Banks On The Attack-In 1949!
During the chairman's report to the membership at CUNA's Annual General Meeting, Dick Ensweiler read from yet another bank-sponsored ad attacking credit unions for trying to go beyond their mission. The ad was put together by a group calling itself the National Tax Equality Association, but Ensweiler said it was a front for bank attacks. What made this ad of note in a sea of such efforts by banks? It was published in 1949. "The banks have been at this for 55 years," Ensweiler pointed out. "They have made a pastime out of challenging credit unions' tax status."