A tax on credit unions is a tax on its members.
On a federal level, lawmakers are discussing eliminating the credit union tax exemption status, which is a direct threat to you as a member owner. The credit union tax exemption status is at risk, and we are asking you to help us advocate.
Credit unions are not-for-profit financial cooperatives that exist to serve YOU, our members, rather than to benefit for-profit shareholders. Because we are owned by our members and governed by a volunteer board of directors, credit unions receive a tax exemption from the federal government. This exemption status has always allowed us to be able to give back to our member-owners with benefits such as lower loan rates, higher deposit rates and fewer fees, rather than distributing profits to for-profit shareholders, as banks do. Congress has returned to their home districts from Washington D.C. this week, and it is critical that they hear from you while they are in your home district – before they return to Washington D.C.
Here’s how you can help:
Please visit this site to take action! Simply click on the red “Take Action” button in the top right corner, fill in your contact information and click on the red “Send Message” button at the bottom of the page. You have the option to add in your own story if you would like to personalize the message.
Thank you for your attention to this urgent issue and for exercising your voice as a member-owner. With your support, we will continue to do all that we can to best serve our members, associates and communities.