Protecting People Over Profit
People come first at credit unions. As member-owned financial institutions, credit unions lower costs, expand access, and stabilize household finances, especially when affordability is under pressure.
That’s why more than 146 million Americans choose credit unions as their trusted financial partner.
From no- and low-fee accounts and financial counseling to better interest rates on affordable loans, credit unions are here to help people achieve their best financial lives.
A new tax on credit unions would put the American Dream at risk for millions of Americans. Fewer affordable loans. Higher fees. Less flexibility for working families. That’s something we can’t afford.
Credit unions provide access to affordability
For more than 100 years, people have come together through credit unions to support
each other through tough financial times. People turned to credit unions in the U.S.
when banks refused to serve them. Families, farmers, small business owners and other
hardworking Americans across the country found affordable financial options by pooling
resources and helping each other by starting credit unions when banks wouldn’t step up.
Congress recognized the importance of the credit union movement, providing credit
unions with the federal income tax status to ensure they continue to meet the needs of
underserved people and communities. As not-for-profit financial cooperatives, owned by
their members, credit unions pay billions in state and local taxes each year:
- $26 billion in federal taxes paid directly and generated by credit unions
- $14 billion in state taxes paid directly and generated by credit unions.
The only exception is the federal income tax on profits. And that’s because those profits
are returned to credit union members like you.
More people across the country are joining you in choosing to belong to a credit union
because they witness the power and benefits of the credit union movement to
strengthen the financial well-being of individuals and communities.
of voters in the U.S. support preserving the credit union tax status
agree Americans would be better off financially using a credit union
of credit union members trust their credit union (vs. 84% of bank customers)
America’s Credit Unions’ poll by CYGNAL/FederickPolls, Dec 2-4, 2024, n=1000.
Find affordability at your credit union
As consumers look for affordable options, credit unions are there to help.
When people partner with a credit union, they join a small but vital part of the financial
landscape.
The numbers tell the story: Credit unions serve 43% of all Americans but hold only 8.8% of assets in financial institutions. The remaining 91.2% of Americans’ assets are held by banks.
Hardworking Americans turn to credit unions to grow their savings and improve their
finances. Credit unions are a partner that people like you can count on to help build your
American Dream.
We protected the credit union tax status as Congress worked on their budget last year.
Now, Congress is back with another reconciliation bill, and banks’ greed and desire to
eliminate any competition hasn’t stopped. They still want Congress to eliminate the
credit union federal income tax status. That puts your American Dream at risk.
Eliminating this would mean all the things people love about credit unions would be
eliminated too. And at the expense of consumers like you.
The American people deserve affordable, accessible financial options – and credit
unions deliver.
Credit union impact across the country
Americans need affordable financial services that put them first, and credit unions deliver. See for yourself.
Credit unions drive substantial economic impact nationwide. As not-for-profits, they positively impact local economies by creating employment, boosting output, and increasing tax revenue at state and federal levels.
Represents 2025 data. Source: IMPLAN, U.S. Census Bureau, Bureau of Labor Statistics, Bureau of Economic Analysis, NCUA, and America’s Credit Unions.
Making a difference with credit unions
Members count on their credit union to help them achieve their best financial lives. Through their people first, not-for-profit status, credit unions provide local, affordable solutions that support vibrant and growing communities. People come first by design at credit unions – including those who often feel like they’ve been left behind. That’s the credit union difference.
