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English
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| Number of pages / Number of words: |
4 / 984 |
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While he does not give exact figures, he also points out that the federal government would also greatly benefit from income tax revenue of credit unions. While credit unions agree that taxation would give extra revenue for public works, they argue that they are already providing a public good by offering lower loan interests rates and high dividend rates on deposits, specifically assisting lower-income citizens...
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The Credit Union National Association (CUNA) claims that, if credit unions were subject to income taxes, "customers would be required to pay higher fees?and the victims of such pressures would be small loans, financial counseling, and small share draft accounts and loan rebates." They claim that credit unions would be forced to raise their fees and cause several small credit unions to close their doors to the local communities...
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