Congress: Expand CU Business Lending Now: Editor's Column

I discovered that Credit Union Times' coverage of Telesis Credit Union's conservatorship and the actions leading up to it were being used against credit unions' efforts to expand the member business lending cap from 12.25% of assets to 27.5%. Specifically, the ICBA sent an email (obtained by CU Times ) to Sen. Mark Udall highlighting articles we had written about the conservatorship of Telesis and the former CEO's compensation. As a journalist, my instinctual response to this discovery was, 'The news is the news.' Credit Union Times is respected for balanced coverage of the credit union community--good, bad and ugly. And even when it's not easy, deep down the industry expects nothing less. That responsibility is something we take very seriously. Unfortunately, negative coverage of credit unions can bring ammunition to those who would wipe them off the face of the earth. After a moment's reflection, the second feeling I had was pride in the power of an independent press. What Credit Union Times does matters to a lot of very powerful people in credit unions, in banks, in Congress, and even in the White House. The thought is both awe-inspiring and humbling.