Have you written your Congressperson yet to register your disapproval of efforts by the big banks and their lobbyists to change the tax-exempt status of credit unions? The Don’t Tax My Credit Union! campaign makes it fast and easy, and they want you to do your part.
As credit unions have become more popular in recent years the big banks, through the American Bankers Association (ABA), have stepped up their efforts to change the laws that allow CUs to be exempt from paying federal taxes. Even though CUs are member-owned, not-for-profit cooperatives — and therefore the banks’ claims should be taken with a grain of salt – the move just might succeed in an era where the federal government is looking for all the tax money it can get and the big bank lobby is more powerful than ever.
This is why the good people of Don’t Tax My Credit Union! are fighting so hard on behalf of CUs, and members like you. If the banks succeed it could cost CUs around $2 billion a year. This is chump change for the big banks but it will seriously impact CUs across the country.
Don’t Tax My Credit Union! has a handy feature on their website that allows you to quickly and easily write your Congressperson and let him or her know just how you feel about credit unions being bullied by multi-trillion-dollar banks. Click over to the site and make a difference today.
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