Could be Lots of Reasons For Increased Banker Attacks

WEST PALM BEACH, Fla. – Credit Union Times’ just expired online voting poll finds that credit union people think there could be lots of reasons for increased banker attacks. The poll focused on why bankers have become so offensive minded against CUs recently, especially on the taxation issue. Voters seemed to be split over a number of possible reasons, but the most popular choice was that bankers think credit unions’ expanded powers make them a more competitive threat, followed closely by bankers being concerned about growing number of large credit unions. A few critics of the poll question, said one of the answer options should have been something to the effect of “bankers just being bankers.” The second answer option, “banking groups like to use CUs as a lightning rod issue to unite members” was offered with the “bankers just being bankers” concept in mind. That option garnered 17.14% of the vote. The question and results are as follows: What’s behind the intensified attacks against credit unions coming from banking groups? * Timing, given that a favorable CU bill, CURIA, has been introduced, 12.44% * Banking groups like to use CUs as a lightning rod issues to unite members 17.14% * Credit unions’ expanded powers makes them a more competitive threat 28.64% * Bankers concerned about growing number of large asset CUs 28.4% * With flourishing CU assets, they believe timing is right to argue to Congress that CUs were created to serve people of modest means 13.38%.