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Congress is considering possible legislation to reform the U.S. tax code. It appears lawmakers are considering a “blank piece of paper” approach—under that scenario, all exemptions would be removed from the tax code and Congress would start from scratch to write a new tax code. If Congress goes down that road, all tax exemptions, including the credit union tax status, could be gone.
If we are to preserve our tax status, we must ensure our voice is heard loud and clear on Capitol Hill, and that there is no doubt in Congress that a tax on credit unions is a tax on 96 million Americans, and therefore unthinkable.
How does this impact you?
Any tax on credit unions is really a tax on its members since credit unions are cooperatively owned by the people they serve. If credit unions were taxed, their benefits to members and communities will be lost, and a consumer-friendly option in the financial marketplace will vanish.
Now is the time to mobilize and deliver a strong message to Congress: “Don’t Tax My Credit Union.”


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