CCUL applauds Ose plan to let CUs cash nonmembers' checks

RANCHO CUCAMONGA, Calif. – The California Credit Union League applauded the announcement by Rep. Doug Ose (R-Calif.) that he will introduce legislation to allow federal credit unions to cash checks for nonmembers who are in a credit union's field-of-membership. Ose's "Expanded Access to Financial Services Act of 2002″ amends the Federal Credit Union Act to allow FCUs to sell, to people within their field-of-membership, travelers checks, money orders, and other similar money transfer instruments, and to cash checks and money orders for people within their field-of-membership. CCUL Vice President, federal government, Chris Kerecman said Ose's bill "will provide a valuable service for consumers. We have been asking Congress to give us the legal authority to better reach these communities. Congressman Ose has responded, and we applaud him for introducing this legislation.Congressman Ose's actions will go a long way in introducing credit unions to unbanked consumers."