Big Banks Start Campaign to Destroy Credit Unions

“As of March of this year, credit union membership has increased to more than 95 million members and they hold 6 percent of the financial assets of United States to the tune of $1 trillion dollars. Now the major banks want to destroy them. This month the American Bankers Association started a huge lobbying effort to end the tax break credit unions receive as non-profit organizations – a tax break that allows them to run as a non-profit and offer their members services at a much lower rate. There is a big budget battle looming and the estimated $2 billion in annual revenue that is estimated from eliminating the tax exemption has already been floated.”

http://www.donttaxmycreditunion.org/big-banks-start-campaign-to-destroy-credit-unions/