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Westerra Credit Union

Don't Let Congress Tax Our Credit Unions

Thank you to all our members who told legislators Don’t Tax My Credit Union!  
Your messages made a difference!

·       In late February 2014, the House Ways & Means Committee released its first draft of tax reform legislation – without a mention of taxing credit unions.   

·       It had been reported last spring that Congress was considering removing all exemptions—including the credit union tax exemption—in rewriting the tax code, despite the fact credit unions are not-for-profit and have been tax-exempt since our inception in the early 1900s.

·       Credit unions immediately launched the Don’t Tax My Credit Union campaign which generated    1.3 million contacts to legislators from credit union members.

·       The campaign helped convey the message that any tax on credit unions is really a tax on its members since credit unions are cooperatively owned by the people they serve. Loss of the tax exemption would mean higher loan rates, lower dividends and more fees.

Please continue to monitor this issue at as big banks and their lobbyists continue to try to eliminate credit unions as their competition.  We have won this round; but, the fight continues.

Colorado's credit unions deserve to keep their non-profit status
The Denver Post featured an article by C. Alan Peppers, President/CEO of Westerra Credit Union.
Read the full article

A Message From Our Chairman - I am writing with an important message about the future of our credit union and credit unions nationwide.  Read more.