Leaders and members from South Dakota credit unions and the Credit Union Association of the Dakotas convinced a county commission not to endorse a tax equity resolution that had been strongly supported by the Bankers Association of South Dakota.
"The (Brookings) County Commission decided it was not in their realm of responsibility to consider an item that had federal implications," said Jeff Olson, CUAD's vice president of advocacy and awareness. "Simply put, we made our case that any resolution that the committee would support was an endorsement of one business over another."
By passing the proposed resolution asking Congress to repeal the tax exemption for credit unions, they in essence would be taxing 251,000 credit union members in South Dakota, he added.
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