University of Iowa Community Credit Union CEO Jeff Disterhoftextolled the virtues of credit union business lending during a townhall meeting with President Obama and urged him to support a hikein the cap on member business lending.
Disterhoft, whose credit union is based in Iowa City, made hisremarks Tuesday during a forum at Northeast Iowa Community Collegein Peosta. Obama said he would take the suggestion back toWashington.
“I told him that we are near our cap and just on Monday I had toturn a credit-worthy electrical supply company down for a loan. Ithen talked about what raising the cap would do to create jobs andincrease the flow of credit to many communities,'' Disterhoft toldCredit Union Times on Wednesday.
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