Please send THIS strong message to Congress: “Don’t Tax My Credit Union.”
Congress is considering a "blank sheet of paper" approach, under which all exemptions would be removed from the tax code and they would essentially start from scratch. All tax exemptions, including the credit union tax status, are at risk of termination.
As a credit union member, you are part of a member-owned financial cooperative. Unlike banks that maximize profits for a group of investors, credit unions exist to serve their members, including working families, small businesses, and the local community. In the cooperative, not-for-profit spirit, we provide convenient, affordable, high-value financial solutions for our membership. These benefits would not be possible if credit unions were subject to taxes.
Credit unions hold only 6% of financial assets nationwide, and should not pose a threat to a balanced budget. Since credit unions are not-for-profit, taxing them could destroy the credit union model as we know it, eliminating financial choice for millions of consumers.
This is a very real and pressing concern and we appreciate your voice as a member-owner to tell Congress, "Don't Tax My Credit Union!"