Mitt Romney's victory in Wisconsin's presidential primaryTuesday may have been a top news headliner but for credit unions sowas Gov. Scott Walker signing three key bills on charities, publicfunds and the Uniform Commercial Code.

The Wisconsin Credit Union League contended that easy passage ofthe bills and their enactment demonstrates the industry's newlegislative muscle and a positive sign in the fight over member business lending in Congress.

“One bill, doubling the amount credit unions can contribute to a charity from 0.5% to 1% of regular reserves,passed the state Senate unanimously and that in itself is no smallachievement even though this may not be earth-shatteringlegislation,” said Tom Liebe, the league's vice president ofgovernmental affairs.

Meanwhile, the new public funds law sets up a new frameworkallowing public entities to use syndicated services in placing deposits in credit unions, a service not previouslyavailable.

Liebe pointed out that credit unions are already empowered toreceive municipal funds. “We recognize that considering liquidityconditions in the current rate environment, many credit unions arenot looking for such funds now, but we want to be ready in thefuture when they may want them,” Liebe said.

The third bill Walker signed is an update of the UniformCommercial Code. The new law harmonizes how securedtransactions are processed, putting Wisconsin credit unions are onpar with financial institutions in other states, the leaguesaid.

All three bills become effective 90 days after the governor'ssigning.