ASI backs bill giving private credit unions access to Federal Home Loan Banks

Columbus Business First

American Share Insurance, a Dublin-based private insurer of credit unions deposits, is pushing for legislation that would open theFederal Home Loan Bank system to the institutions it serves.

Bills have been put forth by Ohio Sens.Sherrod Brown and Rob Portman and by Ohio Reps. Joyce Beatty and Steve Stivers, with each allowing privately insured credit unions, including 58 in Ohio, to  access secured loan advances from the systemand thus increase lending.

While similar legislation has been introduced in the past, American Share CEO Dennis Adams and other proponents believe the timing is right with credit still restricted for many consumers.

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ASI backs bill giving private credit unions access to Federal Home Loan Banks »