Wisconsin Voters Back CU MBL, League Says
Three quarters of Wisconsin voters polled by the Wisconsin Credit Union League said they backed a move to lift the CU member business cap, the League announced.
"An even larger majority of those polled - 84% - say they'd be even more likely to support the measure knowing it would create $389 million of new credit for Wisconsin firms, add 4,229 jobs here and cost taxpayers nothing," the League said.
The League noted that The Wall Street Journal reported that bank lending has declined at the sharpest rate since 1942 and that CUs wanted to help.
"In Wisconsin, banks' business lending decreased 19% from March 2009 to March 2010," the League said. "During that same period, Wisconsin credit unions increased their business lending by 11%, but many have maxed out what they can lend to businesses because of the federal cap."