PORTLAND, Maine (12/26/13)--Maine credit unions--like others throughout the country--are taking a brief holiday break after four months of consistent advocacy efforts in the Credit Union National Association's and the state leagues' nationwide "Don't Tax My Credit Union" campaign to preserve credit unions' tax status, but they aren't letting their guard down.
This week, shopping, eating, and visiting with family and friends are providing a respite from the tax issues. In noting the pause, the Maine Credit Union League said that credit union members in the state have generated 39,763 contacts the past four months on behalf of the Don't Tax efforts, placing them No. 9 among the states in total contacts (Weekly Update Dec. 20).
A comprehensive bill probably will be released after the first of the year, according to CUNA. Then, the nation's credit unions may have a better idea of Congress' intent regarding tax reform.
Meanwhile, bankers across the country are keeping the pressure on, pushing toward taxing credit unions, said league Director of Governmental Affairs Quincy Hentzel. "It is clear that their strategy is to attack credit unions on as many fronts as possible," she said. "Any opening they can create in a state could have a domino effect to threaten credit unions' tax status in other states and at the federal level," she added.
"We need to remain vigilant on this issue and continue to educate our members of the incredible value they receive as member-owners of their credit union," Hentzel told credit unions in the article. "However, we want to be sensitive in regard to all you have done and continue to do and are being careful as to not have our credit unions fatigued so early on in this fight."
In the meantime, the league said it is important that the tax status issue remains visible to members and that credit unions should keep up posters, Web banners and more.
"We are expecting this to be a lengthy campaign and will be prepared to resume it in the New Year," said League President John Murphy.