WASHINGTON — Credit union lobbyists are working hard to see ifthey can attach different parts of the Credit Union RegulatoryImprovements Act (H.R. 1537) to the so-far fast-moving economicstimulus package.

“We have been working with Congressional leaders on how creditunions could be part of different strategies to keep the countryworking,” explained Brad Thaler, NAFCU's director of legislativeaffairs. He admitted that the possibility that parts of CURIA couldbe added to the economic stimulus package might seem remote, butthat budget-conscious legislators seemed particularly attracted tothings they could do that would not carry any cost.

NAFCU's staff is not alone in the effort. CUNA lobbyists havealso been busy and drafted a letter to congressional leaders onboth sides of the aisle to press the case for lifting of the memberbusiness lending cap in the economic stimulus bill. In its Jan. 23letter, CUNA argued for both raising the member business lendingcap from its current 12.25% of total assets to 20%, as well asincreasing the minimum threshold for a qualifying member businessloan from $50,000 to $100,000.

“This proposal is targeted toward middle and lower incomeindividuals,” CUNA wrote. “In 2001, the Department of Treasuryestimates that 45% of credit union member business loans went tohouseholds with incomes less than $50,000.

According to Ryan Donovan, CUNA vice president of legislativeaffairs, the trade group continued to discuss inclusion withcongressional leaders last week. The House-approved version of aneconomic stimulus package, which contains only six provisions, doesnot address credit unions. Donovan said CUNA is now shifting itsfocus to the Senate with the hope that legislators there will havea broader stimulus package though House Speaker Nancy Pelosi(D-Calif.) is asking the Senate action not threaten the delicatebalance negotiated between the House and the Bush Administration.The bill passed the House 385-35.

Congress received thousands of requests for inclusions in theHouse's economic stimulus package last week, Donovan said. He, too,noted that the member business lending proposal could be theexception among those because it does not have a revenue componentattached.