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.

Access the Playbook

Credit union groups mixed on CRA-lite

Apr 28, 2021 | NewsWatch Today
Recently reintroduced Senate legislation to codify community outreach policies for community credit unions is getting a mixed reception from credit union industry groups.

Taxpayer group urges credit union reforms

Apr 22, 2021 | NewsWatch Today
Congress should examine how the tax code is contributing to acquisitions of taxpaying community banks by tax-exempt credit unions, the National Taxpayers Union wrote in a new op-ed.

Credit union hearing push intensifies

Apr 5, 2021 | NewsWatch Today
ICBA is encouraging community bankers to call on Congress to hold hearings on credit union acquisitions of taxpaying community banks.

ICBA urges hearings following major credit union acquisition

Apr 2, 2021 | NewsWatch Today
Following the announcement of the largest-ever credit union purchase of a community bank, ICBA renewed its call for policymakers to investigate credit union acquisitions of community banks.

HOW CREDIT UNION'S TAX-EXEMPT STATUS AFFECTS YOUR STATE

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

Charts

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

 

in federal income taxes.

House

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.

People

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

Title Type Size

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