X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BATON ROUGE, La. – According to some community bankers in Louisiana, the squeeze is on from credit unions as both compete for the same business lending niche. The concern, which has been repeated before, is not really about competition but a “level playing field,” said Ed Middleton, president of Citizens Bank & Trust, interviewed in an April 25 article in the Greater Baton Rouge Business Report. “If I were in charge of a credit union, I’d be out there taking advantage of it,” said Don Ayers, president/CEO, American Gateway Bank. “I don’t fault them for that. I fault the government for allowing it.” The article said “credit union heads argue member business loans are a part of the standard services they offer and, at least in Louisiana, they are not involved with what the large commercial loans banks are worried about losing.” La Capitol Federal Credit Union President/CEO Susan Parry Leake supported that premise saying the tax-exempt status “is based entirely on the idea of credit unions as a nonprofit, cooperative institution and has nothing to do with member groups or services offered.” Louisiana Bankers Association CEO Peter Gwaltney told the publication bankers don’t feel small credit unions that “have remained true to the original mission” should be taxed.

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.