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Chuck BruenI recently attended a meeting where a diverse group of credit union officials were talking with a policymaker. The topic of associational fields of membership came up. During that discussion, and in obvious competitive frustration, the CEO of a smaller credit union said, “If these large credit unions want to abuse the FOM system and accept everyone for membership, there is a business model for them and it is called a mutual savings bank. Let them serve everybody, but tax them.”

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