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The National Taxpayers Union claims some credit unions have abandoned their principals when it comes to the tax-exempt status.

A coalition of fiscal conservative organizations is urging Senate Finance Chairman Orrin Hatch (R-Utah) to follow through on his effort to closely examine the credit union tax exemption, saying the largest ones more closely resemble banks.

The ten groups, led by the National Taxpayers Union, say that while the majority of credit unions continue to limit depositors to groups that hold a common bond, some have abandoned those principles.

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David Baumann


Credit Union Times

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