League Showcases CU Service to Veterans Ahead of Senate Banking Hearing

Your League wrote Sen. Mark Warner on Wednesday to tout credit unions’ good work in supporting servicemembers, veterans and their families. In a letter sent ahead of Thursday’s Senate Banking Committee hearing on financial protections for servicemembers and veterans, the League asked Sen. Warner to remain mindful of credit unions’ continued commitment in this area. We noted the proud history of credit unions here in Virginia that were chartered initially to serve various military bases and servicemembers.

The letter also urged Sen. Warner to support legislation that would empower credit unions to build on and expand our service opportunities, including S.539, which would allow credit unions to expand their lending capacity to veterans by exempting member business loans to veteran-owned small businesses from the current -- and arbitrary -- member business lending cap of 12.25% of assets.

• View the letter
• View the archived recording of the hearing