- United States
- Utah
- Letter
Don’t tax my credit union
To: Rep. Kennedy
From: A constituent in Sandy, UT
May 3
I’ve been a proud member of my credit union for over 20 years. It’s more than just a bank — it’s a trusted, member-owned, not-for-profit institution that puts people first.
Credit unions provide better rates, lower fees, and real economic benefits — not just to members, but to entire communities. A recent study showed credit unions contributed $234.6 billion in value to U.S. consumers over 10 years, including non-members.
Big banks, which already receive billions in tax breaks, are pushing to raise taxes on credit unions. But removing the credit union tax exemption would harm working families, cut GDP by $266 billion, and cost over 800,000 jobs in the next decade.
Credit unions hold less than 9% of all financial assets. They’re not too big — just effective. Taxing them would be a tax on me and my community.
Please protect credit unions. Don’t tax us for choosing a financial partner that works.