ICBA released a new video distinguishing taxpaying community banks from tax-exempt credit unions.
Mission Creep: The 90-second video notes that while community banks are fully invested in their local communities, credit unions have strayed from their founding mission to become growth-obsessed institutions that use their tax exemption to acquire community banks.
Call to Action: The video urges Americans to ask their members of Congress to call for hearings on how credit unions are taxed and regulated.
Ad Campaign: Shorter versions of the video will be used in the coming weeks for a social media marketing campaign targeting consumers and policymakers. It follows an ICBA print and digital ad campaign earlier this fall that called on members of Congress in key states to investigate the credit union tax exemption and its impact on acquisitions.
Grassroots: Community bankers can continue urging Congress to hold hearings on credit union acquisitions via a customizable message to lawmakers on ICBA’s Wake Up page and its Wake Up Messaging Playbook.