When credit union advocates battled three bills in the Oregon legislature, Advantis Credit Union put on its combat gear.
And thanks to individual credit unions and the Northwest Credit Union Association the measures were halted in committee. The proposals would have required credit unions to file more paperwork, put them under the Community Reinvestment Act, and added a corporate excise tax to state-chartered credit unions with more than 10% of assets or $250,000 in business loans.
The campaign to kill the legislation was waged in the media as well as in legislative hallways. In an interview in The Portland Business Journal, Advantis President/CEO Bob Corwin explained, "I have been involved with credit unions since 1977, and I can honestly say there has never been a time during that period that we have not had to defend ourselves from some kind of banking industry attack."
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