The Ohio Credit Union League gained one for the industry team,receiving a hand-delivered letter from Sen. Sherrod Brown (D-Ohio) that voiced his formal support formaintaining credit unions' tax-exempt status.
|Brown personally delivered the letter during Wednesday'sbreakfast meeting with the Ohio Hike the Hill delegation, saidLeague Director of Media and Public Relations Patrick Harris.
|In the letter to Secretary of the U.S. Department of theTreasury Timothy Geithner, Brown acknowledged that the reasonsexempting federally chartered credit unions for some taxation areas true today as they were when the Federal Credit Union Act waspassed 78 years ago on June 26.
|“America's credit unions are a vital part of our nation'sdiverse financial industry. Accordingly, I urge you to protect thefederal tax-exempt status of federal credit unions, includingOhio's nearly 400 credit unions,” Brown wrote in the letter.
|“Earning this level of proactive and vocal support has been theresult of years of relationship building with Senator Brown,” OhioCredit Union League President Paul Mercer said.
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