What is Credit Union?
1.
A scheme to avoid paying taxes. CU members argue that they should be tax exempt because
1. They are member-owned. (Other member-owned coops pay taxes on non-disbursed earnings)
2. They can't issue stock. (Lots of companies--many LLCs, sole proprietorships, S Corporations, etc. -- do not issue stock but still pay income taxes.
3. CUs (allegedly) provide better service (tax exemptions are not awarded to companies that provide the best service).
Credit unions were originally tax exempt because they provided financial services to underserved markets. Today, however, credit unions compete directly against banks and should therefore pay taxes.
Random Words:
1.
The unhappy wiggle who wears all black and who rarely ever sings along.
'I see Sam, Murray, Jeff and Anthony. Where is this emo Wi..
1.
A frump-a-lump is quite a large, obese chick, one comparable to the size of a cow (rule of thumb), and is quite grotesque in nature. On..