ODESSA, Texas — The conversion clash at the $118 million First Basin Credit Union is not the only CU news occupying reporters here.

The Texas Credit Union League, as part of its advocacy media tour which since January has focused on the mortgage meltdown and credit crunch, has this week been getting some upbeat coverage on business lending including a widely circulated featured column in the Odessa American on how CUs are hurt by bank-inspired barriers.

“It was a positive thing to meet with reporters to tell our story on how we've reached our cap and cannot lend any more to those groups that really need the funds,” explained Luther Snell, president of the $49 million Southwest Heritage CU.

Snell, joined by staffers from his CU and the Texas League, spent nearly an hour with editorial writers at the Odessa American, discussing CURIA and which was followed up by an April 9 “In Our View” column taking the banking industry to task for opposing CURIA.

Under the headline “Credit Union Cap Should Be Raised,” the daily Odessa publication said it was mystified why Congress had not acted already in helping entrepreneurs who come knocking at CU doors. It is a “no brainer,” said the paper maintaining there is inequity when banks “have a big advantage” over CUs in an area so vital to local economic growth.

“Common sense would say that caps on credit union business loans should not exist if banks are free of such restrictions,” the column said. “Raising the limit is the best option for the benefit of free enterprise at this point.”

Instant Insights /

Texas League Media Tour Scores on Business Lending

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