TOPEKA, Kan. — Kansas credit unions were stepping up their lobbying of state lawmakers this week to fight off an attempt by the banking lobby to impose field of membership limits on state chartered CUs.
The latest attack on CU expansion surfacing in House and Senate committees was being directed at altering language on CU-backed codification legislation, which follows banker-backed hearings held last year by an interim legislative panel with calls to restrict state FOM growth according to federal guidelines.
If enacted with banker-added changes, CU operations would be needlessly and “negatively impacted,” warned the Kansas Credit Union Association.
The KCUA maintains FOM laws have worked well for 60 years with no need to change them.
“It's all a matter of credit unions trying to protect the rights of consumers to choose their own financial institution,” said Haley DaVee, political affairs specialist for KCUA.
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