A Wednesday House committee hearing on capital access mustinclude CU business lending, CUNA has urged.

CUNA President/CEO Bill Cheney offered that suggestion in aletter to capital markets and government-sponsored enterprisesubcommittee Chairman Scott Garrett (R- N.J.), and Ranking MinorityMember Maxine Waters (D-Calif.) the day before a scheduled hearingon legislative proposals to facilitate small business capitalformation and job creation.

Cheney said “it is clear that credit unions have a history ofsafe and sound lending, have consumer demand for our products, asevidenced through our growth, and have a willingness to help smallbusiness owners weather the current economic situation.”

CUNA said any serious discussion of access to capital for smallbusinesses must include credit union business lending and the12.25% member business lending cap.

There are approximately 175 credit unions with business loansamounting to more than 10% of their total assets that are at thecap, according to CUNA. Another 180 credit unions with businessloans amounting to between 7.5% to 10% of their total assetsare approaching the cap and will likely be capped within two tothree years, the trade group said.

Bills that would raise the cap are pending in both the House and the Senate.