama and urged him to support a hike in the cap on member business lending.
Disterhoft, whose credit union is based in Iowa City, made his remarks Tuesday during a forum at Northeast Iowa Community College in Peosta. Obama said he would take the suggestion back to Washington.
"I told him that we are near our cap and just on Monday I had to turn a credit-worthy electrical supply company down for a loan. I then talked about what raising the cap would do to create jobs and increase the flow of credit to many communities,'' Disterhoft told Credit Union Times on Wednesday.
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