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Rural CU CEOs Tout Work, Ask for Reg Relief

The CEOs of two rural credit unions explained to lawmakers today how they have been helping their members through difficult times and said they could do even more if Congress would let them make more business loans.

By Claude R. Marx | Updated on July 07, 2009

The CEOs of two rural credit unions explained to lawmakers today how they have been helping their members through difficult times and said they could do even more if Congress would let them make more business loans.

“Small credit union operators believe the regulatory scrutiny they face is consistent with both their exemplary behavior in the marketplace and with the nearly imperceptible financial exposure they represent,” Frank Michael, president/CEO of Allied Credit Union in Stockton, California told the Senate Banking Committee’s Subcommittee on Financial Institutions.

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