STATEMENT on Budget Reconciliation Package Heading To President’s Desk from America's Credit Unions

July 3, 2025

America's Credit Unions President/CEO Jim Nussle issued the following statement following the final passage in the US House Thursday of H.R. 1:

“Thank you to the U.S. Senate and House of Representatives for recognizing the immense value credit unions provide to communities all across the country by securing the credit union tax status. This is a major victory for the 142 million Americans who rely on credit unions, small businesses, and the credit union industry as this bill allows these community-first institutions to continue serving Main Street America. We thank our credit union champions in Congress, as well as the dedication of our state leagues and credit union members who contributed messages, letters, opinion pieces, and most importantly their time, to emphasize the credit union difference. America’s Credit Unions will continue to advocate for stronger American communities and financial resources that help consumers reach their American Dream.” – Jim Nussle, America’s Credit Unions President/CEO

Through the Don't Tax My Credit Union campaign, which began laying the groundwork with lawmakers during swearing-in events in January, America's Credit Unions, leagues, and credit unions have:

  • Met with Senate Finance Committee Chairman Mike Crapo and Republican committee members;
  • Met with every Republican member of the House Ways & Means Committee, including Chairman Jason Smith several times;
  • Met with the White House National Economic Council, Office of Management and Budget, and Treasury Department (6x);
  • Met with Senate Majority Leader John Thune, Speaker of the House Mike Johnson, House Majority Leader Steve Scalise, House Financial Services Committee Chairman French Hill;
  • Contacted all 535 Congressional offices with key data on the credit union difference;
  • Generated more than 861,000 grassroots letters directly to lawmakers; and
  • Launched digital ad campaign targeting key tax writers and congressional leaders that has generated over 139 million ad impressions and engaged over 191,000 activists.