America’s Credit Unions President/CEO Jim Nussle spoke with Punchbowl News about the credit union tax status fight currently underway. Bank lobbyists have ramped up their attacks against the credit union industry, using red-herring arguments to try to stifle competition from credit unions and the shifting environment in D.C. to push for an end to the credit union federal income tax status.

The article focused on efforts from both credit unions and banks, with Nussle reiterating how credit unions are upholding their mission to put people first – and that includes serving areas that banks have abandoned.  

“In many instances, credit unions are taking the place of many of those small banks in service to communities and consumer members like never before,” said Nussle.  

Nussle also pointed out that the banking lobby faces shrinking numbers, driving their rhetoric about banks selling to credit unions.

"The pressure is not so much putting pressure on small banks as it’s putting pressure on the bank lobbyists, the small bank lobbyists," he said. "They are losing members hand over fist. Their voice is shrinking dramatically."

America’s Credit Unions continues to elevate the credit union difference among lawmakers, media, and consumers. Last month, in partnership with leagues and credit unions,  an industry-wide campaign to defend the credit union tax status officially launched. Visit donttaxmycreditunion.org to learn more about the campaign.