The New York Credit Union Association has received reports that an individual calling himself a “tax policy expert” is circulating unsolicited emails that call on small and mid-size credit unions to sign on to a letter condemning larger-asset-size credit unions. The letter to Congress claims larger credit unions are operating in a manner that is inconsistent with the tax-exempt status.
The Association vehemently disapproves of this “divide and conquer” strategy and wholly opposes this individual’s line of thinking.
The Association is encouraging New York credit unions to simply ignore and delete the divisive emails.
“The New York credit union movement has successfully defended our tax status for decades because of our unified efforts,” said Association President/CEO William J. Mellin. “These latest attempts to divide our movement are nothing new, though we have seen an increase in these types of tactics recently. But those of us who have been around this movement for a number of years know that our diversity is among our greatest strengths, and a unified credit union movement is an unmatched advocacy force.”