[Congressional Record Volume 144, Number 46 (Thursday, April 23, 1998)]
[Extensions of Remarks]
[Page E646]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   CREDIT UNION MEMBERSHIP ACCESS ACT

                                 ______
                                 

                               speech of

                          HON. JAMES T. WALSH

                              of new york

                    in the house of representatives

                        Wednesday, April 1, 1998

  Mr. WALSH. Mr. Speaker, I rise today in strong support of H.R. 1151, 
the Credit Union Membership Access Act. I am proud to have been an 
original cosponsor of this important legislation.
  My vote is a continuation of longstanding personal backing for credit 
unions in general. I believe they provide an invaluable service to 
working men and women--a service which is both convenient and 
comfortable.
  Credit unions are familiar places which in many cases don't offer a 
full range of banking services but nevertheless do provide basic 
financial assistance--whether it be pocket money or a small unsecured 
loan.
  After the U.S. Court of Appeals for the District of Columbia 
overturned a credit union decision in July of 1996, many of us in 
Congress realized the need for legislation to protect credit union 
members. Today's vote is the culmination of our efforts.
  By passing this legislation, we allow Americans to choose the 
institution in which they put their money. By promoting continued 
operation of credit unions in a sound and reasonable manner, we spur 
competition and encourage savings. By supporting credit unions in this 
manner, we demonstrate our faith in the wisdom of working people.
  On behalf of my constituents in central New York who will benefit 
from this consumer protection law, I want to thank the House for 
today's passage.

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