The Northwest Credit Union Association is keeping a close watch on two new proposed laws, including one that would impose a corporate excise tax on Oregon's state-charted credit unions and interstate credit unions holding any public funds deposits that exceed $250,000.

Oregon H.B. 2486 was introduced earlier month and is essentially the same bill that was introduced in the 2011 session but never received a hearing, according to the NWCUA. The excise tax also would apply to any credit union holding commercial loans that collectively exceed 10% of the credit union's assets and would apply to tax years beginning on or after Jan. 1, 2013.

The second bill, H.B. 2485, would subject Oregon's credit unions to rules similar to the U.S. Community Reinvestment Act of 1977 that encourages banks to meet all of the credit needs of the communities they serve, particularly low- and moderate-income communities.