Message to Senate: Credit unions are committed to their community

Credit unions have a steadfast commitment to their community and a people-first structure, in contrast to banks who close branches and create banking deserts.

This message, with the data to back it up, was delivered to Senate staff Wednesday as part of America’s Credit Unions’ daily outreach as the Senate works on their version of the One Big Beautiful Bill (H.R. 1). The information shared each day highlights the immense value of the credit union difference on senators’ constituents across the country.

While banks have closed more than 20,000 branches since 2012, credit unions opened 562 branches during that time. The credit union industry is responsible for 36% of cured banking deserts in communities left behind by banks.

The message also links to an independent study on the economic impact of the credit union tax status, which includes more than $35 billion in annual benefits to members and non-members.  

The Senate Finance Committee’s early draft of its reconciliation language secures the credit union tax status. The complete bill text is expected in the coming days, with the Senate aiming to vote on the bill by the July 4 recess.  

A Don’t Tax My Credit Union Week of Action begins next week. Activate credit union staff, boards, and members to contact senators via the Don’t Tax My Credit Union website.