Congress is considering possible legislation to reform the U.S. tax code. They are considering a “blank piece of paper” approach—all exemptions would be removed and Congress would start from scratch to write a new tax code. If Congress goes down that road, all tax exemptions, including the credit union tax exemption, could be gone.
How does this impact you?
Taxing credit unions could destroy credit unions as we know them, eliminating financial choice for consumers. Any tax on credit unions is really a tax on its members since credit unions are cooperatively owned by the people they serve. This would mean higher loan rates, lower dividends and more fees. Benefits to members and communities would be lost, and a consumer-friendly option in the financial marketplace would vanish.
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 Full Articlethe full article
Go to take action to contact your U.S. Senators and Representative. Tell them "Don't Tax My Credit Union." We must ensure our voice is heard loud and clear on Capitol Hill.
A Message From Our Chairman - I am writing with an urgent message about the future of our credit union and credit unions nationwide. Read more.