Daniel Mica's Letter to Majority Leader Tom Delay Regarding Tax Status of Credit Unions
June 29, 2004
The Honorable Tom DeLay
U.S. House of Representatives
Washington, DC 20515
Dear Leader DeLay:
On behalf of the over 9,000 credit unions that are members of the Credit Union National Association (CUNA), as well as over 84 million credit union members nationwide, I applaud your recent comments in CUNA's NewsWatch magazine about the tax status of credit unions. Your willingness to publicly state your position on this issue of extreme importance--indeed, an issue of survival--for credit unions, speaks volumes about your leadership and your dedication to protecting our nation's economy and its consumers.
Credit unions are also grateful for your recognition of the important role that credit unions can play in providing credit to the small businesses of America. By helping small business create jobs, credit unions can make a valuable contribution in growing our economy.
As consumer-owned, democratically controlled, volunteer-run financial cooperatives, credit unions hope to continue providing millions of Americans the opportunity to be financially successful. Your commitment to retain their current tax status will go a long way to help them fulfill that mission.
Thank you again for your support. We look forward to working with you on this and other issues of importance to our nation.
Daniel A. Mica
President & CEO