The Utah League of Credit Unions is running this 60-second radio spot 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.
ANNCR: Banks don't like credit unions, because they don't like competition. So they want you to believe that Credit Unions are tax-exempt and don't pay their fair share of taxes. The truth is, as non-profit, member-owned cooperatives, credit unions pay all the same state taxes banks pay, except for one. Now, House Speaker Marty Stephens, and also a banker, has announced a bill that may dramatically raise taxes on credit unions. Such an increase could force credit unions to change the way they do business. Raising fees. Sacrificing services like free checking and ATMS... Or increasing low credit card and loan rates. In other words, to treat your family more like they're treated at a bank, and eliminate competition. That hurts you. That hurts all Utah families. So, contact Speaker Marty Stephens at 538-1029 or at utah.gov and tell him that another tax on your credit union is just another tax on you.