Credit Unions Need Our Help

[2moryrs]

Since I am a fan of Credit Unions thought I would post here the threat of possible taxation of credit unions. Don't know the whole scope yet, but would like to hear what others think of this possibility.

Thought this forum would appreciate this information as we like to build and protect our "financial futures."

2moryrs(not)

 

[nnuut]

The BIG BANK concept in action.

Legislature considers taxing credit unions



Jun. 29, 2013

To tax or not to tax? That’s the question facing the Oregon Legislature regarding the state’s 71 credit unions.As the session winds down, credit unions and commercial banks alike are eying House Bill 2486, which could impose a corporate excise tax on some of state-chartered credit unions. The bill is currently in the House Revenue Committee.
Banks argue that credit unions’ exception to the tax puts them at an unfair advantage. Credit unions counter that the exemption allows them to serve their initial purpose and pass savings and service onto their customers.
Both sides have laid out their cases below:
http://www.statesmanjournal.com/art...12/Legislature-considers-taxing-credit-unions

 

[RealMoneyIssues]

Figures, its not like the big banks haven't already drained the nation (and the treasury), now they have to go after the last bastion of sanity in banking... credit unions...

 

[nnuut]

Figures, its not like the big banks haven't already drained the nation (and the treasury), now they have to go after the last bastion of sanity in banking... credit unions...

Well said, but you know it's all part of the Transformation.

 

[RealMoneyIssues]

Well said, but you know it's all part of the Transformation.

I know, but that doesn't make it any less frustrating...

 

[SkyPilot]

This takes us back to the storyline of the movie, "It's a Wonderful Life" where George Bailey's Building and Loan was under constant pressure by Mr. Potter's bank.