Credit unions to testify before Missouri House committee

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On April 2, Missouri credit union leaders have an opportunity to share the credit union story before the House Financial Institutions Committee and advocate for field-of-membership parity with banks. Your voice is crucial in influencing our lawmakers to make the right decision.

Here’s how Missouri CUs can make a difference

Reach out to your representatives and senators via Cornerstone’s Action Center Alert and let them know the importance of supporting HB 2452/SB 786. Share that this legislation:

• Promotes fair competition: Banks currently hold 93% of the deposits and over 99% of agriculture and commercial lending in Missouri. Field-of-membership modernization would allow credit unions to compete on a more level playing field than the status quo.
• Enhances consumer choice: FOM modernization would allow consumers to choose from a diverse range of financial institutions, including credit unions, providing them with options that may better align with their values or preferences.
• Encourages financial inclusion: FOM modernization gives credit unions the opportunity to better serve underserved and low-income Missourians, not just a select few.
• Stimulates economic growth: A robust Missouri financial sector (credit unions AND banks) can help meet diverse financial needs of consumers and businesses, fostering a more resilient and prosperous economy.

Attend the hearing in person at 11 a.m. on April 2

Email Morgan Householder for details.

Stay informed 

Keep updated on developments related to this issue. Follow Cornerstone's communications channels, such as the Missouri Legislative Reporter, and stay engaged with the process.

Together we have the power to bring about positive change for Missouri credit unions. Let’s stand together and make our voices heard.