[Weekly Compilation of Presidential Documents Volume 34, Number 32 (Monday, August 10, 1998)]
[Pages 1566-1567]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on House Action on Credit Union Legislation

August 4, 1998

    I am pleased that the House has passed the ``Credit Union Membership 
Access Act'' to protect and strengthen credit unions for the 71 million 
Americans who own, use , and rely upon them. This bill resolves 
uncertainty about the future of credit unions created by a recent 
Supreme Court decision by protecting existing credit union members and 
making it easier for credit unions to expand where appropriate. It also 
helps put credit unions on sounder footing by making important reforms 
that could pay enormous dividends in more difficult times. This bill 
ensures that consumers continue to have a broad array of choices in 
financial services, and, when Congress sends me this bill, I will sign 
it.

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