Thank you for sharing!

Your article was successfully shared with the contacts you provided.

If credit unions were subject to income taxes, they would lose a key part of what makes them unique, but experts are divided as to whether it would create a stampede of bank conversions.

“Being taxed would cause a real difficult adjustment for some credit unions. They’d have to increase efficiencies, at the very least. But it is not at all clear that they would conclude that changing over to a bank would be better for their members,” said Janice Hollar, a former credit union CEO who is now senior vice president of RP Financial LC. The Virginia-based consulting firm works with banks and credit unions on strategic planning, mergers and business plans.

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.