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

ICBA campaign targeting credit union tax exemption

Mar 9, 2022 | NewsWatch Today
ICBA is running a targeted digital campaign encouraging congressional offices to press credit unions on acquisitions of community banks and other key issues.

ICBA Urges Congress to Ask Credit Union Representatives About Tax Exemption

Mar 1, 2022 | Press Release
With representatives from tax-exempt credit unions in Washington this week for meetings with congressional offices, the Independent Community Bankers of America (ICBA) is calling on lawmakers to ask tough questions about the credit union tax exemption.

Taxpayer group continues push for credit union transparency

Feb 9, 2022 | NewsWatch Today
The National Taxpayers Union encouraged key congressional committees to consider whether credit unions should continue to be exempt from filing Form 990 returns, which most tax-exempt organizations are required to file annually.

Credit union debt offering bolsters oversight push

Feb 2, 2022 | NewsWatch Today
A new rule that allows private institutional investors to exploit credit union tax subsidies is yet another reason for Congress to investigate credit union policies, ICBA President and CEO Rebeca Romero Rainey wrote this week in a new op-ed.

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

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

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