The Value of Credit Unions
- Credit Unions are not-for-profit cooperatives - like ag and electric coops.
- Governed by a volunteer board, elected by and from the members, who are passionate about preserving access to member-centric financial services to its members.
- Prohibited from raising capital from outside sources.
- Do not have stockholders. Instead, profits are returned to the members of the Credit Union through more affordable rates, lower fees, and modern technology allowing credit unions to serve members regardless of financial profile.
- Locally owned and operated with each member having an equal vote.
- Credit Unions give back to the communities they serve.
America's Credit Unions Policy Priorities
As a result of a merger between the Credit Union National Association and the National Association of Federally-Insured Credit Unions on January 1, 2023, America's Credit Unions makes sure policymakers and regulators know why credit unions are the best financial services choice for Americans. This merger became a historic opportunity for credit union advocacy at both federal and state levels to advance the industry into the future with a powerful and unified voice.
America's Credit Unions makes sure policymakers and regulators know why credit unions are the best financial services choice for Americans.
- Preserve the Credit Union Tax Status so credit unions can continue to serve those customers who would be left behind by other financial institutions.
- Protect Consumers’ Affordable Access to Credit Cards
- Empower Consumers to Manage Their Finances
- Modernize the Federal and State Laws and Regulations
- Right-size Regulations for Credit Unions
A tax on credit unions is a tax on me.
Credit unions are different than banks. As not-for-profit financial institutions, credit unions put members first, not stockholders. That’s why more than 140 million Americans choose credit unions as their trusted financial partner.
From no and low-fee accounts and financial counseling to better interest rates on affordable loans and more, credit unions are here to help people achieve their best financial lives.
Use our Grassroots Action Center to tell your elected officials that the credit union tax status has nothing to do with asset size and everything to do with your member-focused mission. Activate your staff, board, and members using the Member Activation Program. Tell members of Congress that the people they represent did not sign up for a tax increase, no matter how much the banks want to see it.
Credit Unions show their value everyday as not-for-profit financial cooperatives to their members and communities. Don't tax my credit union.
Reach out to My Representative.