Credit unions face a pivotal moment this year in defending their tax status, warns Cornerstone League President/CEO Caroline Willard in a CUInsight op-ed. 

Willard writes that the tax status “isn’t about credit unions themselves; it’s about the millions of people, families, and small businesses we serve. It enables credit unions to offer better rates, lower fees, and financial services to those who need them most.”

She counters arguments against the tax status by highlighting the return on investment for communities credit unions serve in the form of:

• Better rates and lower fees;
• Expanded access to financial services; and
• Small business and homeownership support.

Willard also urges credit union leaders to act through America’s Credit Unions’ Don’t Tax My Credit Union campaign and asked them to continue telling our stories. 

“By standing together and reinforcing the ‘credit union difference,’ we can ensure that credit unions remain a vital force in financial services for generations to come,” Willard concluded. “With the advocacy efforts of America’s Credit Unions and strong leadership engagement, we can protect the tax status that allows credit unions to serve their members and communities most effectively.”

Read the full op-ed here.