LSCU Advocacy: Alabama Legislative Update

Even though the Alabama Legislature is only three weeks into the 2021 Regular Session, two LSCU priority bills have already made it to Governor Kay Ivey’s desk while a third is awaiting the final step.

COVID-19 Legal Liability Protections for Businesses and Other Entities is Senate Bill 30 this year and was signed by Governor Ivey on Friday, February 12th. Most states have a form of this bill that helps to shield certain businesses from liability claims for possible injuries caused by exposure to COVID-19, as long as the business or entity was in compliance with protocols recommended for safety.

Senate Bill 181, the Elderly and Vulnerable Adult Financial Protection Act of 2021 unanimously passed the full House (98-0) on Thursday, February 25th. It now goes to Governor Ivey, and she is expected to sign the bill. This protection is important LSCU and credit union members in that it protects elderly members from being the victim of financial scams.

House Bill 140, the Financial Institution Excise Tax Reform bill (FIET) awaits final passage in the Senate. The Alabama Department of Revenue is still highly supportive of the bill, and LSCU Advocacy team expects the vote will move quickly once it’s scheduled.

Take a moment to learn more about why you should be active in LSCU Advocacy efforts and how with President and CEO Steve Swofford with Alabama Credit Union.

Written by
Ann Naiman
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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.

LSCU Mission Statement

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

LSCU Vision Statement

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

If you need to reach us, e-mail communications@lscu.coop

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