Leagues engage with media and members

Along with the nearly 800,000 messages to members of Congress from credit union advocates, leagues and credit unions are putting the “Don’t Tax My Credit Union” message out through both broadcast and social media.

A recent story by ABC7 featured the California Credit Union League and Eagle Community Credit Union,  f sharing what the credit union tax status means to communities in California and nationwide.

"If our credit union tax-exemption would go away, that would be devastating to the industry," said Stephanie Cuevas, a spokesperson for the California Credit Union League. “Right now we have a model where there's for profit banks and not for profit credit unions, that creates competition. Take away the tax exemption, now credit unions are saying, 'How are we going to balance our books?’”

Eagle Community Credit Union CEO Michael Kim shared how changing the tax would have a “significant impact” on how it does business, especially in service to underserved communities left behind by banks. Eagle Community Credit Union CEO Michael Kim shared how changing the credit union tax status would have a “significant impact” on how it does business, especially in service to underserved communities left behind by banks.

“We provide very similar products and services as a traditional bank," he said. "But unlike a bank that has shareholders and investors, our member owners are the owners of the credit union, and everything we earn in terms of profits or earnings goes back into our credit union.”

The Hawaii Credit Union League invited member credit unions to share their support for the tax status during its recent convention. The league set up cameras and signs at its advocacy booth and encouraged member credit unions to talk about why people love credit unions, what they do in local communities, and why their tax status should not be changed.

“We wanted to capture the many faces and voices that showcase the diversity of credit union work in Hawaii. Words are powerful but even better when you can see the people share their message passionately,” said Hawaii Credit Union League Governmental Affairs Director Paula Sumimoto-Matsushima. “Threats are coming at all levels so collaging the rich content from our statewide convention was the perfect opportunity to showcase Hawaii’s credit union advocacy and all voices matter. The attendees had a blast knowing they were supporting credit union advocacy and their voices mattered.”