PRESERVE TAX-EXEMPT STATUS OF CREDIT UNIONS

Some in Congress seem to think it’s a good idea to start taxing credit unions. It's NOT!
Credit unions are exempt from the federal income tax because they are not-for-profit and member-owned, member controlled. Credit unions are a valuable alternative to for-profit banks, offering lower fees and interest rates on loans, and higher returns on savings. Ending this tax exemption will result in higher taxes for 96 million credit union members across this country. Members already pay taxes on interest they receive from their credit unions. Instituting a tax at the credit union level would constitute double taxation.
A tax on credit unions is just another example of increasing taxes on the middle-class in order to preserve the under-taxation of the rich. Don’t tax my credit union!