Nussle responds to baseless banker attacks: credit unions are committed to supporting Main Street

April 23, 2025

America’s Credit Unions pushed back against Independent Community Bankers of America (ICBA) calls for taxation on credit unions based on size. It’s the latest in an ongoing effort by the ICBA to twist the facts when banks sell assets to credit unions.

President/CEO Jim Nussle responded to ICBA statements in CUToday.

"Bankers are once again distorting reality in their attempt to eliminate credit union competition and add a new tax on 142 million Americans who choose to be a credit union member. As we've reiterated multiple times: Banks choose to sell to credit unions—a sale that is approved by their shareholders—because of the local benefits such a sale provided,” pointed out Nussle. “More than four-fifths of bank asset sales to credit unions involved a low-income designated credit union, further contradicting bankers' claims that credit unions aren't focused on serving people who need affordable financial services the most. As they have for more than 100 years in the U.S., credit unions are committed to supporting Main Street and financial prosperity for all, and that's where their focus remains even as bankers try to pivot from matters that actually matter.”

America’s Credit Unions has resources – including handouts and research – available to credit unions and industry partners to combat the claims and highlight the credit union difference. The association amplified the facts on social media, and additional resources are available in the Resource Library.