Upon closer scrutiny, one has to wonder why credit unions say they don't like banks and banks say they want credit unions to be taxed. The Credit Union National Association sent out Operating Ratios and Spreads for 2004 to their members, and in looking at the statistics for Surplus Funds of Credit Unions, I noted that credit unions have excess funds of $215.8 billion of which $25,896,000,000 is deposited into commercial banks. This statistic does not surprise me because over 20 years ago, credit unions had a large interest in bank deposits. It begs the question, are we helping banks, are banks helping us, or are we just good friends doing business with each other? Robert R. Adams President/CEO Catholic Federal Credit Union Saginaw, Mich.

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