WASHINGTON--For more than 100 years, credit unions have focused on serving Main Street America by prioritizing people, not profits. America’s Credit Unions shared that message with House members as part of ongoing outreach in advance of a potential floor vote this week on the budget reconciliation package.
The message shared how data shows that credit unions make around 90% of their loans to households, while banks make most of their loans to big business. It also provided Hill staff with a link to more information about the credit union difference, including data demonstrating how credit unions help those left behind by banks, especially in tough economies.
As CUToday.info reported, the credit union tax status was preserved in the bill as drafted in the House Ways and Means Committee.