WASHINGTON--Through daily messages to the Senate as part of the Don’t Tax My Credit Union Week of Action, America’s Credit Unions is reinforcing how credit unions reinvest their earnings back into their members and the communities they serve.
As CUToday.info has reported, the Senate is aiming to vote on its version of the budget reconciliation bill before the July 4 recess.
Tuesday's messages highlighted how the government’s investment in credit unions pays off for Main Street and hard-working American families, ACU explained.
In 2024, credit unions delivered $38 billion in financial benefits to all consumers—credit union members and bank customers alike—representing a 1,200% annual rate of return. The message sent directly to Senate staff links to an independent study on the economic impact of the credit union tax status, as well as a Real Clear Policy op-ed written by ACU President/CEO Jim Nussle.
On Wednesday ACU sent a mass email to all Capitol Hill offices highlighting how credit unions make a tangible difference in their members’ lives.
The email featured a video message focused on how Mazuma Credit Union based in Overland Park, Kansas helped one member save their family home. "This local story underscores why we’ve found that 89% of members say their credit union improves their financial well-being," ACU said. The email outreach also stressed that supporting credit unions means supporting:
- 142 million Americans
- $38 billion-plus in consumer financial benefits
- $297 billion in economic impact
The Senate Finance Committee’s early draft of its reconciliation language secures the credit union tax status, but the complete bill is still pending. The Don’t Tax My Credit Union Week of Action, a focused grassroots outreach effort, keeps the credit union difference top of mind as the reconciliation package goes into its final stages in the Senate.