SALT LAKE CITY — A compromise deal appeared to be in the works Thursday between credit unions and banks to pass a bill giving limited relief to CUs in making business loans and putting to rest a suggested "financial freedom referendum" this fall, an idea floated by the Utah League of Credit Unions.

Officials of both the Utah League and the Utah Bankers Association said details are being worked out with the Utah House and Senate leadership to pass a bill giving state-chartered CUs power to make loans up to 4% of total assets, up from a restrictive 1% limit imposed years ago.

Also, business borrowers would no longer be required to be members of the CU for six months and the $250,000 limit on business loans would be indexed to increase with inflation

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