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Show ftooom Sun Advocate tsPDTQRBAL Section Tuesday, August 16, 1994 B ... Preserving credit union tax status By KEVIN ASHBY Sun Advocate publisher The challenge is not new to credit unions in the United States. A renewed challenge to credit unions' tax exempt status is being raised once again by commercial banks. Several years ago, when banks were lobbying members of Congress to regu- i late and tax credit unions, the industry responded with Operation Grassroots. The movement collected six million signatures and put 15,000 protesters on the National Mall in Washington D.C. Although the protest will go down as one of the worst-time- d demonstrations in history, the march on Washington took place on the same day that the Gulf War began, Congress heard the message nonetheless. The House of Representatives and Senate left the credit union system intact. This time, it may be different. There have been so many new lawmakers enter the ranks in Washington the market is open for persuasion from both sides to plead their case. Because credit unions are depositor-run- , institutions, most credit to offer better rates and able unions are fees lower than most commercial institutions. Credit Unions are also less regulated than banks or thrifts. non-prof- it But support on Capitol Hill may be long in coming because many staffers and members of Congress already bank at their own federal credit union, which offers cheaper loans and higher rates on deposits than otherwise available in Washington. For bankers, who tend to resist any government attempts to tax or regulate, the issue is one of fairness. Credit union deposits have increased sixfold since 1980, which directly impacts a larger share of the funds that would otherwise go to banks and thrifts. Bankers maintain credit unions have expanded beyond their original charters to take on new customers. Credit unions are supposed to be bound by a "common bond" like a place of employment, a neighborhood or a rural district. However, bankers complain that these rules have been changed or set aside as some credit unions expand to include several companies or operate in several states. In the end, it has been hard for banks in the past to convince members of Congress that they are suffering unduly because of the tax advantage on the side of credit unions. But with a share of all in the country, and this share deposits increasingall the time, members ofcredit unions should be prepared to ban together once again to preserve a lifestyle offered by member-owne- d financial if What do you think will happen to Carbon County Gooseberry-Narrow- s funding passes? Richard Tatton Price think it would be a disas- ter from an economic point of view. think it will restrict our water availability and would stifle per- sonal and industrial intend to con- growth. tact Orton. Bill Richgrd Dart Price water being one of the prime concerns related to the growth and With of economic Carbon County, it could well-bein- g create insurmountable challenges for our elected officials. r t Recalling i i By ANN KAY MARSING Staff writer I y It wont be long until school bells start to ring throughout the county and moms everywhere can sigh in relief or shed some tears as Johnnie and Susie head out the door. Since my baby is now 21, its been three years since I joined the throngs of frantic shoppers, looking for the best bargains in town. back-to-scho- ol As Ive gone about my regular shopping this past couple of weeks, I couldnt help but notice looks of panic in young mothers eyes as they tore through stacks of clothes and ripped racks to pieces, trying to find that one particular item that would fit and please their child, or i children. Along with the humor Ive found in watching this ritual, thoughts of my own experiences kept flooding back of what it was like for me in those days. If memory serves me correctly, shopping for four boys (I had four teenagers at once) was a nightmare exceeded only by the thought they could have all been girls. back-to-scho- ol a single parent trying to make ends meet for most of their younger years, I remember starting to save for school clothes even before the current school year ended. Id watch for sales and became a pro at finding the best deals around. In actuality, I guess I was lucky because there were very few things I ever As t hassles back-to-scho- ol bought that the boys didnt like. And I dont remember them ever refusing to wear anything Id so painstakingly purchased. But I did get the hint if it hung in the closet and gathered dust. However, I had a cousin whose boys would only wear western shirts, boots and Wranglers. And I knew another mom my age whose daughters wanted cashmere even though the family was on a limited budget like me. Because boys have a tendency to grow in spurts (my third grew six inches the summer between sixth and seventh grade), if you bought too soon, clothes didnt fit by the time school started. Maybe youre thinking with my kids so close in age that what didnt fit one could be passed down. But Im here to tell you that only worked while they were babies and toddlers. By the time they were in school, they were as different as any brothers could be when it came to the size of clothes they wore. mother who actually broke into tears because her child would be returning to school in rags. Other than a few shirts or sweaters, the only things my boys had in common for a lot of years in sizes were their shoes, the one thing Ive always believed shouldnt be handed down, and their underwear. By the time the last three were in high school and junior high, getting ready for a game became hell on earth as the fight began over whose cletes were whose. But the underwear situation is the fondest of all my memories as I remember the marking ceremony shorts, undershirts and socks sported a T, C, B or S before they were ever washed and placed in a drawer. As I recall, the three younger ones were adept at changing an initial with a permanant marker, especially on their white socks. Now that my boys are men, three with children of their own, I can hardly wait for the fun to begin at their homes along with those shopping trips for bargains. But I do know one thing none of them will ever mark their kids underwear. From what theyve finally got up enough courage to tell me, its just too embarrassing in gym class. My hat is off to all the moms (and dads) whose siege at the stores is about to begin. Some advice from an If you havent started yet, eat your Wheaties and go tomorrow. If youre finished and your children dont like what you bought, back-to-scho- My oldest wore husky sizes, my second needed a super-slimy third required and my youngest was like his regulars oldest brother. But with a six-plyear age difference there, styles had changed and most things were out or at least m, us My wildest memory happened in the jeans department of a local sporting goods store, where I was a participant in a over the last pair of size 7 super-slijeans in Carbon County. A close second is the year I shared four pairs of size 10 huskys with a young' tug-of-w- ar m old-time- ol really think it will be rough for the county. But we would just have to find another source of water and chalk it up to f Barbara Cartwright East Carbon It's going to hurt the people of Carbon County. Without water, it's going to effect farmwill eventually ers and ef-fe- everyone. ct The grassroots campaign is a good thing. It's got to help Letters to THE Editor r: threaten to trade kids with the neighbors Rae Colton Price it always worked for me. leaders raise parade issue Local GOP Editor: On behalf of the Carbon County Republican Party, we would like to commend all those involved with International Days. We know this is a big job to pull off. However, as a matter of record, we need to make clear that the candidate from the 3rd Congressional District from the majority party in this state, Dixie Thompson, was told as well as the Carbon County Republican chairman that candidates were not allowed in the parade. Thompson and the Republican chairman were also told that Bill Orton would be there solely as an elected official and people were told that that his there would no be campaigning. And furthermore, how long have Dennis Dooley and Tom Matthews (both accompanying Bill Orton in the parade) lived in this county? Shouldnt they know the rules? Are these people that desperate they have to bend (or ignore) the rules? Or are they just fo- llowing their leader in Washington, Bill Clinton? Mackae Potter, chairman Kerry Frandsen, vice chairman John Schindler, treasurer 7 i |