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BANK ATTACKS: Credit Unions Fight Back!
The banking trade associations in Washington, and their affiliates throughout the states, have undertaken a centrally organized attack on credit unions, calling on both the federal government and many state governments to raise taxes on credit unions. This bank program--called Operation Credit Union --is designed to gain commitments from all bankers to be actively involved in long term grassroots action in support of credit union taxation.
For years, credit unions have gained the respect of Congress as a grassroots powerhouse. We successfully--and by wide margins--fought back when the bankers sought to destroy credit unions by limiting who could join. Congress voted with the credit unions to pass The Credit Union Membership Access Act in 1998 over the objections of the bankers.
Now, similar to those initiatives, we must fight back again. The bankers are out to eliminate credit unions from the financial services industry and to add new taxes to 85 million Americans.
Copyright © 2004 - Credit Union National Association, Inc.
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