TALLAHASSEE, Fla. Lawmakers in the state House and Senate have introduced legislation that would allow municipalities and other government entities to deposit their funds in federally insured credit unions.
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Credit unions across Florida currently are required to turn down deposit requests from local government entities because state law renders them ineligible to receive these funds. If successful, the proposed legislation would give local elected officials depository choice and would allow credit unions to bring competition to public deposits that will drive better returns.
