Taxing Credit Unions Will Hurt Consumers

Earlier this year, Iowa State University published a study that found same-sex couples were more likely to be denied a mortgage than heterosexual couples. To address this discrepancy, the first credit union to serve the LGBTQ community was formed this year in Michigan. Yet, not everyone supports credit unions. The Florida Bankers Association have long […]

Credit Unions’ Tax Exemption Pays Off for Consumers

Banks Regularly question the legitimacy of credit unions’ exemption from federal taxes. The casual observer may wonder why credit unions, which take deposits and make loans, are treated differently for taxes purposes than are banks which perform like services. The justification comes from unique functions performed by credit unions. The exemption from taxation was explained […]

ACI Blog in Huffington Post: Deficit-Free Economic Stimulation

Congress has it hands full again. With the potential of cutting government spending and raising taxes, most Democrats and Republicans have one thing they can agree on – either option could jeopardize an already weak economic recovery. But there is one win-win solution that can encourage economic investment, help small businesses grow, create jobs, and […]

ACI Applauds the Conference of Mayors Support for the Credit Union Small Business Jobs Bill

At the 80th Annual Conference of Mayors, held in Orlando Florida this June, the mayors approved a resolution in support of the Credit Union Small Business Jobs Bill.  Our research shows that small businesses would benefit from the bill by providing access to capital, encouraging investment and creating small business jobs.  We appauld the Conference of Mayor for adopting this […]

Lending on the Level-Playing-Field

Warren Stephens’ commentary on “How Big Banks Threaten Our Economy” (WSJ, Opinion, April 30) discusses systemic banking risks and states correctly that “we should promote competition and innovation in the financial industry, not protect an oligopoly.”  However, he misses an important and timely example of how rules are set in favor of banks over potential […]

The Credit Union Experience – Only for Some?

The Credit Union National Association found that 90 million American individuals enjoyed $7 billion in direct financial benefits from credit unions during the year ending June 2010.  These benefits came as lower loan rates, higher deposit interest, and lower fees than in offered by bank institutions.  Equally valuable, credit unions members experienced the sense of […]

The Hill’s Congressional Blog: Improving Small Business Access to Private Capital Will Create Jobs

On the surface, last month’s economic indicators introduce a dose of positivity into the market: the private sector added 200,000 jobs and the unemployment rate dropped to 8.5 percent, its lowest point since February 2009. But take a closer look and you’ll see that small businesses are still struggling to catch up, as tight access […]

“Tax Expenditures” – Not So Fast !

Current deficit reduction talks are reported to have “everything on the table” – all income sources and all outlays.  The least agreement swirls around income tax revenues, both in the scope of taxation and the tax rates.   Personal exemptions from federal tax application include items such as charitable donations, mortgage interest, and state and local […]