CUs Topic of Senator's "Legislative Update" Show

Related Media

Parker Kramer during Leg Update show

ALBANY, NY (06/02/2010)(readMedia)-- Earlier this week, Amy Kramer, VP of Governmental Affairs for the Credit Union Association of New York, taped a segment of Sen. Kevin Parker's (D-Metropolitan) "Legislative Update" show.

Their conversation focused on the credit union difference: how they operate, the advantages of credit union membership, and legislative issues affecting New York credit unions. The conversation then turned specifically to municipal depository choice.

Sen. Parker is a strong proponent of municipal depository choice. He is the lead sponsor of legislation (S.1782A) that would allow local government entities such as cities, town, counties, school districts, fire districts and public libraries the option of depositing tax dollars in their local credit unions or savings banks. He also had a direct role in the Senate's inclusion of municipal depository choice legislation in their 2010-2011 budget resolution.

A long-time supporter of credit unions, Sen. Parker talked about the credit and jobs crisis that currently prevails in his district. He felt strongly that the way to turn things around in his and other communities is to end the lending crisis by getting credit moving, which would move money into the hands of small business and homeowners, entrepreneurs and ordinary members of the community. And, the Senator said, credit unions, given the opportunity to become depository options for municipalities, are uniquely positioned to do just that.

Municipal deposit reform would help local governments save revenue, by providing local choice, expanding their investment options, and creating more competition. Such reform would also encourage more funds to stay local through community reinvestment, creating more opportunities for local residents to take out personal or small business loans.

In closing, Kramer thanked Sen. Parker for his leadership and active voice in the legislature, as well as for his support of credit unions and their "people helping people" philosophy.

Kramer's segment on "Legislative Update" with Senator Parker will air on BCAT TV (Brooklyn Community Access Television), which has channels on Time Warner, Cablevision, RCN and Verizon cable networks. It can also be viewed on YouTube at http://www.youtube.com/watch?v=Jj_66Iy434Q, and via both Senator Parker's and the Association's Facebook pages.

The Credit Union Association of New York has served as the trade association for the state's credit unions for 93 years. New York credit unions have assets of more than $50 billion and 4.4 million members. To learn more about the Association, visit www.cuany.org.

-30-