Credit unions delivered $38B boost to the economy in 2024

Through daily messages to the Senate as part of the Don’t Tax My Credit Union Week of Action, America’s Credit Unions is reinforcing how credit unions reinvest their earnings back into their members and the communities they serve. The Senate is aiming to vote on its version of the budget reconciliation bill before the July 4 recess. 
   
Tuesday’s message highlighted how the government’s investment in credit unions pays off for Main Street and hard-working American families.  

In 2024, credit unions delivered $38 billion in financial benefits to all consumers—credit union members and bank customers alike—representing a 1,200% annual rate of return. The message sent directly to Senate staff links to an independent study on the economic impact of the credit union tax status, as well as a Real Clear Policy op-ed written by President/CEO Jim Nussle.  

The Senate Finance Committee’s early draft of its reconciliation language secures the credit union tax status, but the complete bill is still pending. The Don’t Tax My Credit Union Week of Action, a focused grassroots outreach effort, keeps the credit union difference top of mind as the reconciliation package goes into its final stages in the Senate.   

Learn more and access resources needed to participate in the Week of Action.