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News Now

Washington
CU Tax Advocacy Gets Capitol Hill Coverage
WASHINGTON (6/7/13)--The Credit Union National Association, state leagues and credit union supporters nationwide continue to fight to preserve the credit union tax exemption, and these advocacy efforts this week received broad coverage in Washington political paper The Hill.

The credit union tax status is one of many items being discussed as tax reform debates continue in the U.S. Congress, and The Hill reached out to many parties impacted by these discussions for its piece. Members of congress have said they are taking a so-called "blank sheet approach" to tax reform, theoretically removing all current exemptions from the code and adding exemptions back into the code after their merits have been considered.

CUNA Senior Vice President of Legislative Affairs Ryan Donovan said this kind of process changes the question that credit unions have to answer. Credit unions now need to explain why their tax exemption should exist, rather than simply demonstrate why their tax exemption is useful, he said.

To ensure credit unions are heard as these congressional discussions are held, CUNA has encouraged the more than 96 million credit union members nationwide to present a unified message to members of congress: Don't Tax My Credit Union! These efforts have led to more than 30,000 congressional contacts since CUNA and the leagues kicked off the large-scale, nationwide grassroots-mobilization campaign in mid-May.

Paul Gentile, CUNA executive vice president of strategic communications, said The Hill piece shows that credit union advocacy activity is being recognized in Washington. The story also reinforces that credit unions are just one of many groups trying to ensure their tax status remains intact. "It's good validation for members who may be wondering why we are going all out," Gentile said.

CUNA has created a new web site, DontTaxMyCreditUnion.org, a new Facebook page, a Twitter handle @CUNAadvocacy, and hashtag, #DontTaxMyCU, and a reformatted version of CUNA's tax advocacy tool kit to help credit unions and their members spread this message.

For the full story and more tax advocacy resources, use the links.
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