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WASHINGTON-Congress-man Mike Michaud (D-Maine), a former credit union board member whom credit unions rallied behind to get elected when he first came to Congress, impressed upon credit unions that every one makes a difference. “In reality, what you’re doing here today does make a difference,” he said; lawmakers do listen to their constituents. Likewise, Michaud added, “We have the power to make a difference in races across the country. We did it in Maine.” He said, “I will never forget the role that you played.” Michaud related some of his own credit union experiences. He told of how-as a cocky 20-something-he did not want to get a co-signer on his first vehicle loan, which the bank was insisting on. He went over to his credit union and explained the situation, and an employee there told him not yes, but “Yes, dear.” When the mill he worked at for 30 years filed for bankruptcy, the credit unions were providing the loans to help people get by when they were laid off. “That’s the type of service that makes the difference between banks and credit unions,” Michaud stated. He pointed out that credit unions provide healthy competition for the banks and excellent member service.That is why credit union authorities should be strengthened and he signed on as an early co-sponsor to the Credit Union Regulatory Improvements Act (H.R. 2317).

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