Message to Congress: Credit unions focus on Main Street

For more than 100 years, credit unions have focused on serving Main Street America by prioritizing people, not profits. America’s Credit Unions shared this message with House members Tuesday as part of ongoing outreach in advance of a potential floor vote this week on the budget reconciliation package.

The message shared how data shows that credit unions make around 90% of their loans to households, while banks make most of their loans to big business. It also provided Hill staff with a link to more information about the credit union difference, including data demonstrating how credit unions help those left behind by banks, especially in tough economies.

Following a comprehensive grassroots campaign sending more than 830,000 “Don’t Tax My Credit Union!” messages to Congress, the credit union tax status was secured in the bill as drafted in the House Ways and Means Committee. As the bill continues through the legislative process towards a House floor vote, advocacy outreach is also ongoing. Together with grassroots emails sent by individuals, these daily emails from America’s Credit Unions to Hill staff encourage no changes in the bill regarding the credit union tax status. 

Monday’s message focused on a majority of Americans supporting the credit union tax status and credit unions providing safe, affordable financial services to those left behind by for-profit banks.

The handout and other resources are available on America’s Credit Unions’ website and the Don’t Tax My Credit Union website, including a social media toolkit to share your credit union impact stories. Credit union advocates are encouraged to contact members of Congress to urge continued support and thanks.

America’s Credit Unions encourages credit union CEOs to sign an open letter by close of business Wednesday, May 21, and it will be delivered to all House members before a floor vote.