Small California credit union approved for major membership expansion


“…But bankers in the state said the expansion is just another example of credit union overreach.

Ana Helman, director of membership communications for the California Bankers Association, said large credit unions are competing more and more with banks, especially community banks, and should be held to the same standards as other financial institutions that provide similar products and services. 

“The expansion of credit unions underscores the need to revisit their mission and the tax exemptions afforded them,” she said.”

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