In Brief: Oregon Senate Passes CU Deposit Bill

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SALEM, Ore. - The Oregon Senate overwhelmingly approved a bill that would let Oregon municipalities deposit their funds in credit unions.

The bill passed by a margin of 22-to-5 Thursday and now moves to the House for a vote.

Meanwhile, House leaders agreed Thursday to hold a hearing on a bill that would tax the state's largest credit unions. Had it not agreed by Friday, April 11, to hold a hearing the bill would have expired. The bill would apply the state's 6.6% excise tax to state-chartered credit unions with more than $100 million of assets.

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