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Contact:
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Robert Schmermund
(202) 857-3104
Jim Eberle
(202) 857-3145
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Jim Eberle
(202) 857-3145 (work)
(703) 893-2593 (home)
[email protected]
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For Immediate Release
February 5, 2003
#03-04 |
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E-mail:
[email protected] |
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ACB STRONGLY OPPOSES CREDIT UNION
MEMBERSHIP EXPANSION PROPOSAL
WASHINGTON, D.C. — America’s Community Bankers has expressed its strong opposition to the National Credit Union Administration’s proposed expansion of membership opportunities for federal credit unions.
In its comment letter, ACB said the proposal “would allow credit unions to serve the general public without serious regard to the commonality of credit union members.”
“If credit unions no longer adhere to the common bond or to the service to members of small means, we would welcome them into full tax-paying membership of today’s financial services marketplace,” ACB added.
“ACB sees no merit in this rulemaking and further sees no reason why credit unions should not be judged to be in active competition with banks and treated the same as banks with both taxation and compliance with the Community Reinvestment Act,” ACB said.
The comment letter is attached.
America’s Community Bankers is the national trade association committed to shaping the future of
banking by being the innovative industry leader strengthening the competitive position of
community banks. To learn more about ACB, visit
www.AmericasCommunityBankers.com.
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Copyright 1996-2002 © America’s Community Bankers. All Rights Reserved.
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