They offer the same array of products and services. And credit unions have access to all the government agencies. They've got an obligation, a duty, to pay their taxes. What angers bankers is the bottom line. Canada began taxing its credit unions in 1972 and Australia began taxing credit unions in 1993, and bankers' associations are quick to point out that credit unions in those countries continue to prosper.
Credit unions are all things to all people.
They're not nonprofit. That's a lie. They sing a song that's not consistent. Bankrate Inc. All rights reserved.