A provisional bill currently in the Ohio legislature, if unchanged, could jeopardize the future of the First Miami Credit Union.

In an effort to save the credit union, students from Miami University, including members from Associated Student Government (ASG), College Democrats, College Republicans and First Miami student-employees will travel to Columbus Tuesday, April 21.

The bill's stated objective is to "prohibit campus credit card marketing activities and to prohibit institutions of higher education from releasing student directory information to any person or group for use in a profit-making plan or activity."

In Columbus, students will speak with the sponsors of House Bill 12 (HB 12) and offer an amendment that would exempt First Miami Credit Union from the bill.

Sophomore Spencer Dieken, finance major, is a member of the management team for First Miami. He said the bill has good intentions, but an exemption needs to be made for college-run financial institutions.

"The bill's main aim is to keep college kids out of debt and to keep your average bank from setting up a kiosk and handing out T-shirts along with credit cards," Dieken said. "It's shooting to keep students out of debt and that's what we're shooting for too."

Dieken said First Miami is one of only two student-run credit unions in the nation.

The only other existing credit union is at Georgetown University.

According to Dieken, First Miami's motto, "Students helping students," has proven successful as the credit union currently boasts nearly 1,600 customers and an asset base averaging roughly $1 million.

Junior Adam Harris, economics major and vice president-elect of ASG, said the situation surrounding First Miami is unique and was overlooked during the drafting of HB 12.

"The problem is, legislators are trying to curb the entire industry," Harris said. "But they didn't take into account the situation here at Miami. This new amendment would allow the student-run credit unions to still exist."

State Rep. Matt Lundy (D-Elyria) is a sponsor of HB 12. He said the bill is concerned with protecting students from predatory lending practices, not eliminating college credit unions.

"We are going to get the language clarified," Lundy said. "We're going to make a further amendment so that (First Miami) is not impacted in any way. It was never our intention to harm on-campus credit unions."

Sophomore Eric Niederhelman, finance major, is a member of the management team at First Miami. He said the employees were shocked when they found out about the bill.

"As soon as we heard about it, we started talking about what we needed to do to make the Ohio legislature aware of our situation and get an amendment put in," Niederhelman said. "We see ourselves as part of the solution to the credit problem in America, unlike most banks, we're non-profit and so we try to educate our members so they can avoid problems like the ones Bill 12 is addressing."

Lundy said First Miami would be taken into account before the bill moves out of the House and into the Senate.

"We will be clearing up the language before we vote the bill out of the house," Lundy said.