As Congress considers comprehensive tax reform, some people think it’s a good idea to start taxing credit unions.
Credit unions are exempt from the federal income tax because they are not-for-profit and member-owned, member controlled. Credit unions offer lower interest rates on loans, lower fees, and higher returns on savings. If the tax exemption is ended, this will result in higher taxes for me and 96 million other credit union members.
A tax on credit unions is just another tax increase on 96 million Americans. Don’t tax my credit union!
Why is this important?
My Credit Union helps my community by giving back its profits. Don't let the IRS take away their not-for-profit tax status!
