RLM and Credit Unions (which are federally tax exempt)

[David Merrill]

My experience is peripheral only - conversations on the brain trust of suitors.

Being a union, the CU's have no need for FDIC. However I believe that the Comptroller of the Currency still retains regulatory powers over Credit Unions. It seems to me that CU's had no problem with lawful money demands, at first. But then they became quite allergic to demands later. It strikes me that banks with FDIC are more bound in contract to the remedy of the Federal Reserve Act.



Looking into the article, there is a bumper sticker:

You pay income taxes - why don't credit unions?

That is a monkey's puzzle based in smoke and mirrors. The assumption in the conditioned mind is that banks pay income tax.