Nussle: The time is now to engage with ‘Don’t Tax My Credit Union’ campaign

With the tax bill currently being drafted and a potential House Ways and Means Committee markup the week of May 12, “We’re at go time,” said America’s Credit Unions President/CEO Jim Nussle  during a members-only webinar covering the latest on the credit union tax battle.

Planning for the current tax fight goes all the way back to the 2017 enactment of the Tax Cuts and Jobs Act, which contained an eight-year expiration date for many tax cuts. Leading up to this year, Nussle said America’s Credit Unions, leagues, and system partners have been planning the campaign in earnest since last summer, projecting potential election scenarios to support credit union champions, and then engaging with Congress and the administration to start the year.

“Whether you had been in Congress for decades, or you’re a brand-new freshman, on swearing-in day, each and every member was inundated with information about the credit union difference, and the analysis to back that up,” Nussle said.

In addition to the meetings with members of Congress, the Don’t Tax My Credit Union campaign has led to more than 550,000 messages in support of the tax status sent to Congress, all with the idea of ensuring members know taxing credit unions would be a tax increase on more than 140 million Americans.

“If you haven’t engaged yet, it’s not too late, but now is definitely the time. It will be too late if you wait much longer, that much is certain,” Nussle added.

“There are so many ways to amplify our message, whether a postcard, email, phone call, coming to GAC and hiking the hill, hosting an in-district meeting, all of these efforts are extremely helpful in making sure that the credit union difference is being heard,” said America’s Credit Unions Chief Advocacy Officer Carrie Hunt during the webinar, pointing to the many resources available on the Don’t Tax My Credit Union site. 

Patrick Conway, president/CEO of the CrossState Credit Union Association and chair of the American Association of Credit Union Leagues, also spoke on the call, calling this tax battle a “defining moment” for the entire credit union system, and one that the credit union system is capable of winning.

“Leagues have close relationships with their Congressional delegations, all over the country, we’re close with our credit unions, and we’re close with our lawmakers, so we can really bring those relationships to our national advocacy efforts at times when it really matters like this,” he said. “League advocacy is alive and well, and I think is as impactful as ever. Every credit union story shared, every lawmaker engaged, and every advocate activated is making a difference.”

CrossState and other leagues have established grassroots action networks, launched a hub for advocacy resources, and connected with House Ways and Means members in D.C. and their home districts. 

Caroline Willard, Cornerstone League President/CEO, spoke on the call and noted that the chairs of almost every House committee that covers credit union-related business, Financial Services, Ways and Means, Appropriations, and Budget, come from states covered by Cornerstone.

“We’ve taken that responsibility very seriously, because engagement and messaging to those folks in particular, is critical. We’ve engaged those leaders, making sure they understand the credit union difference,” she said. “An example is running an op-ed in House Ways and Means Chairman Smith’s district, talking about how credit unions serve working Missourians, a term he uses. We’re using his language to tell the story of why credit union members cannot lose the critical asset they have in their communities. We have an extraordinary responsibility to win this fight.”

Nussle added that while the organization, leagues, and credit unions are engaging with members of key tax-writing committees, it’s essential to ensure all members of Congress know the power of the credit union difference.

The webinar also addressed a few questions about the status of the NCUA after the dismissal of NCUA board members Todd Harper and Tanya Otsuka. America’s Credit Unions is reviewing the lawsuit filed Monday by the two seeking reinstatement, and its advocacy committee will continue to meet to discuss potential issues and scenarios going forward.