The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.
Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.
The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.
It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.
As you continually B&M about credit unions sponsoring important centers and activities in their communities, then why are not the local community or national banks stepping up and meeting these needs? Besides the help in meeting CRA requirements and getting a tax deduction for the donations, it would make sense in giving back to their communities.
ReplyDeleteThat's right. A significant number of community banks have sold their business to larger, less local owners. This allows the owners of the community banks to make a profit on the investment (a good thing) but takes away local incentives for community involvement. Credit unions are stepping up and filling that void.
BTW, look at Los Angeles for a example of this. A large number of key banks have been purchased and ownership decisions are made elsewhere in the US or around the world (Japan, Canada, Taiwan to name a couple). It has hurt the overall Los Angeles community for involvement and participation.