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.

It is long past time for policymakers to wake up to the new realities of the credit union industry for the sake of our nation’s consumers and economic well-being. This is not the time to press snooze.

Read the latest white paper

Urge Congress to Wake Up

Credit unions do not pay federal income tax, do not pay rent on military bases, have little to no oversight and abuse industries and customers alike.

This letter asks your members of Congress to WAKE UP and address the ridiculous lack of oversight and substantial and unfair competitive advantage taxpayer-subsidized credit unions enjoy.

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.

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Credit Union Merger White Paper

Credit Unions Across America

See how credit unions have abandoned their original mandate and how in doing so they've failed the communities they're supposed to serve.

See how their actions affect the USA and your state

Credit Unions and Taxes

The Congressional Budget Office, Treasury Department and Joint Committee on Taxation all state that credit unions escape paying nearly $2B in taxes every year. As good and responsible stewards of their communities, community banks contributed nearly $15B in tax revenue in 2018.

Find out more

White Paper-Credit Unions Avoid Billions in Taxes Every Year

Articles & Press Releases

Credit union groups mixed on CRA-lite

Recently reintroduced Senate legislation to codify community outreach policies for community credit unions is getting a mixed reception from credit union industry groups.

The Bill: The American Housing and Economic Mobility Act would require institutions seeking a community credit union designation to submit business plans to the National Credit Union Administration. It would also retain the credit union industry’s exemption from Community Reinvestment Act oversight.

Industry Response: The Credit Union National Association endorsed the bill—noting previous versions would have applied CRA to credit unions. The National Association of Federally-Insured Credit Unions opposes the bill, citing increased regulatory burdens.

ICBA Position: ICBA supports increased regulatory parity between community banks and credit unions—including applying CRA to the tax-exempt entities.

More: ICBA this week issued a customizable op-ed that community bankers can use to raise awareness of credit union acquisitions of community banks. It follows a similar American Banker op-ed by ICBA President and CEO Rebeca Romero Rainey.

Title Recipient Date
California Legislature 04/21/21
Rep. Andy Barr 04/19/21
U.S. House of Representatives 04/16/21
117th Congress 04/14/21
Committee on Small Business & Entrepreneurship 04/12/21