DOVER, Del.–A public deposits bill in Delaware that has strong backing from credit unions has unanimously passed the state’s Senate.
According to the Cooperative Credit Union Association and Delaware Credit Unions, less than a week after its hearing, SB247, which relates to public deposits into credit unions, the bill was brought before the Senate for a vote. Sen. Spiros Mantzavinos, chair of the Senate Banking Committee and the legislative sponsor of Public Deposits, delivered remarks on the floor supporting SB247, which was then passed unanimously in the Senate, 21-0.
Although it was not scheduled for further debate, the CCUA said it invited to testify before the Senate during the session. It said that followed its successful testimony on March 18th, when the Senate Committee voted to move the legislation that same day.
The bill will now be presented to the House for a hearing and vote.
