Wake Up and Take Action

The Independent Community Bankers of America and the nation's community banks are calling on policymakers and the public to “Wake Up” to the risky practices, costly tax subsidies, and irresponsibly lax oversight of the nation’s credit unions.

It is long past time for policymakers to wake up to the new realities of the credit union industry for the sake of our nation’s consumers and economic well-being. This is not the time to press snooze.

Read the latest white paper

Urge Congress to Wake Up

Credit unions do not pay federal income tax, do not pay rent on military bases, have little to no oversight and abuse industries and customers alike.

This letter asks your members of Congress to WAKE UP and address the ridiculous lack of oversight and substantial and unfair competitive advantage taxpayer-subsidized credit unions enjoy.

Credit Unions and
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Credit Union Merger White Paper

Because of their tax advantage and relaxed field of membership regulations, credit unions have begun to acquire community banks in order to fuel their growth. This trend should concern taxpayers.

Read the report

Credit Union Merger White Paper

Credit Unions Across America

See how credit unions have abandoned their original mandate and how in doing so they've failed the communities they're supposed to serve.

See how their actions affect the USA and your state. 

Credit Unions and Taxes

The Congressional Budget Office, Treasury Department and Joint Committee on Taxation all state that credit unions escape paying nearly $2B in taxes every year. As good and responsible stewards of their communities, community banks contributed nearly $15B in tax revenue in 2018.

Find out more

White Paper-Credit Unions Avoid Billions in Taxes Every Year

Make Your Voice Heard

The National Credit Union Administration is proposing to create a new rule that would prescribe the procedures for federally-insured credit union (“FICU”) acquisitions of banks and would create new, explicit requirements on all assets acquired from a bank. NCUA is accepting comments until March 30, 2020. To comment, visit www.regulations.gov and follow the instructions for submission.

Read ICBA’s Summary of the Proposal

Articles & Press Releases

ICBA Applauds National Taxpayers Union Call for Credit Union Hearings

Feb 19, 2020 | Press Release
The Independent Community Bankers of America applauded the National Taxpayers Union for joining its call for Congressional oversight hearings in the face of mounting evidence suggesting credit unions have outgrown their tax-exempt status.

ICBA Seeks Hearings on Surging Credit Union Acquisitions

Jan 29, 2020 | Press Release
The Independent Community Bankers of America today called on Congress to hold hearings on the surge in tax-exempt credit unions purchasing tax-paying community banks.

ICBA Request for Banking Committee Hearing on Credit Union Purchases of Community Banks

Jan 29, 2020 | Letters to Congress
On behalf of community banks across the country, with more than 50,000 locations, I write to call your attention to an emerging trend in the financial services industry: A surge in tax-exempt credit union purchases of tax-paying community banks accelerating the broader trend of industry consolidation.

Letters to Congress

U.S. House Committee on Armed Services July 20, 2020
116th Congress July 16, 2020
Sen. John Thune July 15, 2020
Committee on Small Business & Entrepreneurship July 9, 2020
Subcommittee on Defense, House Committee on Appropriations July 8, 2020

Letters to Regulators

CFPB August 10, 2020
Treasury Department, SBA August 7, 2020
OCC August 4, 2020
CFPB July 31, 2020
OCC July 29, 2020