Pub. 8 2019 Issue 6

November/December 2019 9 l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s be discussed in more detail. We will give this subject several days of hearings, not just an hour and we’re done,” said Olson. “We’ll exhaust it even if it takes two weeks.” What we have named the Equal Credit Opportunity for Kansans bill (S.B. 238) is intended to help create equal opportunity for credit to all farmers, ranchers and business owners in Kansas. With the ag economy still struggling and the fact that we keep losing community banks and access to credit across the state, we believe something needs to be done to sustain and revitalize Kansas economies, benefit all ag and rural borrowers with competitive interest rates and maintain access to local credit across the state. It is our intent to include new language with the current bill that will address rural housing by exempting from taxation interest earned from those buying homes in rural areas (2,500 residents or less). We believe S.B. 238 or a version of it will help accomplish these goals. With the focus on fairness to bank and savings and loan business customers and the communities they work in, the Farm Credit System (FCS) and credit unions are not affected. Legislation moving forward will be aimed at leveling the playing field among lenders to benefit borrowers of all business credit, whether it be for ag or commercial purposes, which will ultimately lead to lower interest rates for Kansas customers and provide Kansans with greater access to credit and a variety of credit services to finance their operations. This effort will only be successful if we have every bank employee engaged on this issue. Legislators need to hear how every time a bank loses a loan to a credit union or to Farm Credit, the loss has an impact on the community and other customers doing business with their community bank. They need to understand that the current tax policy punishes every customer that chooses to do business with their local community bank, because if given the same favored tax status, community banks could offer lower interest rates. Legislators need to understand that when they talk about rural revitalization, this is a huge part of that discussion as it will help keep banks located in all parts of this great state. We hope we can count on you to reach out to your legislators on this very critical initiative. With input from all of our bankers, we will be able to show that we are in almost every community across this state and we need a change in tax policy to make the banking industry in Kansas even stronger! If you have any questions or want to know how you can help, please do not hesitate to contact Kathy or Alex at ktaylor@ksbankers.com or aorel@ksbankers.com , or call us at the KBA office at (785) 232-3444. THE POWER OF PARTNERSHIP WORKING TOGETHER FOR YOUR HOMEBUYING CUSTOMERS For nearly 19 years, Mortgage Investment Services Corporation (MISC) has been a strong partner with Kansas community banks. MISC’s only purpose is to assist community banks to make home loans for their customers. We combine our high-tech features with your face-to-face customer service. Your bank and your customers benefit from this working partnership. • No cost to sign up. No risk to give us a try. • No software or hardware investment by your bank • Free training and ongoing support for your loan officers • Wide range of fixed rate loan products • Free marketing support to attract new families to become bank customers • MISC serves 240 Community Banks in OK, KS, MO & CO • Fannie Mae Approved Seller/Servicer. Call Andrew Holtgraves today to unlock the Power of Partnership! Andrew: (913) 390-1010 ext. 1019 Andrew@MISCHomeLoans.com