Consumers probably do not perform searches for both "credit unions" and "taxes" often on Google.com, but if they do, the Massachusetts Bankers Association wants them to get a banker's perspective on the topic.
The trade group has created a Web site, creditunionruse.com, where it argues that large credit unions that act like banks should be taxed like them.
Since the site launched last week, it is already turning up on the first page of results for search engines such as Google, Yahoo, and Microsoft Corp.'s MSN.
"For months, when we typed in 'credit unions' and 'taxes,' we would get five pages of results from the credit union perspective with only two or three opinions attributed to banks," said Bruce Spitzer, the trade group's spokesman. "So this is already working."
The group also is asking member banks and thrifts to put a creditunionruse.com link on their own Web sites.
The site makes its point through a series of cartoons, such as one of a man who represents large credit unions pickpocketing another who represents taxpayers.
Daniel J. Forte, the trade group's president and chief executive officer, said his members "want to get our point of view across" to policymakers, reporters, and especially consumers, many of whom may not realize that credit unions are tax-exempt.
Eric Richard, executive vice president and general counsel at the Credit Union National Association, said he doubts the Web site will have any impact.
"My first reaction was we should start a Web site called stupidbankertricks.org," Mr. Richard said.
Consumers using the Web to search for information about credit unions are not likely to be directed to the Massachusetts Bankers' site, and even if they are, it is unlikely they would be influenced by it, he said.
"I think consumers are driven by where they get the best deal," Mr. Richard said. "If consumers think they're treated better or get better rates at credit unions, they're going to go, regardless of any silly Web site."
Mr. Forte said that the site presents an argument that his group might have put in a pamphlet or white paper years ago, and that it uses satire to make the information more enjoyable for readers.
"It's a serious issue, but we wanted to do it in a fun way," Mr. Forte said.
Bankers needed to get their perspective on the Web because searches would serve up mostly sites created by credit unions and their trade groups, he said. "You'll get a lot of positively spun stories about credit unions and why they deserve the tax break," he said.
The Massachusetts group is targeting only the largest 10% of credit unions, which grew beyond the original intent of serving members who have a common bond, such as a workplace, Mr. Forte said.
"Most credit unions are doing what they were designed to do," he said. "They're focused on a strict common bond," but those that serve several counties or even entire states - and are aggressively marketing to prospective customers - have an unfair tax advantage over the banks that compete against them.
Greylock Federal Credit Union in Pittsfield, Mass., which has more than $800 million of assets, is one the credit unions profiled on the Web site. It started in 1935 to serve General Electric employees, but after downsizing hit the company in the 1990s, the credit union expanded to include anyone who lives or works in Berkshire County.
"Greylock has been running an advertising campaign that says, 'Do you have a pulse? If you do, you can become a member,' " Mr. Forte said.
"Bankers are really tired of the continued growth of the large credit unions and the competitive impact that has," he said. "Credit unions continue to spend money on marketing, and they are basically funding their growth with what should be tax dollars."
Mr. Richard said credit unions of all sizes are not-for-profit, run in the best interest of their members, and have volunteer boards - all of which makes them different from banks.
"Banks are for-profit institutions, and that's why they're taxed," he said.
Though the site argues that savings banks are much like credit unions, Mr. Richard disagreed.
"A good example of the difference is in most mutual thrifts, when you open an account, you sign a running proxy, which basically gives management the authority to run the institution as they see fit. By and large, credit unions do not use proxies at all," he said. "There is direct voting by members, and I think what that illustrates is most savings banks tend to be run in the interest of management. Credit unions are run in the interest of members. There's more direct democracy."
