WASHINGTON—The credit union tax status was not mentioned during a Senate Banking Subcommittee on Economic Policy’s hearing on the effects of tax reform this week, America’s Credit Unions reported.
ACU wrote to the committee for the hearing’s record, highlighting the benefits of the credit union tax status.
America’s Credit Unions President/CEO Jim Nussle shared with the committee how the Federal Credit Union Act is an “unparalleled success” with data showing the tax status brings an approximate 1,400% return on its estimated “cost,” $35 billion in annual financial benefits to members and non-members.”