Veterans MBL bill supports servicemembers’ success after service

Credit unions are in position to help veterans meet success after their service ends, and legislation like the bipartisan Veterans Member Business Loan Act, S. 110 is an important tool in that effort.  

Ahead of Wednesday’s Senate Veterans Affairs Committee hearing, America’s Credit Unions outlined the bill’s potential positive impact on veterans in their transition to civilian life. The legislation, introduced by Sens. Dan Sullivan, R-Alaska, and Mazie Hirono, D-Hawaii, would exempt loans made to veteran-owned businesses from the arbitrary credit union member business lending cap. 

“Given that over 20 percent of transitioning veterans indicate they would like to start businesses, this bill would help a good portion of the veteran community,” wrote America’s Credit Unions Senior Vice President of Advocacy Greg Mesack. “We urge you to support this legislation as you examine this important topic.”

The letter is the latest in America’s Credit Unions’ ongoing advocacy for legislation that allows credit unions to best serve their members—including servicemembers, veterans, and their families. 

Read the full letter