COLUMBUS, Ohio – Students from Miami (of Ohio) University), traveled to the state House yesterday to lobby against a bill that could doom their student-run credit union, First Miami CU.
The bill would bar campus credit card marketing activities and prohibit institutions of higher education from releasing student directory information to any person or group for use in a profit-making plan or activity.
The credit union, one of only two collegiate student-run credit unions still surviving, serves 1,600 University students and has $1 million in assets. The only other existing student-run college credit union is at Georgetown University.
The chief sponsor of the bill said the measure is concerned with protecting students from predatory lending practices, not eliminating college credit unions and vowed to work with the U of Miami students to limit its effect on their credit union.
