League testifies in support of adoption linked-deposit legislation

Published by: Emily Leite

February 6, 2020 | Government Affairs

To help make the home adoption process more affordable for credit union members, the League testified in favor of House Bill 405 to permit credit unions to hold low-cost deposits from the Treasurer of State, as long as the savings are passed along to members through lower rates of interest on loans or lines of credit. A member must also agree to use the loan only to cover adoption costs such as a home study. House Bill 405 is a great example of the credit union philosophy of “people helping people” and furthers the Movement’s partnership with the state of Ohio. To help ensure passage of the legislation, we need you to contact your state legislator using VoterVoice. Please reach out to Director of Legislative and Political Affairs Cory Fleming or Manager of Legislative and Political Advocacy Andrew Canan with any questions.

CONTACT US

E: cfleming@ohiocul.org
T: (614) 923-9705
C: (614) 395-0371

E: acanan@ohiocul.org
T: (614) 923-9710
C: (614) 512-0330

Other Movement News

Government Affairs

Chairman Brown touts Ohio credit unions in recent fee hearing

When credit unions speak up, Congress listens. Chairman Sherrod Brown (D-OH) proved that in a recent U.S. Senate Banking, Housing, and Urban Affairs Committee hearing. During the hearing, which aimed […]
Regulatory

Ohio shows united opposition to debit interchange rule

Cards, compliance, and cybersecurity all have a cost, and that is why the League submitted a comment letter expressing serious concern and vehement opposition to the Federal Reserve’s proposal to […]
Member Benefits

2024 Golf Classic returns Aug. 5 with new inclusive event

The annual Golf Classic is one of the largest fundraisers hosted by the Ohio Credit Union Foundation, with credit union champions coming together to support programs that improve communities across […]