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Credit Union Bill Voted Out of Senate Committee

HB 478, a bill modernizing the Missouri Credit Union Statute dealing with joint accounts, took another step forward this week. After credit union representatives made calls to Committee Chairman Jay Wasson (R-District 20) and Senate President Pro Tem Tom Dempsey (R-District 23) urging action, the bill was reported out of the Senate Financial Committee and placed on the Senate calendar during the late night hours on April 29.

“We greatly appreciate the efforts of credit union leaders who took time to contact these lawmakers and urged them to move this bill forward,” says Peggy Nalls, Missouri Credit Union Association (MCUA) Chief Advocacy Officer. “This is a big step forward for the credit union bill, but there is plenty of work still ahead.”

HB 478 must now be heard and voted on the Senate floor, with limited time in the session remaining. The Missouri General Assembly must end its session by 6 p.m. on May 17.

The State House of Representatives passed HB 478 on April 3. State Representative Paul Wieland (R-District 112) is the bill’s sponsor.

MCUA will provide updates as HB 478 continues through the legislative process.

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