League and NCBA add their voices to immigration reform debate
Wednesday, May 21, 2014
With immigration reform stalled in the U.S. House of Representatives, CCUL President/CEO John Radebaugh and NC Bankers Association President/CEO Thad Woodard encouraged Congress to pass comprehensive immigration reform in a letter sent last week to members of the North Carolina delegation.
“We appreciate the complex and controversial nature of the issue, but believe the economic impact is too great to our local communities, our state, and our country for Congress not to take action,” wrote Radebaugh and Woodard. “Comprehensive immigration reform would provide stability and clarity, not only for immigrant families, but also for business owners and government officials as we plan and work toward our individual and collective futures.”
Earlier this year, the NC Bankers Association commissioned a study on the demographic and economic impact of immigrants in North Carolina. Produced by the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill, the study is titled “Demographic and Economic Impacts of International Migration to North Carolina.”
The letter noted that in 2010 in North Carolina immigrant purchasing power was nearly $20 billion and that consumer spending by immigrants resulted in nearly 171,000 spin-off jobs. “We didn’t offer specific solutions in our letter,” shared Radebaugh. “We’ll leave that to Congress. Our purpose was to remind our members of Congress just how important immigration reform is to economic growth and the many immigrants that credit unions serve.”