WASHINGTON—The Defense Credit Union Council has launched a targeted advertising campaign to defend credit unions’ tax-exempt status.
The effort takes a unique approach, targeting bankers who are in the nation’s capital this week attending the American Bankers Association’s annual Washington Summit.
Funded by DCUC’s Defending Credit Unions National Advocacy Fund, the campaign reaffirms credit unions' important role in providing accessible, affordable financial services—particularly for military members, veterans, and their families, DCUC said.
The ad specifically highlights how eliminating the credit union tax status would severely limit the ability of credit unions to meet the unique financial needs of the military community. From managing finances during deployments and frequent relocations to accessing fair loans, building financial literacy, and protecting against predatory practices, service members, veterans, and their families face distinct challenges that credit unions are uniquely positioned to address.
“Defense credit unions are more than just not-for-profit financial institutions—they are mission-driven partners in the financial well-being of those who serve our country,” said Anthony Hernandez, DCUC president and CEO. “As Congress considers changes to tax policy, we must urge lawmakers to recognize the far-reaching and unintended consequences of taxing credit unions. This is not just a matter of dollars and cents—it’s about maintaining access to vital services for the very people who defend our nation. Undermining this critical exemption would shift the balance in our financial system and harm the communities we should be striving to protect.”
Jason Stverak, DCUC chief advocacy officer, said DCUC will leave “no stone unturned” in its efforts to protect the credit union tax status.
“Whether it is a member of Congress on their iPad, a staffer on their iPhone, or an attendee at the ABA meeting, we're going to reach out to them through digital advertising to help educate them and provide the full story on the impacts of changing the credit union tax status.”