Kentucky Credit Union League President Wendell Lyons said he doesn't think there is a silent majority of credit unions opposed to member business lending legislation, as banker lobbyists suggested in a letter to members of the Senate this week.
However, the league leader said there's not a lot of enthusiasm for S. 2231 among his member credit unions.
Only about 25% of credit unions in the Bluegrass State make business loans, and of those, only 3% of their assets are in MBL, Lyons said. So, there isn't a pressing need to increase the cap in Kentucky, he said.
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