With Congress back in their home districts this week, the credit union industry is keeping up the momentum in the Don’t Tax My Credit Union effort. Leagues and credit unions are engaging with their members locally, while America’s Credit Unions’ advocacy team is meeting with Capitol Hill staff with the latest data on the credit union difference.

Information shared with lawmakers shows how credit unions generate tens of billions of dollars per year more than any “cost” of the credit union tax status, and that changing the tax status would be a tax increase on more than 140 million Americans.

Challenging the recent change in bank tactics that call for taxing credit unions with more than $1 billion in assets, the data notes that the market share of every single credit union in that category combined is still a fraction of the market share held by community banks.

In addition to the in-person meetings, the Don’t Tax My Credit Union grassroots action alert is ongoing. Credit union stakeholders are urged to use the Member Activation Program and encourage their members to reach out to members of Congress through the Don’t Tax My Credit Union “Take Action” link. 

Additional resources include graphics, email templates, press kits, social media materials, and more.

DTMCU webinar for larger credit unions

America’s Credit Unions member credit unions above or approaching the $1 billion asset threshold are invited to a free webinar Thursday to hear from President/CEO Jim Nussle and Chief Advocacy Officer Carrie Hunt on the latest updates, how the campaign is evolving, and ask questions. The webinar is closed to the press.

Members should check their inbox for a message from Nussle with more details and the registration link.