Oregon Passes Deposits Bill

Senate Bill 331-a bill to allow Oregon's CUs to accept deposits from a variety of public entities-has been signed by Gov. Ted Kulongosk. The bill had the support of the Credit Union Association of Oregon, which had to fight off attempts by Oregon's bankers to have the legislation attached to a separate bill imposing a corporate excise tax on state-chartered CUs with more than $100 million in assets. After strong lobbying by Cus, the excise tax bill died in committee.