For his support of federal legislation that would ensure small businesses can access loans through credit unions, Racine Mayor John Dickert was recently honored during the Wisconsin Credit Union League's annual Government Affairs Conference.
Dickert was recognized for helping to pass a resolution at the U.S. Conference of Mayors in support of federal legislation that would ensure small businesses can access needed loans through credit unions.
The Conference of Mayors is part of a bipartisan list of more than 30 organizations supporting the measure, including groups representing small businesses, the self-employed and the insurance, textile, realty, construction, automotive and technology industries, according to the league.
A plaque, thanking Dickert on behalf of the 95 million consumers nationwide who own credit unions, acknowledged his help in adding a bipartisan list of 187 mayors to the resolution supporting the Credit Union Small Business Jobs Bill (S.B. 2231/H.R. 1418), the league said.
“Mayor Dickert understands that credit unions can fill today's huge void for business credit because they have billions available to lend, a 100-year history of making business loans safely, the support of federal regulators and the support of 80% of Wisconsin voters who,” said Brett Thompson, president/CEO of the Wisconsin Credit Union League.
The legislation, which was introduced in the previous 112th Congress, would have increased the ability of the financial cooperatives to extend additional credit to small businesses at no cost to taxpayers, according to the Wisconsin league.
A similar version of the bill is likely to be reintroduced as part of the current 113th Congress.
In the first year alone, the Credit Union Small Business Jobs bill would have made available $14 billion in new credit and 157,000 new jobs nationwide, the league said. In Wisconsin, it would have provided $458 million in new credit and created almost 5,000 jobs.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
