Utah An Example Other States Should Be Citing
The various state credit union leagues fighting off banker-inspired tax initiatives should all pay close attention
For years, the state-chartered credit unions in Utah threatened to convert to federal charters if the bankers kept up their assaults on
So, when the attacks by the Utah bankers reached new levels this year, the three large credit unions targeted by the banks,
Now those threats may be appreciated in a different light.
The speed in which the three Utah credit unions fled the state system, taking with them millions of dollars in revenues (state sales
Let this be a lesson to all of those parties who sought to make it so difficult for those credit unions to do business and grow to their
Lawmakers and the banking lobbies in all the other states where the credit union tax threat has emerged, including Iowa, New
Even though it's a shame the Utah credit unions had to finally leave the state system to gain peace, the example should be a
Look for more of this to happen over the next few years as the pendulum swings back to once again favor the federal charter.
By the way, such charter shopping is not unique to credit unions and has been done by banks, insurance companies and other