fatally You may not be aware, but the Big Banking Lobby is constantly attacking not-for-profit credit unions. And when they attack they use the American Bankers Association which I am writing about in my book. The ABA has been buying up Washington politicians for over a hundred years to make decisions not in the best interest of American families!
So please support your local credit union and move all your money from the bank. Refinance your auto and credit card loans too. You can reduce the interest rates and save money–while helping your local community! It is time to take back our country from big banks…and from big government…and moving your money helps with both!
The following is an article from a the Credit Union National Association which helps strengthen the credit union movement:
“Banking industry attacks are the major threat confronting CUNA (Credit Union National Association), state leagues and the credit union movement. In 2003 the banking lobby was quick to exploit state budget deficits and will continue to do so this year both at the state and federal level. This is a carefully coordinated anti-credit union campaign. Taking a page from the CUNA playbook, the bankers’ lobbying strategy now features a stronger grassroots component and coordinated actions by its state trade associations. Consider these developments:
• To date 11 states are on “high alert” status expecting more attempts to the bankers to propose new taxes on credit union members, limits on growth or other restrictions.
• The American Bankers Association this year launched “Operation Credit Union,” sending anti-credit union “tool kits” to every FDIC-insured bank with instructions to urge their state and federal legislators to tax credit unions.
• After Rep. Bill Thomas (R-CA), chairman of the powerful House Ways and Means Committee, publicly expressed interest in exploring whether credit unions’ tax status is still justified, 51 state banking trade association CEOs quickly followed up with letters urging him to hold a hearing.
• The America’s Community Bankers trade group also urged its S&L and savings bank members to write similar letters to Thomas calling for taxation of credit unions.
• The ABA is conducting focus groups with consumers and state legislators to hone its anti-credit union message. Most potent with legislators: If a credit union acts like a bank, it should be taxed like a bank.
• The ABA has established a Credit Union Coordinating Committee with a “five-pronged” strategy: provide assistance to states; generate banker involvement; develop a communications/education strategy; monitor the National Credit Union Administration; pass legislation to “level the playing field” and derail any pro-CU legislation.
• The ABA has ranked taxing credit unions as its number-one priority— even ahead of combating terrorism!
The banking lobby continues to employ a “divide and conquer” strategy that seeks to split the credit union movement by size, charter type or however it can. The banks cannot be allowed to prevail. And they won’t if credit unions put up a strong, united front that leverages our strengths and advantages…”
Credit Unions are doing what they can and they are growing every year, but they need the support from all 96 million credit union members to help educate their friends and family to help them FIRE THIER BANKER TOO!
Thanks for your help : )
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