So far our latest LinkedIn poll has got a few readers buzzing.
Credit Union Times recently posted a poll asking: Which is worse for your credit union: Regulatory burden or loss of tax exempt status?
The completely unscientific poll, which is ongoing, finds tax exemption slightly edging out regulatory burdens as a concern 52% compared to 47%.
One commenter, David H. Kudrin, account manager at CMG Mortgage Insurance, likened the assessments associated with the stabilization of the corporate system to a tax.
“As a result the industry has already had a taste of taxation without enjoying any potential benefits/tradeoffs that could come with it,” said Kudrin. “I will see taxation in my lifetime, the question that remains is, will all the efforts be focused on just fighting it and then when it happens it will not be on our terms. Or if and when it happens will we get access to more products, investment options, member business lending with no cap etc.”
Weigh in on the poll. Join the Credit Union Times LinkedIn group and get in on the discussions.