OTTAWA, Canada—It isn’t just credit unions in the U.S. that are hiking the hill. Credit unions in this country have done the same, in this case hiking Parliament Hill to lobby the Canadian government to “recognize credit unions’ structural differences and to promote policies such as the Capital Growth Tax Credit.”
The effort is part of a broader “My Credit Union Matters” campaign that has been organized by the country’s credit unions. During a meeting here in the national capital, credit union representatives met with members of Parliament and with Kevin Sorenson, Minister of State, who welcomed the credit union representatives to Ottawa. Thomas Mulcair, the leader of the Official Opposition, told credit unions, "I know your movement... I will support the tax credit if we get in the next election"
Nearly 4,000 letters have been sent to elected officials, with many advocating support for the Capital Growth Tax Credit, which would allow co-operative financial institutions to grow retained earnings and produce an estimated $700 million in economic growth and job creation, according to its backers.
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