Alabama CUs Fight Off Transfer Of $500K

The Alabama Credit Union League said it successfully lobbied to prevent a transfer of $500,000 from the Alabama Credit Union Administration (the state's regulator of state-chartered credit unions) to the state's general fund budget. The original proposal called for transfers from the funds of such state agencies as the ACUA, the Banking Department, and the Insurance Department. The purpose of the transfers was to shore up the state's general fund budget, which is strained due to the recent weaker economy, according to the league.

The ACUL reported that league and governmental affairs staff met with House and Senate leadership, working to keep the proposal out of the budget legislation. "They also had the back-up of a striking amendment and the support necessary to pass it should the transfer appear in the bill," the league said. In addition, ACUL representatives had conversations with Gov. Don Siegelman and his staff, getting his assistance in clearing the way to remove the transfer. The transfer language did not appear in the original bill, and, although there was some discussion about the matter on the Senate floor, no attempt was made to re-insert the transfer.