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HARTFORD, Conn. – CURIA isn’t law yet, but that didn’t stop Connecticut Gov. M. Jodi Rell from signing into law two legislative proposals that feature provisions included in the Credit Union Regulatory Improvements Act (CURIA). The two proposals signed by the governor May 9 were both sponsored by the Connecticut Credit Union Association. They’re both effective Oct. 1, 2005. Public Act 5-27, “An Act Concerning the Field of Membership of a Connecticut Credit Union” amends state law to allow SEG-based state-chartered credit unions to retain SEGs that are outside of their community when they convert to a community-based field-of-membership. Public Act 5-28, “An Act Concerning Check Cashing and Wire Transfers by Credit Unions” amends state law to allow check cashing and wire transfers for non-members who are within a SCCU’s FOM. “Since we anticipate that CURIA will eventually become law for federal credit unions, we wanted to ensure that our state-chartered credit unions have the same opportunities in these areas,” said CCUA President/CEO Arthur Correy. He added that, “The ability to offer check cashing and wire transfer services to nonmembers within a credit union’s field of membership will allow our credit unions to more ably serve the underserved. Hopefully, these nonmember relationships will then turn into traditional memberships.” Commenting on Gov. Rell’s signing of Public Act 5-27, Correy said “the Connecticut legislature has preserved trusted relationships that, in many cases, have existed between credit unions and employee groups for many decades.” -

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