PORTLAND, Maine — Local financial institutions grew last year as the backlash to big banks continued, according to finance experts.
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As a result, Maine’s 61 credit unions reached several milestones in 2012, breaking records for membership and assets.
As the Illinois General Assembly continues to grapple with the state’s budget deficit, a statewide “big bank” trade association has undertaken a media campaign to pursue taxation of Illinois’s credit unions. This is a bad idea for several reasons. The state’s credit unions, which by law are exempt from income taxes, have emerged as a …
Highland News Leader – Credit union tax can’t save Illinois Read More »
WASHINGTON (5/8/13)–“Credit unions’ tax exempt status is not going away, not on my watch,” Senate Finance Committee Chairman Max Baucus (D-Mont.) said in a recent message to Montana credit unions. “Over the years, folks in D.C. have tried to cut your tax exempt status, and I’ve gone to the mat to fight back,” he added. …
Sen. Finance Chair Backs CU Tax Status In MCUN Remarks Read More »
The credit union tax status is one of many issues discussed in the just-released report on tax policy reform created by 11 House Ways and Mean working groups and delivered to the Joint Committee on Taxation.
