Francois suggests that credit unions have little to fear about the structure of potential alternative capital instruments adversely affecting their federal and state income tax exemption as long as they continue their commitment of “operating for mutual purposes.” He also predicts alternative capital for credit unions should become a reality this time around.
About Francois Henriquez
François G. Henriquez II is a partner in the Miami office of Shutts & Bowen LLP, where he is a member of the Financial Services Industry Practice Group, practicing primarily in the section’s Credit Union Law Group. A Martindale-Hubbell AV® rated attorney, François regularly represents credit unions across the U.S. in regulatory and transactional matters. His background as a financial services and corporate lawyer are enhanced by his former experience as a financial institution senior executive.