releases: 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
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| 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 | 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 Thursday, December 12, 2013 WASHINGTON, DC – 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 – Ohio is home to The Federal Home Loan Bank of Cincinnati. “This 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,” Brown said. “By 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.” “This 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,” Portman said. The legislation is supported by the Ohio Credit Union League, the state trade association representing Ohio’s credit unions. “Ohio 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’s legislation that, if enacted, will allow all credit unions access to the Federal Home Loan Bank system,” said Paul Mercer, President, Ohio Credit Union League. Brown and Portman’s legislation would provide more than 150 privately insured credit unions in nine states –including Ohio –access 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. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |