By Frank Fraboni, WLOS News
Credit Unions are asking members to contact their congressman after launching a campaign called “Don’t Tax My Credit Union.” The Not for Profit Institutions fear the government could pull their tax exempt status as part of a tax reform to grow government revenues.
Mountain Credit Union is now celebrating it’s 50th anniversary after opening its doors to serve federal government employees. It’s now a community chartered institution that’s feeling threatened by the federal government.
Credit Union members enjoy higher earnings rates and lower fees because they pay no state or federal taxes and are different from traditional banks. They have no share holders because they’re not for profit and are owned by members.
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