Credit Union Start Up Fund Bill (Law'd)

[Southern Senator North Carolina Yankee]

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Sponsor: Afleitch

[Fritz]

What is this Credit Union Foundation (CUF)?

[afleitch]

What is this Credit Union Foundation (CUF)?

The bill is setting this up in Section 1.

[Purple State]

Is $100 million enough for something like this?

[Hans-im-Glück]

I believe that this proposal is very reasonable. I would support it. Maybe $ 100 million but are too few.

[Badger]

Is $100 million enough for something like this?

Indeed. That sounds small for even a pilot program.

[Southern Senator North Carolina Yankee]

With no substantive input having been added since the 15th I open up a final vote on this legislation. Please vote Aye, Nay or Abstain.

[Mint]

Nay.

[Southern Senator North Carolina Yankee]

Nay. Its too small to achieve its stated purpose and one must wonder at appropriate levels whether it would have been a worthy cost. We have to get tighter with our pennies around here you know.

[MaxQue]

Abstain. I had some comments to do, but I was waiting Afleitch to answer the question about costs.

[Fritz]

Oh what the hell- Aye

[Hans-im-Glück]

AYE

[tmthforu94]

Abstain

[afleitch]

Aye.

There isn't much love for this bill. And to be honest I didn't feel the need to elaborate on what is a very simple bill. Given that the capital of a credit union is the investment of it's members, the $100 million which I was happy to chalk up to the national debt (along with past big business bailouts) was to allow for propety to be rented, provisions bought to allow a credit union to grow roots in the community. Sometimes thats the only help it needs. I felt $100 million was adequate in beginning a find against loansharks and unscrupulous lenders.

[Southern Senator North Carolina Yankee]

Aye.

There isn't much love for this bill. And to be honest I didn't feel the need to elaborate on what is a very simple bill. Given that the capital of a credit union is the investment of it's members, the $100 million which I was happy to chalk up to the national debt (along with past big business bailouts) was to allow for propety to be rented, provisions bought to allow a credit union to grow roots in the community. Sometimes thats the only help it needs. I felt $100 million was adequate in beginning a find against loansharks and unscrupulous lenders.

One must ask though what this would achieve. Give loans to people who shouldn't have them in the first place? If you have to go to a loanshark then it would seem to me that such a person shouldn't be getting credit.

[afleitch]

One must ask though what this would achieve. Give loans to people who shouldn't have them in the first place? If you have to go to a loanshark then it would seem to me that such a person shouldn't be getting credit.

I won't even dignify that statement with a response I'm shocked you know so little about the need for credit and how difficult it is for low income fiscally responsible earners to get access to credit.

[Badger]

As in my mind I consider this $100 million venture a pilot project rather than a far too short attempt to nationally address the problem of credit access in low income areas:

AYE.

[Southern Senator North Carolina Yankee]

One must ask though what this would achieve. Give loans to people who shouldn't have them in the first place? If you have to go to a loanshark then it would seem to me that such a person shouldn't be getting credit.

I won't even dignify that statement with a response I'm shocked you know so little about the need for credit and how difficult it is for low income fiscally responsible earners to get access to credit.

Clinton said the same think in the early 90's look where that got us.

[Southern Senator North Carolina Yankee]

Senators voting in the affirmative(4): Afleitch, Badger, Fritz, and Hans-im-Gluck

Senators voting in the Negative(2): Mint and NC Yankee

Senators MaxQue and Tmthforu94 abstained.

Duke, and Hashemite did not vote.

The bill currently has enough votes to pass. Senators have 24 hours to change their votes.

[Hash]

Aye ftr

[Fmr. Pres. Duke]

Nay, with so little funds actually going to the project. $100 million is just a splash in the pan.

[Badger]

Nay, with so little funds actually going to the project. $100 million is just a splash in the pan.

Agreed, but see my note above considering it to be essentially a pilot project.

$100 million may be too small on a national scale, but that's no reason to opposed the bill, IMHO, as the $100 million will likely help the situation (albeit not solve it).

[Southern Senator North Carolina Yankee]

The bill is passed and presented to the President for his signature.

[Lief 🗽]

X Lief