Oregon credit unions over the Presidents Day weekend cleared a key hurdle in the clash with banks over investment of public funds following passage of a key bill by the Oregon House, 44-13.
The Credit Union Association of Oregon said it was hopefully optimistic the measure, which goes to a state Senate committee today, can pass the Senate and be signed by the governor allowing the state treasurer, school districts and local governments to invest more than $250,000 in CUs, the current limit.
"This is something that we've worked on for 10 years," said Troy Stang, president/CEO of the CUAO. Newfound support for the measure has emanated from local municipalities eager to work with CUs, said Stang.
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