Credit unions cater to about 90 million Americans and provide substantial benefits to local communities and their economies. And yet unlike commercial banks, credit unions do not have access to external capital (e.g. stocks). Additional capital could help accelerate the credit union industry.
The Capital Access for Small Businesses and Jobs Act, H.R. 3993 hopes to change this. The bill would give credit unions the ability to raise capital from alternative sources. Read the entire Huffington Post article to learn more.
Gary Oakland reports, 3/20/2012.