David Morrison’s Nov. 11 article (3 Ways Credit Unions Can Help Veterans) lays out ways in which credit unions can assist veterans as they return to civilian society. It was an excellent and timely article; however, it misses one obvious and important tool at our disposal: H.R. 5061. The bill is currently before Congress to exempt member business loans made to veterans from the MBL cap.

Rep. Jeff Miller (R-Fla.), the chairman of the House Veterans Affairs Committee, introduced this common-sense legislation back in July. The bill recognizes the need to give veterans who want to start or expand a small business more options in where they get vital capital. Even though the measure is simple in its approach, it can have a profound impact on the lives of these deserving veterans, and on the economy in communities in which they now live. 

This is a great example of credit unions helping a particularly important group of people. Every credit union, not just those that serve the military, should enthusiastically get behind efforts to pass the bill when it is reintroduced in the coming Congress. I hope you will also work with your delegation to get them to co-sponsor so we can get this bill passed and much needed credit to our veterans.

Patrick La Pine

President/CEO

League of Southeastern Credit Unions & Affiliates

Tallahassee, Fla.