Assemblyman David Weprin & Credit Union Association of NY To Hold Sun. Press Conference at City Hall Steps

NEW YORK, NY (06/11/2010)(readMedia)-- Contacts: Amy Kramer, (518) 469-5071 (cell); Lisa Del Valle, Assemblyman David I. Weprin's office, (347) 844-0921 (cell); Kyle Kotary, (518) 542-1988 (cell); Bonnie Sklar, Public Relations Coordinator, (518) 944-0831 (cell)

Assemblyman David I. Weprin (24th AD, Queens) and the Credit Union Association of New York, representing 451 New York credit unions and 4.4 million New York credit union members, will hold a press conference on Sunday, June 13th, at 1 p.m. on the steps of City Hall in New York City, to call on the State Legislature to pass municipal deposit choice.

Municipal deposit choice allows local government entities such as cities, towns, counties, school districts, fire districts and public libraries the option of depositing tax dollars in local credit unions or community savings banks. Currently, corporate banks have a monopoly on municipal tax deposits.

"I strongly support municipal deposit choice which simply gives local governments the ability to deposit their tax dollars in credit unions and community savings banks in addition to corporate banks," said Assemblyman David I. Weprin, former chairman of the New York City Finance Committee, former deputy superintendent of Banks for New York State and a member of the New York State Assembly Committee on Banks. "That's why I co-sponsored Assemblyman Carl Heastie's bill which lets our local governments make the best choices with our tax dollars and keeps our tax dollars in our local communities."

"Together with Assemblyman Weprin, we are asking the State Assembly to join the Governor and State Senate in supporting municipal deposit choice," said William J. Mellin, president/CEO of the Credit Union Association of New York. "This much-needed reform allows local governments, including schools and libraries, the freedom to deposit their taxpayer dollars in credit unions and community savings banks, as well as, large commercial banks. This will help local governments