Getting a small business loan at a credit union could become easier if legislation that lowers lending caps on the industry finally passes, maybe even this year.
The credit union industry is looking to reform the Credit Union Membership Access Act, a 15-year-old change to the Federal Credit Union Act that restricted total loans from rising above 12.25% of the institutions total assets. Multiple bills in Washington have proposed raising the cap to 27.5% -- but to no avail. Read More
The credit union industry is looking to reform the Credit Union Membership Access Act, a 15-year-old change to the Federal Credit Union Act that restricted total loans from rising above 12.25% of the institutions total assets. Multiple bills in Washington have proposed raising the cap to 27.5% -- but to no avail. Read More
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