Bill to allow CU qualification for public depository on docket

Tomorrow, the Florida Senate Banking and Insurance Committee will hear SB 1170 by Sen. Travis Hutson (R-Palm Coast), which will allow credit unions to become qualified public depositories.This bill is an LSCU member-identified priority that would give credit unions an additional opportunity to serve their communities. But to move this piece of legislation through the […]

Tomorrow, the Florida Senate Banking and Insurance Committee will hear SB 1170 by Sen. Travis Hutson (R-Palm Coast), which will allow credit unions to become qualified public depositories.This bill is an LSCU member-identified priority that would give credit unions an additional opportunity to serve their communities. But to move this piece of legislation through the process, we need your help!

PleaseĀ TAKE ACTION to respond to this alert and email your lawmakers to let them know how your credit union wants the opportunity to compete for public deposits from local governments and entities in your community. We have drafted a sample email, but it is more impactful if you include stories about how your credit union has been unable to accept these deposits in the past. Additionally, please share this alert with your staff, your Board, and anyone else who may be interested in taking action on this issue, including public entities.

It is critical for us to have our grassroots network firing on all cylinders over the next few days and beyond, emailing members of the Florida legislature, and explaining why this bill is important to Florida taxpayers. We must allow credit unions, and not the Florida Bankers Association, to define the message on SB 1170.

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About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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To create an environment that enables credit unions to grow and succeed.

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To be the trusted advocate and preferred source of information for credit unions.

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