Your Credit Union Needs Your Help
There is a movement afoot led by big banks and some in Congress who want to raise taxes and impose new fees on 96 million credit union members. And, they want to do this despite the fact that credit unions are not-for-profit and meeting their core mission every day.
That's wrong and will imperil the credit union movement that so many have come to depend on for real financial choice. Don't let Congress raise taxes on 96 million credit union members. Don't let Congress eliminate real financial choice.
Don't Tax My Credit Union is a national campaign dedicated to ensuring Congress doesn't raise taxes on 96 million credit union members nationwide and preserves financial choice for American consumers. Get involved today to share your story and tell Congress: Don't Tax My Credit Union!
You can take action by sending a message to Congress through Don't Tax My Credit Union and clicking on the Take Action graphic.
You can also send a message to Congress through Connect For The Cause, the California Credit Union League's grassroots website.
You can also learn more about this issue, and the reasons behind the movement, by watching this video from CUNA. It's a good overview of the issue, provided by the Credit Union National Association.
WHY IT'S IMPORTANT
- Credit unions promote the economic well being of their members, especially those of modest means,through a system that is member-owned, volunteer-directed and not-for-profit.
- The credit union mission has always been to ensure secure financial choices at lower costs for their members. That's why credit unions offer financial products that provide better returns on savings, reduced rates on loans and lower or no fees on services.
- While credit unions are regulated by the federal and state governments, they are also governed by volunteer boards elected by their membership. Credit unions don't answer to stockholders, but to each of their 96 million members.
- Credit unions invest in people by helping those who have been traditionally underserved by banks. Groups like seniors on fixed incomes, single working moms, minority communities needing greater community investment, and small business owners struggling to raise capital all rely on credit unions for important financial services atreasonable costs.
THE MOVEMENT CONTINUES
The roar of frustration with banks may seem like it's quieting, but a new survey suggests consumers are continuing to question their allegiances to their banking institutions. More of those consumers are turning to credit unions for their personal finance needs.
According to the 2013-2014 National Member and Nonmember Survey from the Credit Union National Association (CUNA), 57 percent of credit union members indicate they are extremely likely to recommend their credit union to friends. In contrast, just 40 percent of members who also use banks say they're equally as likely to recommend that institution to friends.