Search
 

Virginia's Credit Union and Bank Associations in Letter Battle

LYNCHBURG, Va. - The Virginia Bankers Association is asking its members to write their members of Congress and encourage them to support House Ways & Means Committee Chairman William Thomas' request to review credit unions' tax exemption and to oppose H.B. 3579, The Credit Union Regulatory Improvements Act. An item...

By Staff Writer | Updated on July 13, 2004

LYNCHBURG, Va. – The Virginia Bankers Association is asking its members to write their members of Congress and encourage them to support House Ways & Means Committee Chairman William Thomas’ request to review credit unions’ tax exemption and to oppose H.B. 3579, The Credit Union Regulatory Improvements Act. An item on the Virginia Bankers Association’s Web site stated that, “The credit union industry is attempting to undermine a review of its tax exempt status by the House Ways & Means Committee. They have also had legislation introduced to provide them even more regulatory relief. Their actions must be stopped. However, they can only be stopped by all bankers.The challenge is before us. Will we fight aggressively or allow the credit unions to continue to abuse their authority and undermine the banking industry and free market? The proof is in the numbers.” The Virginia Credit Union League, in response, has urged credit unions in the state to write their congressional representative and educate them about the credit union difference. The League also encouraged CUs to provide members of Congress with their Project Differentiation Statement of Commitment to demonstrate how they serve their members.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.