Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
South Dakota CUs Score Another Win in Tax Battle
BROOKINGS, S.D. (1/6/14)--South Dakota credit unions achieved another victory in their battle against state banks Thursday when a resolution proposal to change the tax status of state credit unions and farm credit services failed to get support from the Brookings Chamber of Commerce  Government Affairs Committee and died on the table. 
 
A motion was made to approve the resolution; however, it failed to receive a second motion and was not called into question, the Credit Union Association of the Dakotas (CUAD) reported. If approved, the resolution proposal would have been recommended for adoption by the Brookings Chamber of Commerce and Visitors Bureau Board of Directors. 
 
While the South Dakota Bankers Association is seeking a resolution sponsor for the upcoming state legislative session, its proposal has failed to win approval from several local city, county and school boards across the state, including the Brookings County and City commissions, Yankton City Commission and School Board, the Vermillion City and Clay County commissions, and Campbell County Commission.  
 
"Over the course of the last several months I have come to the conclusion that the reason that banks are devoting so much time and energy to shouting at the rain about 'tax equality' on the local level is because they can't sell it anywhere else," Jeff Olson, CUAD vice president of advocacy, told News Now
 
CUAD will advocate for credit unions at the Yankton Area Progressive Growth Committee and at the Vermillion and Brookings School Board meetings Jan. 14. The South Dakota Legislative Session is set to open in Pierre Jan. 14.
RSS





print
News Now LiveWire
Middle-class families walking a tightrope with little savings @pewresearch HT @CNNMoney http://t.co/Pfu2KHASZa
15 hours ago
.@CUNA's @SchenkMike on @federalreserve meeting: http://t.co/Ry39vjWdA1
15 hours ago
#creditunion cites prize-linked savings success in @WSJ http://t.co/3CXupUMx5d
18 hours ago
.@CFPB proposes mtg rule changes 2 facilitate responsible lending by small creditors, esp. in rural/underserved areas.http://t.co/sn6PnlS0EB
19 hours ago
#NewsNow Apple Pay interest booming at CUs, Western Union joins http://t.co/LsaoOYzAPx
21 hours ago