Community banking

Feedback: CU Biz Lending Limit Isn't the Issue

March 10, 2010, 11:57 a.m. EST 1 Min Read

Re "Politics, Economics Clash in CUs' Bid to Lift Cap," March 8] Doubling the credit unions' member business loan limit won't increase small business lending or create jobs. Nationwide, credit unions' $33.4 billion in member business loans are just 3.7% of their $885 billion in assets. That's less than one-third of the existing member business loan authority (which is capped at 12.25% of assets). You don't change "clunkers" into Maseratis by doubling the speed limit. There will be no jobs from this; the limit isn't the issue.

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Don Childears, president and CEO
Colorado Bankers Association

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