'A Lousy $400-Million Profit'

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The Utah League of Credit Unions is running this 60-second radio spot entitled "Sob Story" in response to a proposal to apply the state's franchise tax to large credit unions. The Summit Group, Salt Lake City, is the agency.

SFX: Bustling of a news reporter in the field.

REPORTER: We're here with Mrs. Pitt, a very distraught Utah Bank Manager. Mrs. Pitt, tell us, why are you so upset?

MRS. PITT: (sniffling and fighting back tears as though she has been crying for an elongated period) Stupid credit unions.

REPORTER: Are credit unions hurting you?

MRS. PITT: Yes. Yes, Very much.


MRS. PITT: (controlling her tears, but barely) Well, credit unions make it so I can only charge 40 bucks for a bounced check. They make it next to impossible to double-charge for an ATM withdrawal and jack up fees. And they're giving people free checking. FREE CHECKING! (bursts into huge sobs). Not to mention their silly low-rate car loans and they don't even charge to talk to tellers. Because of them, my bank only made a lousy $400 million profit last year.

MAN: Can't you see this woman has suffered enough?

ANNCR: Banks. They tell a good sob story. But their real story is: they want your credit union to act like a bank. Because with credit unions out of the picture, they'll have no competition.

Contact Speaker Marty Stephens at 538-1029 or utah.gov.

Ask him to remind banks to worry about their own service, and stop worrying about credit unions.

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