Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Congressional Recess Gives CUs Tax-status Advocacy Opportunity
WASHINGTON (5/28/13)--Credit union supporters can keep up their advocacy efforts by acting locally and speaking up for the credit union tax status and other credit union priorities as members of the U.S. Congress return to their home districts for the Memorial Day district work period, the Credit Union National Association said.

"We need to make sure the importance of maintaining the credit union tax status, and other issues, are at the forefront of legislators' minds as they return to their home districts. Any face time with legislators is time well spent," CUNA Senior Vice President of Political Affairs Richard Gose said.

Tax status advocacy is the clear top priority, as the U.S. House and Senate have made broad-based tax reform a major priority. CUNA has joined with affiliated state credit union leagues to launch a large-scale, nationwide grassroots-mobilization campaign urging credit union members across the country to deliver a united message to the U.S. Congress: "Don't tax my credit union!"

Credit unions are vying with 400 other groups that are also working to preserve their own tax preference, and CUNA has provided several tips to help credit union tax status outreach efforts. CUNA has suggested that credit unions:

  • Encourage members to visit where they can watch our educational video and take action to email their member of Congress;
  • Encourage members to download the CUNA Advocacy App for iPhone and Android smartphones; and
  • Work with CUNA and their state leagues to set up Vine campaigns in their credit union branches and offices (see CUNA tax advocacy toolkit for more information on Vine).
"The conversation with them needs to begin now, and our action will need to be sustained at least through the end of the year, perhaps longer. The tax status will not be secure until the process is complete," Cheney said.

CUNA has suggested that credit union supporters can ask members of Congress that already support the tax status to speak with leadership and members of the key tax-writing committees. Credit union comments should focus on the need to maintain the federal tax status, not the fact that credit unions pay state and other taxes. And the message should remain consistent, whether the legislator is a member of the House or Senate: Tell them "Don't tax my credit union."

More information to help credit unions with these efforts is included in a special CUNA tax advocacy toolkit.

To learn more about CUNA's and the leagues' "Don't Tax My Credit Union" campaign, use the resource link.

News Now LiveWire
CU Effect: @StLouisComm collaborates to save homes with FHLB grant #NewsNow
4 hours ago
#NewsNow March 31 deadline for Biz Kid$ fin. ed grant application
5 hours ago
.@CUNA sends letters on @RepAndyBarr QM bill, @RepMickMulvaney @NCUA budget transparency bill #NewsNow
7 hours ago
The U.S. Court of Appeals restored NCUA lawsuit v. Barclays Capital that charged misrepresenting quality of $550M IN RMBS. See News Now Wed.
21 hours ago
Registration is now open for the online livestreaming of @TheNCUA March 19 open board meeting.
1 day ago