On Air Now

Upcoming Shows

Program Schedule »


Listen Live Now » 1320 AM Sioux Falls, SD 107.9 FM Sioux Falls, SD


Current Conditions(Sioux Falls,SD 57104)

More Weather »
55° Feels Like: 55°
Wind: E 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip


Mostly Sunny 74°


Mostly Clear 54°


Partly Cloudy 73°


South Dakota Bankers Association sets sites on credit unions


SIOUX FALLS, S.D. (KELO AM) - The South Dakota Bankers Association says antiquated tax breaks for credit unions and the Farm Credit System should end.

     Association President Curtis Everson says credit unions pay no federal income tax, no state bank franchise tax and no state or local sales taxes.

     Everson says bankers are drawing attention to lost revenue opportunities.  He says exemptions enjoyed by community-charted credit unions and Farm Credit institutions cost the federal government $3.4 billion a year and the South Dakota treasury $1.3 million a year.  He says schools, cities, town and counties in South Dakota lose $3.7 million a year.               

     Everson says the Farm Credit System was established almost a hundred years ago to provide credit to beginning farmers and ranchers.