If credit unions are serious about preventing taxes by federal and state actions a sure way to stop such threats is to declare that all volunteers would resign the day such taxation passed the legislature. All legal credit unions would then be justified in closing their doors because it would be illegal to operate without leadership. The resulting panic would get the attention of the politicians. A second approach would be to require an exemption from taxes equivalent to the dollar savings by the time volunteers spend serving the credit unions. Each credit union has a board of 5 or more members, a supervisory committee of three or more members, and a loan committee of three or more members. Banks pay such individuals $125 an hour for their officers. The decisions for credit unions are no less valuable. Many volunteers spend at least one hour a week in filling their assignments – 52 hours times $125 = $6,500 times 11 volunteers = $71,500. Utah has about 130 state credit unions. 130 times $71,500 = $9,295,000 exclusion from taxes as a minimum for Utah. Utah plans to tax profits 30% so this reserve would reduce taxes $2,788,500. A third consideration would require that taxes only be paid on retained profits after all costs of doing business, bad debt reserves, reserves for obsolence, reserves for the purchase of real estate and major investments needed for service to share-holders and selected wise and prudent anticipated business expenses. Oscar Walch Former Chairman W.H. Groves Latter Day Saints Hospital CU Salt Lake City, Utah