With bankers staying on the sidelines, Washington state appeared Friday to be the latest ready to enact legislation allowing the "Save to Win" savings raffle program.
"Yes, we are different from Iowa," a spokesman for the Northwest Credit Union Association said of an enabling bill which has cleared both chambers of the legislature and headed to the desk of Gov. Christine Gregoire.
A similar bill in Iowa was killed this week after the Iowa Bankers Association accused CUs of gambling with consumer funds and arguing that "offering a $100,000 raffle prize to one lucky winner is not an appropriate use of the credit unions' tax exemption."
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