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Credit Union Day at the General Assembly

Date and Time: 
01/28/2010 (All day)

The Virginia Credit Union League's annual Credit Union Day at the General Assembly will be Jan. 28 in 2010. Our theme for this event is "Credit Unions: We're the Solution", and toward that end we're asking volunteers to tell our state legislators what their credit union is doing to help their members and their communities. We ask that participants come prepared with data and anecdotes about their credit union helping people stay in their homes, stay in college, obtain loans for small businesses, offer payday loan alternatives, and provide financial literacy opportunities.

As of now, we do not anticipate the League lobbying for major credit union legislation. Currently we do not have any burning issue before the General Assembly. We know the Virginia Bankers Association (VBA) is considering introducing legislation that would allow banks to purchase credit unions, and vice versa.  In the meantime, the League and our lobbyists will be monitoring bills to ensure that nothing is introduced that could harm credit unions. For example, there is one bill already, SB 20, that would cap car title loans to 36 percent interest. We need to monitor that the language does not evolve to include open-end loan language in the credit union statute.

For the upcoming trip to the general assembly our chapter will organize transportation to Richmond, and the League will provide a hospitality tent at the bus dropoff as in years past. Additionally the League will have a hospitality room or two inside the General Assembly Building with hot drinks. Lunch will be served at noon at the Richmond Convention Center. Please make plans to attend this event. From our legislative roundtable last Fall it was clear that this event makes a positive impact on our elected legislators. To confirm your attendance contact Sandra Shumate at 1-800-475-6328 ext. 1144. There will be a bus leaving from Martinsville with pickups in Danville and South Boston.

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