State leagues, hoping to take advantage of the soured-bank climate, are making new legislative gains this week in moving along enabling bills allowing deposit of public funds in credit unions.
On Monday, as expected Gov. Ted Kulongoski signed into law a measure effective in two years removing the current $250,000 limit on public fund deposits a CU can receive. The bill had been shepherded through both chambers by the Credit Union Association of Oregon during a shortened February session.
In New Jersey, attention was being focused on the State Assembly following reintroduction of an enabling bill in the state Senate by its president, Steve Sweeney, which would amend the Government Unit Depository Protection Act to permit counties, school boards, and municipalities to utilize CU's as depositories.
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