Public Funds Bill Eyed in Nebraska
LINCOLN, Neb. -- Citing support from lawmakers and a friendly visit with Gov. Dave Heineman, the Nebraska Credit Union League said last week it is considering re-introducing in 2007 a bill to allow deposit of public funds in credit unions, a simmering issue during the last year.
"We do have a lot of support for such a service and there is traction but we want to see how things turn out in the November election," said Scott Sullivan, president/CEO of the league.
Under the state's new term limit law, 22 members of the 49-member unicameral legislature are up for re-election making it a lively political season, said Sullivan.
In the past the banking lobby has managed to kill such bills, but public officials in several areas with a CU as the lone financial institution have sought permission to deposit funds in CUs.
The leadership of the Nebraska League met Sept. 14 with the Republican governor to discuss public funds as well as other top issues including creation of a system to file electronic titles and liens, wild card provisions and financial literacy.
"We were asked by the governor to come sit down at his residence for a meeting and it was a helpful visit," said Sullivan.