These days it seems like banks will stop at nothing to take down credit unions, even creating problems where none exist. In recent years, megabanks have gobbled up tons of community banks, leaving many people with one fewer financial option that has local interests at heart.
As small banks continue to suffer, some are joining credit unions instead of behemoth banks. And boy are the banks not happy. They want every crumb of the pie and since they’re not getting it, they’ve instead turned to bashing credit unions and manipulating the intent of our tax status.
Murray Williams, President and CEO of the Iowa Credit Union League, and Patrick La Pine, President and CEO of the League of Southeastern Credit Unions, recently wrote great opinion pieces to refute these attacks. I encourage everyone to read them and know that CUNA and Leagues are fighting to set the record straight. And if you want to read more, check out a recent USA Today article that highlights how credit unions serve people that banks routinely turn away.
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