League Joins Other Trades in Pushing Back Against Banker Attacks on Tax Exemption

Your League joined with other state leagues to push back against banker attacks on credit unions' tax exemption.

In a letter to the Senate and House tax policy committees, state leagues noted how much we "appreciate the support that your Committees have shown credit unions. There is no doubt that credit unions remain consumers’ and Main Street America’s best partner for safe, affordable financial services products. Our members ... are always willing to come tell the story of how they help Americans achieve financial stability and pursue their dreams."

As 6,000 credit union advocates gather in Washington this week, bankers are stepping up their attacks on our tax exemption by calling for Congressional hearings into our tax status.

"While banker attacks on our tax status are nothing new, it's critical we remain engaged with lawmakers on this issue, reminding them of why our tax status is as relevant today as it was 90 years ago," said JT Blau, chief advocacy officer for the Virginia League. "We must continue to tell our story, reminding lawmakers of our cooperative structure, our mutual purpose, and the benefits we bring to the marketplace."

This week, your League has scheduled meetings with every member of the Virginia Congressional delegation to discuss our legislative priorities, including the importance of credit unions' tax status.