Ex-Bank Owner, Now Rep, Knows CU Value

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Otters have always made good credit union members. Just ask U.S. Rep. Butch Otter (R-ID) who related how his father was able to start a dairy and make it prosper because of the Maplegrove Grange CU.

The local bank turned Otter's father down when he asked for a loan to take his small farm and turn it into a dairy, "but the credit union took a chance on us. The reason was because they'd been there. Every board member at that credit union had at one time tried to start a dairy or farm. They recognized that if you had the energy and the will, you could succeed."

Otter would later count on loans from a credit union to help him go to college and to start a business. The one "blot" on his credit union member career: he once owned a bank.

Having said his mea culpas for that, Otter said he of all people is well aware of the difference between banks and credit unions.

"At every point where the course of my life changed, it was the difference between being in the business of making loans or being in the business of making dreams come true," he offered.

The Idaho Republican added his voice to the many lawmakers who expressed support for the CU tax exemption at GAC, adding, "We will stand with you, as you long as you stay true to your mission."

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