Print
This week, the League was on-hand to testify against yet another proposal to start a State Bank. This proposal was for a State Bank that would hold 100% reserves, as well as issue gold and silver coinage and cryptocurrency redeemable for fixed amounts of gold. The League testified in opposition, focusing on how Mainers are well-served by the current financial institutions in Maine. We’re proud of how credit unions continue to demonstrate their cooperative principles like autonomy and independence while serving their communities and providing lower fees and better interest rates. Proposals like the State Bank, which we also testified against in 2019 and 2017, show how important our state level advocacy efforts are.
That is why we once again are soliciting donations to support our silent auction for the State Credit Union Legislative Action Council (CULAC). The auction will take place in-person at the League’s Convention later this month (May 19 and 20), and we are already excited about the items that have been donated so far. Don’t forget to place your bids when you are at Convention!
If you have not yet donated, please consider donating an item worth $50 or more. You can use this form to submit your items to the auction online or contact Krista Simonis, Director of Governmental Affairs. If you’d prefer to make a monetary donation, you can do so using the state donation button on the League website. These funds go directly toward supporting pro-credit union candidates at the state level and continuing our people helping people movement.