The campaign by CUNA and state leagues to win wide lawmaker backing on member business loans drew support last week from an unexpected source-Florida's chief financial officer and a candidate for governor in the August primary.
In a March 29 letter to NCUA Chairman Debbie Matz, Alex Sink, a Democratic candidate in the Aug. 24 primary, said she supports lifting federal limits for CUs to help boost small business lending currently constricted by banks.
In her letter to Matz, Sink said she has been hearing from Florida small businesses on a regular basis complaining about the lack of credit, pointing out also that "90% of all commercial activity in the state comes from small businesses."
Sink, who is considered the leading gubernatorial candidate in her party among 21 contenders, said also that "credit unions are an important partner in giving small businesses the tools they need to grow jobs and grow our economy."
The Sink letter was distributed by the League of Southeast Credit Unions on its daily newsletter to its members and other national trade groups to demonstrate another testament of grassroots support for MBL legislation currently before Congress.
Patrick LaPine, president/CEO of LSCU, lauded Sink for stepping forward to write Matz, adding the endorsement is timely for Florida credit unions in pressing ahead with winning MBL backing from state congressmen. He also said the same goes for Alabama CUs which are part of LSCU.
"To have CFO Sink write a letter to the NCUA shows our credit unions that state leaders understand that credit unions are doing their part to lend money, help their members and that they can do more," LaPine said.