Bringing the credit union message to Hill staff as Congress prepares return to D.C.

As Congress prepares to return to Washington, D.C., next week to put pen to paper on the tax bill, America’s Credit Unions’ advocacy team held a briefing for House of Representatives staffers on Capitol Hill Thursday. The briefing is part of ongoing advocacy groundwork and consistent outreach to members of Congress and their staff to ensure legislative offices have the latest information about the credit union tax status, its numerous benefits, and other issues affecting credit unions and their members.  

“We had a great briefing with a full room of Congressional staffers today, showing how engaged Congress is on credit union priorities,” said America’s Credit Unions Chief Advocacy Officer Carrie Hunt. “America's Credit Unions detailed the credit union difference, the importance of protecting credit unions' tax status to serve people and communities, and how mission—not size—defines a credit union. America's Credit Unions continues to utilize all avenues to advocate with a unified voice for the industry."

The advocacy team shared the latest data emphasizing credit unions’ positive impact on the economy and consumers – including how credit unions provide $35 billion in consumer benefits annually. They highlighted a recent study showing that removing the tax status would result in $33 billion in lost income tax revenue over the next 10 years, a $266 billion reduction in GDP, and a loss of 822,000 jobs over the next decade.

America’s Credit Unions’ team also emphasized its support of an independent NCUA run by a bipartisan, three-member board in the wake of last week’s removal of board members Todd Harper and Tanya Otsuka by President Donald Trump.