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Committee advances bill to let credit unions hold public deposits
Summary
The Minerals, Business & Economic Development Committee voted unanimously to pass Senate File 143, which would allow Wyoming credit unions to accept public deposits on the same terms as banks and move the measure to general file.
The Minerals, Business & Economic Development Committee advanced Senate File 143 on a unanimous 8-0 vote, sending the bill to general file. The measure would add “credit unions” to the list of institutions eligible to accept public deposits in Wyoming, allowing local governments and other public entities to include credit unions when soliciting depositories.
Senator Teran Nethercott, Majority Floor Leader and sponsor, told the committee: “All it simply does is everywhere that our Wyoming banks are allowed to accept public deposits, we are adding the statement credit unions.” Nethercott also said credit unions are covered by safety and insurance programs similar to banks: “Credit unions have the same program through the National…
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