Don’t Tax My Credit Union…

Credit Unions were created as not-for-profit financial institutions…

They are owned and controlled by their members, and any profits are reinvested back into the organization to benefit Members, rather than distributed to stockholders.

• Credit Unions were started by communities, and businesses for their employees as an alternative to banks in that they would solely benefit their Membership .
• Any profits made by a Credit Union are paid back to their Membership in the form of higher savings rates, lower borrowing rates and keeping the Credit Union up to date for it’s Membership.
• Credit Unions participate and work toward the positive growth of their communities because they were started and are run by people within those communities.

Congress Is Being Lobbied By the Independent Community Bankers Association

These lobbyists calling for Credit Unions to lose their Not-For-Profit status are representing banks of all sizes that are either privately owned or have sellable shares held by stock holders that are looking for a profit to go into their pocket rather than being fully reinvested into their financial institutions.

What Will This Do To Your Credit Union?

• Essentially it will make Credit Union into For Profit Financial Institutions.
• Credit Unions will need to take profits away from the benefits to their Members in order to meet this new tax status.

If You Love The Benefit Of Being A Member Of A Credit Union…

• Learn more about the differences between your Credit Union and For Profit Banks.
• Please let your voice be heard by Congress.
• Tell Congress “Don’t Tax My Credit Union”