The Credit Union National Association, a trade group that represents credit unions, is launching a new campaign to protect its members’ federal tax-exempt status.
The campaign, “Don’t Tax My Credit Union,” is intended to rally consumers who belong to credit unions to lobby Congress to preserve the federal tax exemption that credit unions enjoy as not-for-profit, member-owned cooperatives.
CUNA Launches Anti-tax Campaign Read More »
The credit union taxation argument has produced an army of angry bankers and credit unions on the defense. In March the American Bankers Association launched a full-scale advertising attack against credit unions’ tax exempt status asserting that the industry has become a revenue generating machine.
‘Don’t Tax My Credit Union Campaign’ Fights Back Read More »
If you were to turn to the dark side and decide to destroy the credit union movement, here is how you would do it. Simply put, you would do nothing. You would smile, pat the credit unions on the back and tell them what a great job they are doing, and encourage them to relax and enjoy the warm fuzzies of being part of the cooperative community. With a sense of security and success and by doing absolutely nothing, the credit union movement would almost certainly be dismantled.
How to Destroy the Credit Union Movement Read More »
In the wake of the financial crisis, the retail banks that so many millions of consumers relied on for decades suddenly became Public Enemy No. 1.
When Bank of America and Chase threatened to levy $5 monthly fees on debit cards in 2011, an entire holiday –– National Bank Transfer Day –– was created to encourage customers to cut up their credit cards and ditch big banks.
Credit Unions vs. Big Banks: Where Should You Put Your Money? Read More »
Earlier this year the American Bankers Association launched an ad campaign across Washington, D.C., aimed at credit unions and their tax-exempt status.
The billboards read: “Today credit unions are a $1 trillion industry that pays no income tax. That’s nearly $2 BILLION every year that could help shrink the federal deficit. Now, credit unions want even more perks. It’s time to end credit unions’ indefensible and outdated special treatment. Enough is enough.”
‘Don’t Tax My Credit Union’ Campaign Moves Forward Read More »
The long-awaited working group report to the House Ways and Means Committee on tax reform, released Monday, is a mixed bag for credit unions.
On the one hand, the report from the Working Group on Charitable/Exempt Organizations summarized the input it received to be overall in favor of retaining the credit union tax exemption
Credit Union Insight – Tax Report a Mixed Bag for Credit Union Exemption Read More »
