[Congressional Record Volume 144, Number 111 (Friday, August 7, 1998)]
[Extensions of Remarks]
[Page E1625]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           SIGNING OF THE CREDIT UNION MEMBERSHIP ACCESS ACT

                                 ______
                                 

                       HON. GEORGE E. BROWN, JR.

                             of california

                    in the house of representatives

                        Thursday, August 6, 1998

  Mr. BROWN of California. Mr. Speaker, President Clinton is scheduled 
to sign H.R. 1151, the Credit Union Membership Access Act, into law 
tomorrow, August 7, 1998, at 10:15 a.m., in a private ceremony in the 
White House Oval Office. As an original cosponsor of H.R. 1151, I rise 
today to praise Congress, the Clinton Administration and the credit 
union community for working together in a bipartisan manner to enact 
this important legislation.
  With the enactment of H.R. 1151, the 1934 Federal Credit Union Act 
will be amended to preserve the ability of all Americans to join the 
credit union of their choice, and to ensure that the 73 million 
Americans who are currently members of credit unions in no way have 
their membership status jeopardized. Today, we celebrate a true victory 
for working, middle class Americans who need affordable financial 
services. Credit unions represent democracy in the work force. This 
bill improves consumer choice and allows for greater competition in the 
financial services sector. Now, working people and consumers will 
continue to have access to the affordable financial services that 
credit unions have always offered.
  Mr. Speaker, on this historic occasion, I would like to recognize the 
California Credit Union League and Arrowhead Credit Union of San 
Bernardino for the vital role they have played in the national 
advancement of H.R. 1151. Without their extraordinary grassroots 
efforts, a swift congressional approval of H.R. 1151 would not have 
been possible. They have every reason to celebrate this victory, and I 
praise them for their continued efforts to reach out to the underserved 
and to expand their contributions to the economy.
  As a long-time supporter of credit unions in the United States, I am 
honored to be an original cosponsor of H.R. 1151 and to have been able 
to join the credit union community in efforts to enact a bill that will 
preserve the rights of millions of Americans to join and continue their 
access to credit unions.

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