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Credit Union Bill Gets One More Chance

April 2, 1998
By: Tristin Yeager
State Capital Bureau

The Majority House Leader said state Representatives will be getting calls all weekend. Tristin Yeager reports from the state capitol.

Lobbyists for banks and credit unions will be calling because the state House resurrected the bill that would make it easier to form credit unions.

Representative Vernon Thompson asked for the bill to be reconsidered and when questioned on the floor said he had changed his mind.

Actuality:thomps1.wav
RunTime: :20.287
OutCue: "...two or three."
Contents: Thompson said he would vote for credit unions and acknowledged he voted for banks on the previous day and that he had received phone calls concerning the issue.

Banks say the bill would result in unfair competition and credit unions say it will protect their ability to survive.

Banks and credit unions have been given another chance to sway House legislators to their side. Tristin Yeager reports from the state capitol.

The House resurrected the bill that would make it easier to form credit unions. Bill supporters say the bill will insure the survival of credit unions in their competition with banks.

St. Louis County Representative Jim Murphy urged the House to support the bill.

Actuality:murphy1.wav
RunTime: :15.989
OutCue: "...vote this down."
Contents: Murphy said to forget about the greedy bankers and that if you hate the poor you should vote the bill down.

Banks say the bill would give credit unions an unfair advantage. The House is expected to have a final vote on the bill next week.