Nussle joins new podcast: “The CUInsight Trendline”
The “Don’t Tax My Credit Union” campaign was the center of a brand-new podcast from CUInsight, with America’s Credit Unions President/CEO Jim Nussle sharing insights as the first guest. Nussle joined host Greg Michilig for the CUInsight Trendline podcast’s first episode.
Asked about the biggest challenge in preserving the credit union difference, Nussle described the need to be more vocal and create enough noise in a complicated advocacy environment.
“My belief is that the [tax fight decision] will be a two o’clock in the morning kind of meeting, in a back room where a few of the leaders get to decide whether or not to pay for the tax bill, how to pay for it, and whether or not credit unions will be a part of the mix,” Nussle warned. “Our job is to influence all of the pressure points before they get into that late, last-minute meeting, so that they don’t put credit unions and our tax status at risk.”
When asked why the bank lobby has shifted their focus to tax credit unions more than $1 billion, Nussle responded that he thinks the bank lobby is losing.
“They’ve lost the argument about the difference between credit unions and banks. At the GAC, with our Leagues, at Hike-the Hills, and at home we’ve been able to convince lawmakers that there is a difference between credit unions and banks,” Nussle said. “The only thing they have left is an arbitrary number that is a nonsensical argument and has nothing to do with the credit union difference. That’s the reason they’ve shifted their argument because their argument has failed.”
Nussle told listeners that the best action credit unions can take in this tax fight is to talk about the credit union difference – specifically how credit unions are different from banks – in how they provide services, the communities being served, and helping people with their financial well-being. Nussle says that if these differences are continually highlighted, “That difference will rise to the top and be able to not only maintain [our tax status], but we’ll be able to reach out and do an even better job of expanding our ability to serve in the future.”