As Congress considers comprehensive tax reform, I am requesting your help to protect my credit union. As you may be aware, credit unions are not-for-profit financial cooperatives which are exempted from paying traditional federal income taxes. The credit union tax status allows my credit union to better serve my needs as a member and owner. Credit unions are unique, and as not-for-profits, are focused on providing me and my community affordable financial services. They stand in contrast to for-profit banks that want to charge me extra fees, pay me lower savings rates, and push predatory products harmful to me and to my community.
If Congress changes the credit union tax status, credit unions will be irrevocably harmed.