Wednesday, September 2, 2015

Arkansas FCU Booted from $17.5 Million Loan Participation

At the request of the Arkansas Bankers Association, Arkansas Federal Credit Union, the state's 10th largest financial institution, was disinvited from participating in a $17.5 million loan for the Little Rock Tech Park.

The Arkansas Bankers Association pointed out that it would be a stretch for the Little Rock Tech Park Authority to qualify for credit union membership.

Bankers also objected to a tax-exempt credit union earning interest from a borrower supported by taxpayers via a sales tax approved by voters.

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1 comment:

  1. AnonymousSeptember 2, 2015 at 4:23 PM

    At least those banks are consistent. None of them are part of the group of 39 Arkansas banks that do not pay corporate taxes since they are owned as Subchapter S corporations.

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