MCUL CEO Takes MBL Message to Detroit Airwaves (Misc News: April 16, 2012)
With senators now back from their spring recess and an historic vote on credit union member business lending expected soon, MCUL & Affiliates CEO David Adams took part in a radio interview touting the issue.
On Monday, MCUL & Affiliates CEO Dave Adams was a guest on the Charlie Langton morning radio program on WXYT 1270 AM in the Detroit area.
In the interview, Adams began by explaining basic differences between credit unions and banks, before then discussing the importance of S.2231, which would raise the credit union member business lending cap from its current 12.25 percent of assets to 27.5 percent.
“Credit unions have always made these sorts of loans, going back to the very beginning, coming out of the Depression Era,” Adams told Langton. “A lot should be done and a lot has been done to strengthen our banking sector, but credit unions shouldn’t be left out. Credit unions are the ones that want to be able to lend this money right now.”
Adams stressed that the only opposition to the bill, which has bipartisan support in both the U.S. House and Senate, has come from the banking lobby.
“I’m not a bank basher,” Adams said, “But it’s amazing to me that when we have banks not making commercial loans for a variety of reasons, they’re the ones lobbying against credit unions who just want the ability to do so, and in between are the small businesses who simply want access to capital to create jobs and help the economy.”
To hear the full interview, click here.