A new bipartisan House bill would expand credit unions’ ability to serve small businesses, a top priority as credit unions advocate to provide additional capital to members. Reps. Vicente Gonzalez, D-Texas, and Brian Fitzpatrick, R-Pa., introduced the Increasing Credit Union Lending for Business Growth Act (H.R. 1791). It would exempt member business loans up to $100,000 from the MBL cap of 12.25% of assets, raising it from the current threshold of $50,000 and providing provide greater flexibility for more small businesses to get the loans they need from a credit union.   

“Credit unions play an important role in helping small businesses thrive, as many rely on their local credit unions for safe, secure, and reliable loans. Outdated business loan restrictions limit the credit unions’ ability to empower small business growth that revitalizes communities,” said Carrie Hunt, America’s Credit Unions’ chief advocacy officer. “America’s Credit Unions applauds Representatives Gonzalez and Fitzpatrick for recognizing that credit unions are partners in achieving the American Dream and putting forth this critical legislation to better serve their communities.”   

“Thank you, Representative Vicente Gonzalez, for your leadership in sponsoring this important bill alongside Representative Brian Fitzpatrick,” said Jim Phelps, chief advocacy officer at the Cornerstone League. “Your efforts to exclude net aggregate loans less than $100,000 from the MBL Cap will provide credit unions with the flexibility to better support small businesses and their communities.” 

"CrossState applauds Rep. Fitzpatrick for his ongoing leadership in recognizing the critical role credit unions play in supporting their members and driving small business growth. The Member Business Loan Expansion Act is a meaningful step toward providing credit unions with greater flexibility to meet the evolving needs of local businesses,” said Christina Mihalik, senior vice president of government relations at the CrossState Credit Union Association. “By raising the de minimis threshold from $50,000 to $100,000, this bill will enable credit unions to deliver more impactful financial solutions—particularly for small businesses and entrepreneurs who rely on accessible, affordable capital. We strongly support this legislation and urge its swift passage, as it will foster economic growth and strengthen communities across New Jersey and Pennsylvania.”