Unified strength of entire movement secured credit union tax status

Credit unions are unified, prepared, and deeply committed to protecting the communities they serve, as seen in the industry’s successful, wide-ranging tax advocacy strategy. In a Credit Union Times op-ed published Thursday, America’s Credit Unions President/CEO Jim Nussle emphasized the power of unity between America’s Credit Unions, leagues, and credit unions in the effort to secure the credit union tax status.

“In the largest industry mobilization effort in over a decade, the ‘Don’t Tax My Credit Union’ campaign coordinated by America’s Credit Unions and our League partners generated more than 861,000 letters to lawmakers. These direct appeals reminded Congress that Americans depend on their credit union for affordable financial services, fair lending practices and a community focus that big banks can’t match.”

The 2024 elections and swearing-in day for the 119th Congress turned into a coordinated campaign to engage all 535 congressional offices, with a focus on members of tax-writing committees.

“Capitol Hill was just one front. We also shaped the narrative,” Nussle wrote. “Collaborating with leagues, credit union leaders and members across the country, we placed dozens of op-eds and letters to the editor in key national, local and trade publications.”

The grassroots campaign reached its peak just before House consideration of the bill in May, followed by a Week of Action before Senate consideration of H.R. 1. An open letter signed by more than 750 credit union CEOs in support of the tax status was sent directly to Congress, urging continued vigilance from policymakers.

“Thanks to relentless outreach and data-driven collateral, lawmakers now understand: Taxing credit unions is bad policy and worse politics. In an era of division, the credit union industry has shown what’s possible when people come together around shared values and a common goal. Our work isn’t finished, but the results speak for themselves,” Nussle wrote. “We showed up. We spoke out. And we protected the credit union difference – together.”

Read the full op-ed here.