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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.
April 22, 2021
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.
NTU Op-ed: On Townhall, NTU Director of Federal Affairs Thomas Aiello said the recent VyStar Credit Union acquisition is the latest indicator that credit unions have strayed from the mission justifying their tax exemption.
ICBA Op-ed: The op-ed follows last week’s American Banker op-ed from ICBA President and CEO Rebeca Romero Rainey urging Congress to hold hearings and request a GAO study on the evolution of the credit union industry.
Grassroots: Community bankers can use ICBA’s Be Heard grassroots center to urge Congress to hold hearings on credit union acquisitions and National Credit Union Administration oversight.
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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.
