News Release
Contact: Public Relations Coordinator
(800) 342-9835, ext. 81302008 Election Year Prompts Legislative Voters’ Guide for NY CUs
(September 15 - Albany, NY) – The Credit Union Association of New York has just released their 2008 voters’ guide, which details state legislators’ records on issues affecting credit unions across the state.
“We want to make sure that our members know if their local lawmakers support credit union friendly legislation and credit unions before they go to the polls in November so they can make informed choices when voting,” said the Association’s President/CEO, William J. Mellin. “The bottom line is that it’s essential for credit unions to support legislators who support credit unions and their more than 4.2 million members to ensure the future health and well-being of credit unions.”
The Voters’ Guide 2008: An Insider’s Guide to the State Legislature’s Credit Union Record, provides a legislative summary of the progress made on behalf of New York credit unions during the 2008 session. It presents leadership profiles and reveals which state lawmakers’ sponsored/co-sponsored the five top bills of benefit to credit unions in 2008, which included:
- Municipal Depository Choice (A.6511/S.3664, A.6856/S.4054, A.7322-A/S.4071-A and A.7030): Would allow municipalities to make deposits in credit unions; the second set of bills places a cap on the deposits.
- Excelsior Linked Deposit Program (A.3250/S.4629-B): Looks to permit credit union participation in a program that allows other financial insititutions to leverage state funds to make affordable loans to small businesses.
- Credit Union Development Districts (A.56-A/S.2867-A): Seeks to have credit unions included in a program that provides property tax breaks to banks and thrifs that establish branches in underserved areas and allow municipalities to invest funds in those instituions at special interest rates.
- Financial Education (A.9972/S.851-A): Would require financial education instruction to be included in the school curriculum for all students across the state in grades nine, eleven or tweleve.
- Robbery Legislation (A.3521/S.3744): Intends to deter the crime of robbery by stiffening penalities, especially as the number of robberies continues to increase throughout New York State.
The guide also indicates legislative involvement at the credit union level (visiting a credit union or attending a credit union event) in 2008.
The Credit Union Association of New York has served as the trade association for the state’s credit unions for 91 years. It is the fifth largest league in the country. New York credit unions have assets of more than $40 billion and 4.2 million members. To learn more about the Association, visit www.nyscul.org.
The Voters’ Guide 2008: An Insider’s Guide to the State Legislature’s Credit Union Record
Credit Union Association of New York
P.O. Box 15118, Albany, New York 12212-5118 | 1021 Watervliet-Shaker Road, Albany, NY 12205
800-342-9835 | Fax 518-437-8284
