Statements Supporting Credit Unions from Upton, Huizenga and Miller Make for Near Unanimous Support of Michigan Congressional Delegation (Misc News: August 28, 2013)
MCUL & Affiliates has obtained statements of support for the credit union industry from three additional members of Congress: Reps. Bill Huizenga, Candice Miller, and Fred Upton. While not specific to the credit union tax exemption itself, they are very strong indications of these members’ support for credit unions in general and the friendship they have shown the credit union movement throughout their political careers. With these three statements, the MCUL has now received statements from 15 of 16 members of the Michigan congressional delegation. Rep. Justin Amash, R-Cascade Township, is the sole remaining lawmaker yet to comment.
MCUL & Affiliates CEO David Adams said the support for credit unions from Michigan’s congressional delegation is impressive.
"These final three statements now provide the MCUL with a near clean-sweep of support from our 14 representatives and two U.S. senators,” Adams said. “The only member of Michigan's delegation who declined to provide a statement is Representative Justin Amash. We're hopeful that Congressman Amash will consider providing a statement in the near future.
“However, it is a phenomenal demonstration of support from our Michigan delegation with both senators, along with 10 of our 14 House members providing strong, clear statements of support for the credit union tax exemption. And the additional three statements from Upton, Huizenga and Miller give the Michigan credit union community a near-unanimous level of support from our delegation which includes four House Committee Chairmen (Upton, Camp, Miller and Rogers) and two Senate Committee Chairmen (Stabenow and Levin)."
Upton, R-St. Joseph, said credit unions are a critical element of the economy and added that he will continue to work to give credit unions more business-lending authority.
“Credit unions are at the forefront of our economic recovery, providing essential financial services to communities here in Southwest Michigan and across the country,” Upton said. “As we remain focused on getting our nation back to work, these member-owned and controlled institutions are helping locally owned small businesses grow, invest, and create jobs in our area. I will continue to stand by our community credit unions and work to lift the credit union member business lending cap.”
Miller, R-Harrison Township, also mentioned the important role that credit unions play for small businesses and the need to remove arbitrary regulatory and statutory roadblocks to serving members in all capacities, including business loans.
“Year after year, credit unions in Michigan and across the nation have led the way in providing high-quality, low-cost financial services to millions of credit union members, especially those in more remote locations which do not regularly receive adequate services from other financial entities,” Miller said. “It is clear how critical these nonprofit cooperatives are to so many – from families, to students seeking loans for education, to small businesses who are the drivers of our national economy. We will continue to work in Congress to ensure credit unions are able to thrive without undue regulatory burdens, and in an environment where they can continue to grow their member-lending services.”
Huizenga, R-Zeeland, pointed out that he is a longtime member of a credit union and said credit unions are vital to the country’s economy.
"As a longtime member of a credit union, I understand the vital role that credit unions play in the financial services industry in Michigan and across the country,” Huizenga said. “As a federal legislator, I believe that Congress's role is to help create a regulatory atmosphere in the U.S. to foster economic growth. We need to ensure that credit unions continue to provide our constituents with the opportunity and ability to achieve the American Dream."
Also supporting the federal credit union tax exemption are both of Michigan Democratic Senators, Carl Levin and Debbie Stabenow. In the U.S. House, Democrats Dan Kildee, Gary Peters, Sander Levin, John Dingell and John Conyers and Republicans Kerry Bentivolio, Mike Rogers, Tim Walberg, David Camp and Dan Benishek have issued statements of support for the tax exemption.