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.

Learn how the tax-exempt status of credit unions affects your state with our state-by-reports and gain key messaging guidance through the Wake Up Messaging Playbook.

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ICBA: Congress needs to examine credit union-community bank acquisitions

Aug 4, 2021 | NewsWatch Today
ICBA urged the Senate Banking Committee to re-examine the anti-competitive effect from the surge in credit union acquisitions of taxpaying community banks and the permissive oversight of the National Credit Union Administration.

ICBA Proposes Exit Fee on Credit Union Acquisitions of Taxpaying Banks

Jul 7, 2021 | Press Release
The Independent Community Bankers of America (ICBA) today urged the Treasury Department to examine abuses of the tax code causing increased acquisitions of community banks by tax-exempt credit unions.

Credit union acquisition pressure grows

Jul 6, 2021 | NewsWatch Today
Congress is under increasing pressure to investigate credit union acquisitions of community banks, ICBA President and CEO Rebeca Romero Rainey wrote in a recent article on LinkedIn.

As Credit Union-Bank Acquisitions Accelerate, ICBA Urges Congressional Hearings

Jun 18, 2021 | Press Release
The Independent Community Bankers of America today reinforced its call for Congress to investigate tax-exempt credit unions acquiring taxpaying community banks following a resurgence in interstate acquisitions.


These state-by-state reports show how credit unions have exceeded their original mandate and how that unchecked growth has negatively affected local communities across every state.

See the report for all of the United States

Find your state


Credit unions in your state used their tax exemption to avoid paying


in federal income taxes.


In 2020, credit unions across your state held a grand total of


in tax-free assets.

Money Bags

Even as local businesses struggled, credit unions in your state used


of their tax subsidy on nonmember expenses.


In your state credit unions paid $0 in federal income tax. Meanwhile,

Nurses paid:      
Cashiers paid:  
Teachers paid:  
Wake Up Messaging Playbook

Wake Up Messaging Playbook

Find out how community bankers can more effectively advocate for a level tax and regulatory playing field between tax-exempt credit unions and the community banking industry. Access your playbook today. You must be a member to access this content.

Read the Report

Credit Union Merger White Paper

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

Exempt White Paper

Do They Know They're Tax Exempt?

If credit unions cannot abide by their original mandate deserving of a tax subsidy, then taxpayers are financing an unequal playing field that leaves behind the financially underserved, cheats federal and state tax authorities, and unfairly disadvantages legitimate for-profit institutions like community banks.

Find out more

Archived Resources