Matz Goes to Massachusetts to Discuss Taxation

BOSTON-NCUA Board Member Deborah Matz warned attendees of the Massachusetts Credit Union League’s Government Affairs Day Conference that state proposals to tax credit unions are spreading like an infectious disease. “The people-helping-people theme of this session is particularly timely with the movement to tax credit unions spreading from state to state. The philosophy of people helping people is the number one weapon in the credit union arsenal to fight tax proposals,” she said. Matz emphasized that the fight against taxation in the states was very serious, even in states where it is not yet being considered, because of the lack of revenue the states are experiencing. Matz cautioned, “Some of you may be thinking that you’re not involved in the tax debate because it is not an issue in Massachusetts, or because you’re a federal charter, or because you’re small. But it’s important to understand that no matter what state, what charter or what size – every credit union has a stake in the tax debate. Tax fever is contagious.” She said it could even spread to the federal charter. She told the Massachusetts credit union officials that they could prevent the onslaught by educating community leaders and state and federal lawmakers on local credit union activities.