Dade County FCU, based in Miami, CEO George Joseph wrote an excellent op-ed on the tax fight for credit unions. As credit unions head to Washington, D.C. for Hike the Hill this week, Joseph set the table as to what is at stake for credit union members. His article, "Credit unions fight back against tax repeal efforts," makes the case as to why credit unions are tax exempt and what the tax exemption means, "for every dollar in new taxes the government might gain, it would be eliminating $10 of credit union member benefits."
Joseph also writes specifically to the intent of bankers by pointing out that: "They offer loans at the highest possible interest rate because their mandate is to make money, not to assist anyone, including and especially the middle class. (It wasn’t long ago we learned this the hard way as predatory banks helped fuel the Great Recession.)" The op-ed really shows consumers the difference between credit unions and banks and why the tax exemption is vital for 96 million Americans.