Conway: Tax status is earned through service, advocacy
The credit union tax status left untouched in the House-passed and Senate Finance Committee’s section of the One Big Beautiful Bill (H.R. 1) is a testament to its enduring value and tireless advocacy to secure it, American Association of Credit Union Leagues Board Chair Patrick Conway wrote in CUInsight. Conway, who is also president/CEO of the CrossState Credit Union Association, shared how criticism of the tax status is a misguided narrative that misses the mark.
“The credit union tax status isn’t a handout—it’s a recognition of an economic model that delivers real, measurable benefits to members and communities across the nation,” he wrote, adding that members saw more than $27 billion in direct financial benefits last year alone, while non-members saw an additional $11 billion in benefits over the same time period.
Credit unions earn this status through more than dollars and cents, Conway noted. The industry earns it through continued advocacy from America’s Credit Unions, leagues, and credit unions speaking up loudly and persistently with a unified voice.
“The credit union difference isn’t a static achievement—it’s a living promise, renewed daily in every loan made, family helped, and community strengthened. The tax status that recognizes that difference is earned every day by credit unions putting their members before their bottom line,” he wrote.
