When autocomplete results are available use up and down arrows to review and enter to select.
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.
March 29, 2021
While ICBA last week submitted its comment letter urging the National Credit Union Administration to withdraw a proposal on credit union services organizations, community banks can still submit comment letters after the agency extended the deadline 30 days.
Details: The NCUA proposal would allow these corporate entities owned by credit unions to make any type of loan permitted for federal credit unions—even though they are not supervised by the agency and are exempt from Federal Credit Union Act consumer protections.
Background: CUSOs are owned by credit unions but are not mutually owned, member owned, required to serve credit union members, or overseen by credit union laws and regulations. Instead, they're privately owned and often for-profit businesses.
Taking Action: ICBA's Be Heard action center makes it easy for community banks to urge the NCUA to withdraw the proposal to avoid further eroding the credit union industry's tax-exempt mission.
Find your state
Nurses paid:
Cashiers paid:
Teachers paid:
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.
