Stewart Thomas has banked at Sunstate Credit Union in Gainesville for 25 years.
“They’re community based. All the money deposited in the banks is used for loans inside the community,” said Thomas.
Banking sources say tax reform is their best chance in years to change the century-old tax status of their chief competitors. Credit unions are taking an equally aggressive stance, seeing tax reform as an opportunity to solidify support for their tax status.
Listen to South Carolina Federal Credit Union CEO Scott Woods speak about the Don’t Tax My Credit Union campaign on ABC News.
As the government shutdown continues, credit unions whose members are federal workers offering low-rate loans and other assistance. Here is just a sampling, but check out your credit union if you need money to tied you offer while your paycheck is delayed because of politics:
In 1934, the Federal Credit Union Act set the foundation for the organization of federal credit unions. A federal credit union was defined as a “cooperative association organized…for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes.”