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

Credit union debt offering bolsters need for oversight: op-ed

Feb 1, 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 writes in a new op-ed.

Joint Trades Statement on CFPB Request for Information on Fees

Jan 26, 2022 | Press Release
The following statement was issued by the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Credit Union National Association, Financial Services Forum, Independent Community Bankers of America, National Association of Federally-Insured Credit Unions and National Bankers Association today after the CFPB announced a new Request for Information on fees.

CFPB announces settlement on consumer task force

Jan 18, 2022 | NewsWatch Today
The Consumer Financial Protection Bureau settled a lawsuit alleging that its Taskforce on Federal Consumer Financial Law did not comply with the Federal Advisory Committee Act.

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

Archived Resources