BEAVERTON, Ore.-Congressman David Wu (D-Ore.) was the most recent addition to the Credit Union Association of Oregon's list of lawmakers supporting the credit union tax exemption. Wu recently wrote the league to express his firm belief that credit unions should remain tax-exempt. "I strongly support this exemption because I feel that credit unions are unique in that they exist to serve the financial needs of their members rather than focusing on maximizing profits," his letter read. "Taxation would severely undermine this service character of credit unions. "As we face today's economic challenges of a growing federal deficit, downsizing, and even outsourcing, credit unions remind us that we can work together for the common good to create healthy, sustainable communities." According to CUAO Director of Communications Amy Drew, the league has garnered both written and oral support from all five of its members of the House of Representatives and both senators.
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:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 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.