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CHICAGO – One credit union founder is hoping Election Day results will offer him a chance to become an Illinois state senator. As Illinois State Senator Barack Obama overwhelmingly defeated his Republican opponent Alan Keyes on Nov. 2 for the U.S Senate seat, Al Holfeld, one of the founders of the $1.3 million South Side FCU, is hoping to fill the vacant seat. Holfeld, along with six other candidates, will vie for the coveted seat, which represents the 13th Senate District on Chicago’s South Side. Hofeld, who helped found the credit union in November 2003, is pushing for an end to predatory lending, education reform and low-income housing. He has said predatory lending remains a huge problem on Chicago’s South Side mainly because banks tend to do 500% charge-ups on pay-day loans to low-income people. He is also advocating legislation that would permit attorneys to earn fees from home foreclosure cases. Attorneys would be more inclined to take the cases if fees are earned, he said. Senator-elect Obama will be the only African-American senator when the Senate convenes and the fifth such legislator since Reconstruction. A widely popular legislator, Obama gained national prominence after delivering the keynote speech at the Democratic National Convention in July.

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