Miami University students are working to fight a provisional bill in the Ohio legislature that would put First Miami Student Credit Union at risk. House Bill 12 (HB 12) was drafted to "prohibit campus credit card marketing activities." It would also prohibit institutions of higher education from releasing student directory information for use in a profit-making activity.
The bill is designed to help keep students out of debt and away from predatory credit card companies trying to take advantage of ill-informed college students.
First Miami not only provides great experience for Miami students wanting to work in banking and finance after graduation, but they also work hard to educate students on the various aspects of banking. They are a solution to the problem HB 12 is trying to address.
The only other student-run credit union in the nation is at Georgetown University, and members of Miami's non-profit credit union are not allowing their important role to be put at risk because of this bill. Members of Associated Student Government, College Republicans, College Democrats and First Miami student-employees are traveling to Columbus Tuesday to propose an amendment that would exempt them from the bill.
The editorial board of The Miami Student believes this group of students is going about accomplishing their goal of exempting the credit union in all the right ways, This bipartisan group is approaching the legislature with a written amendment. They are not just writing letters, protesting or complaining about the problem. They identified the situation and developed an appropriate course of action to solve the problem. They are a great representation of student activism protecting other students.
State Rep. Matt Lundy (D-Elyria) said the bill is not intended to harm student-run credit unions. This board encourages the legislators to listen to these students and follow through on their pledge to amend the bill so First Miami is able to continue educating students.
The bill should allow the legislature to deal with predatory credit card companies, while allowing the student credit union to continue operating and enabling students to help other students make responsible fiscal decisions.
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