Inside INdiana Business published an op-ed on Aug. 7, “Consumers Pay For Credit Union Federal Tax Entitlement,” authored by Amber R. Van Til, president and CEO of the Indiana Bankers Association. The op-ed begins: “The credit union industry has been pushing back against widespread rationale to have credit unions pay federal taxes, despite the fact that other organizations, providing the same services in the same industry, pay their fair share. Even individual taxpayers, who on average pay $7,899 each in annual federal taxes, per the U.S. Census Bureau, pay more than all U.S. credit unions combined.”
On Aug. 8, the ABA Banking Journal promoted the op-ed, noting: “Van Til pushed back against several erroneous assertions often made by the credit union industry about the need for the credit union tax exemption, including the claim that credit unions are mostly small, humble institutions serving customers of limited means.” Van Til’s op-ed also was featured in the Aug. 9 edition of ABA Daily Newsbytes.