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CFCCU Blog

The Bankers Are At It Again

Advocacy image bank taxBankers are at it again, trying to tax credit union competition out of the marketplace, which would eliminate the low cost financial services credit unions provide Iowans. While complaining about credit unions, the banks fail to mention they control more than 95% of the business loans in Iowa and 86% of the total deposits, have realized record profits the last six years in a row and have utilized state tax credits to avoid nearly 50% of their own state franchise tax liability. Apparently record profits and market dominance are not enough, they won’t be satisfied until credit unions are gone. Visit www.ProtectFinancialChoice.com to learn more.

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