WASHINGTON—CUNA Wednesday sent a letter to Congress stating its support for amendments in the highway bill under review by the Senate this week.
In the letter to the Senate conference committee, CUNA said it backs provisions in the bill that would permit privately insured credit unions to join the Federal Home Loan Bank System, and another that would modernize privacy notifications.
The House’s version of the bill, H.R. 22, passed last week by a vote of 363-64.
CUNA President and CEO Jim Nussle urged the Senate to keep the two provisions in the bill and to pass the legislation.
“Credit union employees and volunteers work every day to deliver service excellence to their members, but there are several statutory and regulatory barriers that keep credit unions from more fully serving the savings and credit needs of their members,” wrote Nussle. “Section 75001 and Section 82001 would remove a couple of those barriers by modernizing privacy notifications and permitting privately insured credit unions to join the Federal Home Loan Bank System, respectively.”