FORT WORTH, Texas – No doubt the "challenge of taxation" would certainly undermine the strength of the credit union movement but American Airlines Federal Credit Union would survive and provide value to its member-owners, according to John Tippets, its president/CEO. However, taxation would be felt "much more at the macro level since over time many impacted credit unions might convert to bank charters" causing a loss of dues income for state leagues, a reduction in lobbying strength "and ultimately the distinct regulatory structure and the NCUA and NCUSIF would be in jeopardy," "Most credit unions have fully adequate capital and in the short run many would try to maintain their value proposition of below market rate lending and above market level dividend returns," observed Tippets. "We would definitely be in that camp." But treating credit unions as for-profit entities over time "will change our collective roles in the economy and will change relationships with our member-owners," he said. "The AA Credit Union would be negatively impacted by these changing consumer perceptions of credit unions (a shared brand) and our declining relevance as players in the financial services industry."