The Northwest Credit Union Association is keeping a close watch ontwo new proposed laws, including one that would impose a corporateexcise tax on Oregon's state-charted credit unions and interstatecredit unions holding any public funds deposits that exceed$250,000.

Oregon H.B. 2486 was introduced earlier month and is essentiallythe same bill that was introduced in the 2011 session but neverreceived a hearing, according to the NWCUA. The excise tax also would apply to any credit unionholding commercial loans that collectively exceed 10% of the creditunion's assets and would apply to tax years beginning on or afterJan. 1, 2013.

The second bill, H.B. 2485, would subject Oregon's credit unionsto rules similar to the U.S. Community Reinvestment Act of 1977that encourages banks to meet all of the credit needs of thecommunities they serve, particularly low- and moderate-incomecommunities.

The Oregon bill proposes to require the director of the state'sDepartment of Consumer and Business Services to adopt rules and setminimal standards to govern the nature and scope of a creditunion's obligations to meet the credit needs of communities.

“We are always in contact with legislators about any kind oflegislation floated by bankers or others that would attempt tohinder services to 1.4 million consumers who belong to Oregoncredit unions,” said Lynn Heider, vice president of publicrelations and communications for the NWCUA.

“Our lawmakers have long understood and supported the value thatcredit unions provide Oregonians and they continue to feel thatway, and so we are prepared for any such legislation,” Heidersaid.