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May 04, 2015

Berger hails National Small Business Week

Marking National Small Business Week, NAFCU President and CEO Dan Berger highlighted credit unions' work with member small businesses and the association's ongoing effort to win an increase in credit unions' member business lending cap.

"Credit unions and small business have a naturally symbiotic relationship," said Berger. "Small business is a catalyst that helps fuel our economy and credit unions are a great source of capital that help Main Street businesses continue to thrive and contribute to America's economy and job growth."

Berger reiterated NAFCU's call for action on bills that would help credit unions do more to meet the credit needs of small businesses, a key element of the association's five-point plan for regulatory relief for credit unions. He urged passage of:

  • H.R. 1133, introduced by Rep. Jeff Miller, R-Fla., which would exclude business loans made to veterans from credit unions' MBL cap;
  • H.R. 1188, the "Credit Union Small Business Jobs Creation Act of 2015," introduced by Reps. Ed Royce, R-Calif., and Gregory Meeks, D-N.Y., which would raise the MBL cap to 27.5 percent of assets for eligible credit unions; and
  • H.R. 1422, the "Credit Union Residential Loan Parity Act," introduced by Reps. Royce and Jared Huffman, D-Calif., which would exempt loans to purchase non-owner-occupied, one- to four-unit dwellings from the MBL cap.

Berger also recognized the recent working agreement he signed with Small Business Administration Administrator Maria Contreras-Sweet. The agreement describes how the two organizations will work together to promote more credit union lending flexibility and greater credit union access to SBA programs to help members.

National Small Business Week runs through Friday.