Sample Letter on H.R. 2061, "Communities First" Legislation

Dear Representative :

I write in support of H.R. 2061, the “Communities First” legislation that Congressman Jim Ryun has introduced to provide community banks with deep regulatory relief and tax credits to qualified community banks.

My statewide trade association, PACB, has provided you and your office with a great deal of material and the rationale for H.R. 2061 and stands ready to answer your questions and discuss the legislation as you feel necessary.

It is important to me and my community bank that you consider co-sponsoring H.R. 2061. We are proud of the service we provide to our communities and proud of our history and roots. We need help from the Congress, however, to continue to survive and thrive in the 21st Century. We think there is great value in having community banks in the towns across Pennsylvania and America but government regulation and unfair competition from the large, untaxed credit unions is hurting our ability to provide service to our communities and customers.

H.R. 2061 provides meaningful regulatory relief. It also for the first time provides a positive answer to the divisive issue of unfair competition from the large credit unions who enjoy a 40 or 50 basis point advantage and subsidy in the financial markets due to their tax-exempt status. H.R. 2061 does not mitigate this advantage completely but helps and we believe sends a clear signal from Congress that there is value to having community banks in America. We hope you will join your colleagues in the Pennsylvania delegation, Congresswoman Hart, and Congressmen Holden and English in co-sponsoring the “Communities First” legislation.

Thanks so much for your consideration. Your office may contact Nathanael Bennett in Congressman Ryun’s office at 202-225-2601 and, again, PACB stands ready to assist you as needed.

Sincerely,

Cc: PACB