Sen. Al Franken (D-Minn.) pledged his support to raising the member business lending cap and to credit unions in general when he spoke to the Minnesota Credit Union Network’s annual meeting and convention.
Former Gov. Tim Pawlenty also spoke at the convention last week, joining Franken in praising credit unions for their service model and contributions to their communities and the state, the network said.
Franken is a co-sponsor of the Senate bill that would double the member business lending cap to 27.5% of assets. He told the MnCUN gathering that credit unions kept lending during the recession as banks were retreating and that he was dedicated to helping credit unions lend more to small businesses.
“I want you to be able to continue providing capital and to continue doing that at a more robust rate by raising the cap,” he told the group.
Pawlenty, meanwhile, shared some insight from his unsuccessful bid for the Republican presidential nomination and on the challenges facing the economy.
“The answer resides not with career politicians but with entrepreneurs. The real juice of the economy is small and mid-size businesses,” Pawlenty said.
The former governor added, “I’m a member of a credit union, and I’m a very satisfied member. I hope you are proud to be working with and for credit unions. They do wonderful work.”
The MnCUN said more than 330 staff and volunteers from 78 credit unions attended the annual conference held last Friday and Saturday at a Bloomington, Minn., hotel.
Below, former Gov. Tim Pawlenty shares some political insight with the audience at the MnCUN annual meeting.