WASHINGTON — Bill Spearman, CEO of the $590 million Mid-Hudson Valley Federal Credit Union, gave members of the House of Representatives Small Business Committee a credit union perspective on the use of credit cards to finance small-business start ups and CUs’ role in small-business lending.

Spearman, testifying at the April 3 hearing, described how his credit union had to cope with widespread job losses among its members, primarily IBM employees at the time, when the local plant shut down in 1995. Part of the credit union’s efforts included providing its members with capital to transition to new careers, many as budding entrepreneurs, Spearman said in his prepared comments.

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