The big banks and some in Congress want to raise taxes and impose new fees on 110 million credit union members who represent 40% of all Americans, yet represent only 6% of the assets in financial institutions.
The credit union mission has always been to ensure secure financial choices at lower costs for their members. That’s why credit unions offer financial products that provide better returns on savings, reduced rates on loans and lower or no fees on services. Click here for other recent news about credit unions.
Some banks are asking state legislators to pass resolutions calling on the U.S. Congress to eliminate the nonprofit status of credit unions, effectively imposing new taxes on the banks’ smallest of rivals. Click here to see if “too big to fail” banks are targeting your state.
Step back and it’s clear that an income tax on member-owned credit unions takes from the pockets of millions of North Carolinians to appease for-profit banks. How is that fair?
About Don’t tax my CU
“Don’t Tax My Credit Union” is a national campaign dedicated to ensuring Congress doesn’t raise taxes on 96 million credit union members nationwide and preserves financial choice for American consumers. Join us today to share your story and tell Congress: Don’t Tax My Credit Union!