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HARRISBURG, Pa. – Gov. Mark Schweiker signed the State Credit Union Parity bill in to law Dec. 9. The bill passed the state Senate in June by a 49-0 vote and the House of Representatives in November by a vote of 197-0. Among the provisions of the law, it: allows state chartered CUs to participate in any activity permitted a federal credit union as authorized by the Federal Credit Union Act and NCUA rules and regulations; permits SCCUs to create, amend or expand their fields-of-membership as allows in the FCU Act; enables state-chartered CUs to control, hold an interest in or participate in a credit union service organization (CUSO) and engage in activities allowed a FCU; make housekeeping changes to the State Credit Union Code by the state Department of Banking. Pennsylvania Credit Union League Chairman John Kebles recognized CUs’ “intense and persistent” lobbying effort in securing passage of the bill, and he thanked Gov. Schweiker for his action to strengthen the state’s credit union system.

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