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Article: CREDIT UNIONS SHOULD REMAIN EXEMPT.(FRONT)

Article from:
The Virginian-Pilot (Norfolk, VA)
Article date:
February 25, 1997
Copyright

Byline: EUGENE H. FARLEY JR.

If you read Walter Ayers' recent column (``Not all credit unions deserve tax-free status,'' Another View, Feb. 15), you might conclude that credit unions have an unfair advantage over banks. You need to know the rest of the story to understand why bankers don't want consumers to have the right to choose credit unions.

Mr. Ayers, executive vice president of the Virginia Bankers Association, states that the credit-union system's percentage of growth is greater than the banking industry. What Ayers fails to reveal is that the $5.4 trillion banking industry grew by more than $300 billion last year - an amount almost as great as ...

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