Protect Your Credit Union. Protect Your Wallet.
As a not-for-profit, member-owned credit union, Accentra exists to serve people—not shareholders. But some in Congress want to change that by taxing credit unions. That could mean fewer services, higher loan rates, and more fees for members like you.
We believe that’s wrong—and we’re not alone.
Why credit unions are needed
Credit unions got their start in the U.S. when banks refused to serve working Americans. They provided a needed alternative so families, farmers, small business owners, and others left behind by banks had financial options.
For more than 100 years, people have come together to be a part of credit unions, not-for-profit financial cooperatives, and support each other through tough financial times.
Congress recognized the importance of the credit union movement and provided credit unions with the federal income tax status to ensure they continued to meet the needs of underserved people and communities. Credit unions pay billions in state and local taxes each year. The only exception is the federal income tax on profits. And that’s because those profits are returned to you.
More and more people across the country are joining you in choosing to belong to a credit union because they witness the power and benefits of the credit union movement to strengthen the financial well-being of individuals and communities.
Even as the credit union movement has grown, it remains a small but vital part of the financial landscape: Credit unions serve 43% of all Americans, but hold only 8.8% of assets in financial institutions, a clear indication of efforts to help people build their savings and improve their finances. The remaining 91.2% of Americans’ assets are held by banks.
But that hasn’t stopped banks’ greed and desire to eliminate any competition. That’s why they want Congress to eliminate the credit union federal income tax status.
What's At Stake
The new Congress and administration are moving fast on tax reform, which could mean adding a new tax on credit unions and on the members they serve, including you. We must act now to ensure lawmakers understand that a new tax on credit unions is a tax increase on more than 140 million Americans.
Join the Movement
Credit union members across the country are standing up and saying: Don’t Tax My Credit Union.
Learn more about the issue and contact your lawmakers here: www.donttaxmycreditunion.org
Why It Matters:
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Credit unions return earnings to members through better rates and fewer fees
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Taxing us is like taxing YOU, the member
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Credit unions are vital for financial inclusion and local economic growth
Want to get involved?
...or use the link above to contact Congress today.