Colorado’s credit unions deserve to keep their non-profit status

Credit Union of Colorado teller Rebecca Dominguez helps a customer at the central Denver branch at 1390 Logan St. (Denver Post file photo)

More than one in four Coloradans is a member of a credit union, the major alternative to commercial banks. They’ve had that choice for more than 80 years, since the Rio Grande Operating Credit Union, the oldest in our state, opened its doors in June 1931.

But that choice may be threatened as a result of congressional debate in Washington. The banking industry and its friends in Congress are considering stripping credit unions of their status as non-profit organizations as part of a broader tax reform package.  READ MORE