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Last Friday, January 23, your League's President John Murphy and Jon Courtney, who is part of your League's 2015 Legislative Team, met in Bangor with Congressman Bruce Poliquin in the first meeting with him since he was elected, and sworn into office earlier this month. According to your League, a wide range of issues were discussed and the meeting was described as "very productive."
Your League's President John Murphy said the meeting provided "an opportunity to cover many topics including the differences between credit unions, as not-for-profit, financial cooperatives, and other financial institutions. We also highlighted the important role of credit unions in Maine, especially the fact that credit unions continued to lend money while many other financial institutions did not after the financial services meltdown in 2008 and in the years since.
Congressman Poliquin, who was named to the House Financial Services Committee, a key committee to credit union and financial services-related issues, said he looks forward to "attending credit union-related events and activities and listening to the issues in the coming months."
"We shared our concerns, especially with regulatory burden, and discussed the credit union tax exemption at length, and I believe that Congressman Poliquin has a much better understanding on some of the major differences between the credit union structure and other financial institutions. It was a good initial meeting with Maine's newest member of Congress," added Murphy.