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League of Southeastern Credit Unions & Affiliates Commemorate Credit Union Day at the Florida Capitol & Call for Support of 2013 Legislative Priorities
Credit Union Members & Supporters Visit State Lawmakers to Express Support of Legislative Agenda Tallahassee, Fla. The League of Southeastern Credit Unions & Affiliates (LSCU & Affiliates), along with credit union members and supporters from across the state, will be visiting lawmakers as part of their 2013 State Governmental Affairs Conference and day at The Capitol. The LSCU & Affiliates represents the interests of credit unions in Alabama and Florida before federal and state legislative and regulatory bodies. On behalf of the LSCU & Affiliates, it is my honor to be joined today by so many active voices of support from all corners of the state, as we call on Florida lawmakers to support our priority legislative proposals, said Patrick La Pine, LSCU & Affiliates president and CEO. Our No. 1 priority this session is a proposal that will finally give municipalities the option to take their funds elsewhere if their specific needs are not being met. We believe this should be a logical and willing step for our state leaders to take during a tough economic environment, when municipalities and public offices deserve depository choice and the opportunity for greater savings and greater returns on their deposits. Todays lawmaker visits conclude the two-day conference events that included a State Legislative Outlook address, given by Governor Rick Scotts Director of Legislative Affairs Darrick McGhee, and a Finan cial Outlook address, given by Florida Chief Financial Officer Jeff Atwater. Supporters will be visiting lawmakers throughout the day to advocate for support of Senate Bill 918, sponsored by Senator Rene Garcia (R-Hialeah), and House Bill 251, sponsored by Representative Bill Hager (R-Boca Raton), that would allow credit unions to bring competition to the public deposits market and provide a unique opportunity for local entities to take advantage of community-based financial institutions, whose memberowners are the very people these government entities serve. I filed this important bill to create a vehicle for greater consumer choice for public offices and municipalities, said Senator Garcia. Credit unions were founded on the principle of service and to give back to their members in the form of greater savings and better returns. It is only logical to me, that we allow for credit unions and public entities to work together to meet their mutual goal of continued service and investment for their local communities.
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LSCU - PAGE 2 This legislation seeks to make a much-needed change to state law by providing public offices with the option to deposit their funds into local credit unions and keep these locally-raised funds within their communities, said Mary Ott Wood, chair of the LSCU & Affiliates Board of Directors and CEO of Florida West Coast Credit Union. By allowing credit unions to accept public deposits, the legislature would establish a framework that will help drive better returns and optimal economic benefits to taxpayers. Credit unions across Florida are forced to turn down deposit requests from local government entities because state law renders them ineligible to receive these funds. If successful, the proposal would require credit unions to meet the same public depository requirements as for-profit banks, and would hold credit unions to the same accountability and financial protection standards as for-profit banks. For more information on the League of Southeastern Credit Unions & Affiliates, please visit www.lscu.coop. ###