Congress’s number one issue this year is tax reform. While there are many issues lawmakers want to tackle in 2025, the expiring provisions in the 2017 Tax Cuts and Jobs Act are a priority. With Congress looking to find trillions of dollars to pay for tax reform, the credit union tax status is at risk.
During our meetings in D.C. last week, we stressed the importance of the work credit unions do and how changing the current tax exemption would impact the members and communities you serve. We are at a critical moment regarding this fight because the conversations are taking place now on the tax reform bill. We want to ensure the credit union tax status isn’t even considered as a change to be included in this bill. Mitch Shea, Senior Legislative Assistant to Majority Leader Scalise, let us know that the House is looking to have their bill passed by Easter so the time is now to activate your membership. We must continue the conversation and ensure they understand the credit union tax status is off limits.
The Don’t Tax My Credit Union grassroots campaign is a critical effort to protect credit unions’ tax-exempt status. We must reiterate that credit unions are member-owned, not-for-profit institutions that prioritize people over profits, offering lower fees, better rates, and personalized service. However, threats to our tax-exempt status could jeopardize these benefits, making your participation in this campaign more important than ever.
Getting involved is easy and impactful. Start by visiting America’s Credit Unions Grassroots Activation Center and click the gray box that reads “Tell Congress: Don’t tax my credit union – it’s a tax on me.” Here, you can send pre-written messages to your elected representatives or customize your own.
Social media and your members are another powerful tool— MAP program templates and messages are available to share to both social media and to your members. Include impactful stories using the hashtag #DontTaxMyCreditUnion to raise awareness. Our elected officials want to hear directly from their constituents, your members, about the impact that credit unions have had on them!
Planning an event centered around Don’t Tax My Credit Union? Let us know so we can support and promote!
Your voice matters. By participating, you’re helping to protect financial choice, promote economic inclusion, and ensure credit unions can continue serving their members and communities.
Questions? Please contact a member of our Advocacy Team at advocacy@luminate.coop.