{"database": "press", "table": "releases", "rows": [["https://web.archive.org/web/20140112002203/http://www.brown.senate.gov:80/newsroom/press/release/sens-brown-and-portman-introduce-bipartisan-legislation-to-make-it-easier-for-credit-unions-to-make-loans-to-families-small-businesses", "Sens. Brown and Portman Introduce Bipartisan Legislation to Make It Easier for Credit Unions to Make Loans to Families, Small Businesses", "2013-12-12", "2013", "2013-12", "Democrat", "House", "OH", "Sherrod Brown", "B000944", "web.archive.org", null, null, "legacy", "Bill Would Give Privately Insured Credit Unions Equal Access to Federal Home Loan Bank and Improve Access to Mortgages, Small Business Loans, and Other Economic Development Loans \n\t\t\t\t\n\t\t\t\n\t\t\t\n\t\t\tThursday, December 12, 2013\n            \n\t\n\t\t\t\n\t\t\tWASHINGTON, DC \u2013 Today, U.S. Sens. Sherrod Brown (D-OH) and Rob Portman (R-OH) introduced bipartisan legislation that would make it easier for privately-insured credit unions to offer loans through the Federal Home Loan Bank (FHLB) system. Currently, privately-insured credit unions are unable to gain access to the Federal home loan bank system, preventing them from receiving secured loans to make mortgage, small business, and other economic development loans to their members. The FHLB System is comprised nationally of 12 banks and more than 8,000 member institutions \u2013 Ohio is home to The Federal Home Loan Bank of Cincinnati.\n\u201cThis will make is easier for Main Street credit unions to offer mortgages to families and loans to small business. Expanding the eligibility of the Federal Home Loan Bank System to privately-insured credit unions is long-overdue,\u201d Brown said. \u201cBy providing these financial intuitions with the ability to join the Federal home loan bank system, we help these community institutions keep more local dollars invested in local communities.\u201d\n\u201cThis bill will help Ohio families and small businesses who continue to struggle through a weak economy by increasing their access to mortgages and loans to buy homes and office space,\u201d Portman said.\nThe legislation is supported by the Ohio Credit Union League, the state trade association representing Ohio\u2019s credit unions.\n\u201cOhio is home to 347 well-regulated, safe and sound credit unions and nearly three million credit union members. We firmly support Senators Brown and Portman\u2019s legislation that, if enacted, will allow all credit unions access to the Federal Home Loan Bank system,\u201d said Paul Mercer, President, Ohio Credit Union League.\nBrown and Portman\u2019s legislation would provide more than 150 privately insured credit unions in nine states \u2013including Ohio \u2013access to additional forms of liquidity through membership in the FHLB system. Current law prohibits these institutions from participation due to a 1989 statutory change which expanded FHLB membership only to commercial banks and federally-insured credit unions, preventing any non-federally insured credit union participation.\u00a0\n###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://web.archive.org/web/20140112002203/http://www.brown.senate.gov:80/newsroom/press/release/sens-brown-and-portman-introduce-bipartisan-legislation-to-make-it-easier-for-credit-unions-to-make-loans-to-families-small-businesses"], "units": {}, "query_ms": 0.997466966509819, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}