Credit unions in Missouri are urged to make contact with federal lawmakers regarding the credit union federal income tax status, as bankers ramp up their efforts to call for credit union taxation. Letters from the Independent Community Bankers Association (ICBA) and the American Bankers Association (ABA) were distributed on Capitol Hill on June 20 and June 21, respectively. The ICBA letter calls for Congress to hold committee hearings on credit union tax exemptions, and offers to provide banker witnesses to testify on credit unions. The ABA letter, written to President Barack Obama, the Secretary of the Treasury and the Director of the National Economic Council demands an end to the credit union tax status.
Credit union leaders – including staff, volunteers and members – are asked to step up and voice the “Don’t Tax My Credit Union” message.
“Don’t let bankers misrepresent credit unions to Congress,” says Don Cohenour, Missouri Credit Union Association president/CEO. “Our lawmakers need to hear from credit unions directly and learn the truth.”
Visit www.DontTaxMyCreditUnion.org and click on the “Take Action” link. A wide variety of tools and resources are available in CUNA’s Tax Advocacy Toolkit and MCUA’s Credit Union Advocates to assist with engaging and activating membership.
Credit unions across Missouri are already reaching out to their members and urging lawmaker contact in a variety of ways. Many are taking to their websites, Facebook pages and Twitter feeds. Here are just a few examples showing how Arsenal Credit Union (Arnold), BluCurrent Credit Union (Springfield), CommunityAmerica Credit Union (Kansas City), and St. Louis Community Credit Union are reaching out to their members to ask for their help in contacting lawmakers. Another example is Mazuma Credit Union's (Kansas City) placement of this Don't Tax My Credit Union image and campaign links on its website.
“It is imperative that we keep our members updated on what their legislators are doing to impact the future viability of credit unions," says Brandon Michaels, president/CEO of Mazuma Credit Union. "Members should play a vital role in the political process because the decisions their legislators make may significantly transform the incredible value their credit union can provide. We have sent our membership two letters and I have heard nothing but positive things on our approach."
Credit unions with a positive credit union news story or that are engaging members in the Don’t Tax My Credit Union effort, are encouraged to share that information with MCUA at firstname.lastname@example.org. Include positive news stories in communications with lawmakers and via earned and social media. The national campaign uses the Twitter handle @CUNAadvocacy and #DontTaxMyCU, along with a CUNA Advocacy Facebook page. MCUA’s Credit Unions Advocates of Missouri resources include a Facebook page and Twitter feed (using the handle @CreditUnionsMO).
Contact Amy McLard at email@example.com or 314.542.1370 for more information or assistance.