X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

JACKSON, Miss. – Banking’s grassroots push to raise CURIA complaints in local business publications came to Mississippi this month with a feature article appearing in the Mississippi Business Journal headlined “Credit Unions-Banks Battle Continues on Capitol Hill.” For weeks the Mississippi Credit Union Association has been bracing for the CURIA attack and “based on some questions I got from a reporter which sounded like standard banker rhetoric,” the trade group expected a harshly negative, said Charles Elliott, president and CEO. However, the Aug. 7 news story. said Elliott, did contain positive CU views on CURIA though it still had swipes from an American Bankers Association spokesman charging CURIA proponents represent the “new breed” CU undermining financial competition. The article did include a defense of the tax exemption and an explanation of the CU nonprofit structure with passages also contrasting banking’s asset and loan dominance in Mississippi over CUs. The article noted that banks hold 99% of business loans in the state with CUs at .004% and banks retain $42.1 billion in assets against CUs’ $2.6 billion Another section highlighted the role of CUs in serving middle income mentioning Keesler FCU of Biloxi, the state’s largest. It said the average deposit for 56% of Keesler members is about $100 and many of these members “would not qualify to open a bank account” so they turn to a CU, said the article.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.