Public Deposits Bill To Gov.'s Desk

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Senate Bill 331, which would allow Oregon's credit unions to accept deposits from a variety of public entities, passed the floor of the Oregon House of Representatives with a vote of 51 to 5. The next stop for SB 331 is Gov. Kulongoski's office, who had five days after receiving the bill to sign it. The Credit Union Association of Oregon (CUAO), along with Oregon Credit Union Advocates, has been lobbying tirelessly to get the bill passed since it was introduced. Public deposits are public funds deposited into a financial institution by the treasurer of any state or local government unit, or agency of such unit.

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