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Federal Tax Status

Impact

Credit unions are democratically owned and controlled not-for-profit cooperative financial institutions that take pride in their “People Helping People” philosophy. Credit unions are exempt from federal income tax because of their structure as not-for-profit financial cooperatives and their mission to promote thrift and provide access to credit for provident purposes.

 

Where We Stand

Credit unions continue to face attacks on their federal income tax status.  Both the House and Senate have released frameworks for comprehensive tax reform.  Currently, the credit union tax status has been left untouched.  Congressional leaders and the Administration have released a framework for tax reform.  

What We've Told Lawmakers & Regulators
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News & Research
Tax Reform 2017

CUNA's White Paper
December 2017

Contact

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