Stop The CU Grab
OPPOSE CREDIT UNION COMMERCIAL LENDING EXPANSION
Credit unions want Congress to expand their member business lending (MBL) authority – a cap that Congress put in place to ensure that credit unions would abide by their statutorily-charged mission to serve people of modest means and avoid excessive risk-taking. With their industry engaged in a full-scale campaign to bully Congress into increasing this cap, it’s important to know the real facts about increased MBL authority and the mega credit unions that are pushing for this change.
OPPOSE CREDIT UNION SUPPLEMENTAL CAPITAL AUTHORIZATION
Credit unions are again looking for any opportunity to unfairly compete with banks by seeking to raise supplemental capital by issuing equity. This directly undermines the basis of the credit union tax-exemption by allowing a credit union to act, in part, as investor-owned corporations with an obligation to assure shareholder profit — except that they will still not pay taxes.
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