WASHINGTON–There are few politicians who have appeared before a credit union audience who could cite more ties to CUs than Sen. Cory Gardner.
Speaking to CUNA’s GAC, Gardner said he got his first checking account at a credit union; his father served on the board of a credit union; his father’s farm equipment company received a loan from the credit union; he painted a wall at a credit union as part of a fundraiser for a choir; and he received his first car loan through a credit union.
In short, Gardner said he is a credit union supporter.
He said he is also a supporter of federal legislation to eliminate many of the challenges credit unions face in serving marijuana-related businesses. While he acknowledged he has opposed legalization, the state’s voters have strongly supported it, as have 47 of 50 states in some fashion.
Head in Bong, Sorry, Sand
“Congress is really, really good at sticking its head in the sand and hoping a problem goes away,” said Gardner. “This will not go away.”
As a result, he said he has introduced two pieces of legislation, the STATES Act and the Senate version of the SAFE Banking Act, which has already passed the House, to address some of the challenges.
Gardner acknowledged progress in the Senate may be slow. He noted that of the three states that have not legalized marijuana, all have senators who serve on the Senate Banking Committee. Among the biggest opponents remains Sen. Mike Crapo (R-ID).
“You can’t always believe everything you read in the press,” said Gardner. “While some see no opportunity for it to move forward, I see great opportunity for this legislation to move forward. We need to get this all cash economy out of the shadows and into the sunlight.”