The Credit Union Difference
Don't Tax My Credit Union
A new tax on credit unions is a new tax on you. Act now.
Credit unions are not-for-profit financial cooperatives that focus on serving on their communities and members. Over 140 million Americans rely on credit unions like KEMBA Financial Credit Union for their everyday banking needs and long-term financial goals. Our mission is to provide members with the tools and support they need to lead to financial stability, including financial counseling and affordable credit solutions.
This mission is made possible by the credit union federal income tax status, which enables KEMBA, and other credit unions, to foster our focus of people before profits.
Why this matters to me?
As a result of this federal tax status - with an annual 1300% return on investment - credit unions are empowered to give back to their members through better rates, lower fees, and member-focused service to their members and communities. Eliminating this tax status would be a giant win for banks, while eliminating the very core of the credit union mission and values that our members love.
What is currently underway?
Tax reform is underway and moving quickly. Banks, and their advocates, are urging Congress to eliminate the credit union tax status, which could mean adding a new tax on credit unions, directly impacting you and your fellow members.
We must act now to ensure lawmakers understand that a new tax on credit unions would negatively impact the 140 million plus American credit union members in the United States by reducing the benefits available to them and impacting rates on borrowing and saving.
What can you do?
Now is the time to let Congress know that credit unions are essential to the communities they serve and oppose any attempt to remove the credit union tax status. Click on the green bar below to learn more and access a template to email your Representatives and Senators. It will only take a few minutes of your time.
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