Maybe the playing field is somewhat unfair for a small bank. But I have a hard time believing that the small banks wouldn't be getting gobbled up anyway by the big banks, like they are currently. There's no way that the playing field is unfair for the likes of Wells Fargo, Washington Mutual, and Bank of America.
Well, insofar as one is tax exempt and another is not, BeBop is correct.
From an economic standpoint BeBop might be right. The implicit subsidy to credit unions generates economic inefficiencies. On the other hand, in general lower taxes are a good thing. It's uncertain which of these effects predominates.
Guy