This article will be among the news and features filling the pages of the next print edition of Credit Union Times.
Credit unions are on alert about the fate of their tax-exempt status as a result of President Obama’s speech outlining his deficit reduction strategy.
President Obama's new deficit-reduction package could include killing the credit union tax exemption.
As the nation's budget deficit continues to grow, the government may be looking for new sources of revenue. Therefore, formerly sacred cows such as credit unions' tax-exempt status may go the way of VCRs and rotary phones.