Noting that unlike banks, credit unions haven’t sought government help to deal with the effects of the financial crisis, NAFCU today urged lawmakers to bring a measure to raise the cap on member business loans to a vote.

“Not-for-profit credit unions do not need taxpayer dollars to lend to small businesses; rather they only need the removal of the arbitrary and artificial government cap (12.25% of total assets) on member business lending to help our economy. NAFCU believes that the strength of the economy and labor force is strongly influenced by the health and well-being of the small business community. Credit unions themselves are small businesses and in these tough economic times are in a solid position to understand and help fellow small businesses with access to capital issues,’’ NAFCU Executive Vice President Dan Berger wrote to House and Senate members.

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