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.

Read the report

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

NCUA board meeting today on subordinated debt

Dec 17, 2020 | NewsWatch Today Article
The National Credit Union Administration board is scheduled to meet at 10 a.m. (Eastern time) today to vote on an ICBA-opposed final rule allowing credit unions to issue subordinated debt as an alternative form of capital.

Credit union acquisitions demand hearing: ICBA

Oct 8, 2020 | NewsWatch Today Article
Credit union acquisitions of community banks represent an "obscene" use of taxpayer subsidies and should be reviewed by Congress, ICBA's Paul Merski told Banking Dive.

Op-ed notes rising credit union acquisitions in the Midwest

Aug 14, 2020 | NewsWatch Today Article
The recent purchase of West End Bank by 3Rivers Federal Credit Union last month, is part of a disturbing trend of large, billion-dollar credit unions buying small community banks, writes Thomas Aiello of the National Taxpayers Union.
Title Recipient Date
U.S. Congress 02/09/21
117th Congress 02/01/21
Committee on Finance 01/15/21
Senate Committee on Small Business & Entrepreneurship 01/15/21
Senate, House leaders 12/11/20
Title Recipient Date
FDIC, OCC 02/12/21
NCUA 02/10/21
Sec. Janet Yellen 02/08/21
CFPB 02/05/21
OCC, Fed and FDIC 02/01/21