The bankers efforts to push a credit union tax are doomed to fail, at least for this year, according to U.S. Treasury Secretary John Snow, above. Snow told GAC the Bush Administration has no interest in taxing credit unions. "I understand you are for service and not for profit. Which is the fundamental reason why this talk of taxation of your industry, and what you do, is something we oppose," Snow told the GAC to a rousing applause. The Treasury Secretary, who applauded credit unions' efforts at financial literacy, said he confident the U.S. economy is growing, even though critics worry about lackluster job growth.
During GAC, Neighborhood Reinvestment Corp. Executive Director Kenneth Wade (left) and NCUA and NRC board member Deborah Matz, recognized Dan Egan for the efforts of the New Hampshire CU League and the state's CUs to help low- and moderate-income to purchase their first homes.
NCUA Chairman Dennis Dollar, center, received the World Council of CUs' International Ambassador Award during a reception at the Canadian embassy. At left is WOCCU Chairman Bobby McVeigh, with WOCCU President Arthur Arnold at right.
