Credit union trade associations continue to work contacts on Capitol Hill in an effort to craft a small businesses package that would include S. 2231, the Small Business Lending Enhancement Act, which would raise the credit union member business lending cap from 12.25% to 27.5% of assets.

The package, which would include items both credit unions and banks said they need to better serve small businesses, would end legislative gridlock among lawmakers who have said they don't want to vote on the member business lending bill because it would alienate them from valuable credit union or bank supporters.

CUNA Senior Vice President for Legislative Affairs Ryan Donovan said while credit unions have identified MBL as key to serving small businesses, banks are lobbying for an extension of the FDIC's Transactional Account Guarantee program, which provides deposit insurance coverage for noninterest-bearing transaction accounts.