Advocacy for Credit Unions

As not-for-profit financial cooperatives, credit unions take a “people first” approach. That means a focus on serving consumers instead of chasing profits. And that’s exactly what makes credit unions the best option for safe and affordable financial services for families and small business owners.

The new Congress and administration are moving fast on tax reform, which could mean adding a new tax on credit unions and on the members they serve, including you. We must act now to ensure lawmakers understand that a new tax on credit unions is a tax increase on more than 140 million Americans.

Even as the credit union movement has grown, it remains a small but vital part of the financial landscape: Credit unions serve 43% of all Americans, but hold only 8.8% of assets in financial institutions, a clear indication of efforts to help people build their savings and improve their finances. The remaining 91.2% of Americans’ assets are held by banks.

But that hasn’t stopped banks’ greed and desire to eliminate any competition. That’s why they want Congress to eliminate the credit union federal income tax status.

Eliminating this would mean all of the things people love about credit unions would be eliminated too. And at the expense of consumers like you.

Tell Congress: Don’t tax my credit union—it’s a tax on me.