It’s Time to Speak Up
If you haven’t talked with your team, board and members about the fight to preserve our credit union tax status, I have to ask: what are you waiting for?
This is the moment for us to act. We can’t wait til later this summer and we can’t wait to see what happens in Congress. If we want to protect what makes credit unions different, we need to do this now.
Bankers are stirring things up again in Washington, arguing that our growth and ability to serve more people somehow undermines the intent of our not-for-profit model. And once again, we find ourselves in a moment where the credit union movement needs to be loud, unified and absolutely clear: Our not-for-profit tax status is not up for negotiation. Bankers are hiking the hill this week!
This isn’t about asset size. It’s about mission. Our tax status isn’t a loophole — it’s what allows us to reinvest in members instead of shareholders, to serve Main Street instead of Wall Street. And when lawmakers hear from us, they need to know the truth behind the noise: credit unions serve more than 140 million Americans, 6 million of whom are here in Michigan, and we’re here to fight for them.
That fight starts at home…with each of us.
Begin by bringing this conversation to your team. Make sure your board understands what’s at stake. And invite your members to be part of the effort to preserve the credit union difference. We need every credit union in Michigan activated and making this a priority. Because if we don’t, we risk losing one of the most foundational pieces of what makes us different and effective.
This isn’t the first time you’ve heard me say it, and as credit unions know better than anyone, if our tax status were to change, it wouldn’t just hurt our institutions. It would hurt the very people we exist to serve. We’re talking about working families, veterans, teachers, first responders and small business owners. The people who rely on us every day — who turn to us for fair rates, guidance and access when others say no — would be the ones paying the price if our tax status were taken away.
The banks want you to ignore that. But we won’t.
We’ve created a “Don’t Tax My Credit Union” Resource Hub to help you speak up and take action. It includes a downloadable summary and talking points to deepen your understanding of the issue and support clear communication with your team, board and members. You’ll also find tools that make it simple to contact Congress directly and add your voice to our growing, unified message.
|
Actions you can take immediately:
|
America’s Credit Unions has also made postcards available that members can sign right in the branch. Some credit unions have already collected thousands. And these stacks of postcards are a compelling statement that tells Congress, These are real people who count on their credit union and expect their lawmakers to protect it. You can find those cards in their Member Activation Program.
So, please: talk to your team, activate your board, make sure this issue is visible in your credit union. Remind your members that they have a voice and that now is the time to use it.
Because if we don’t speak up now, someone else will speak for us. And we know how that story goes.
Let’s be loud. Let’s be unified. Let’s get to work.
As we rally to protect the structure that allows us to serve, we’re also showing what that service looks like in action. Following the devastating ice storms in Northern Michigan, the Michigan credit union movement has come together to support those directly affected. The Michigan Credit Union Foundation has launched a relief fund to support impacted members, and credit unions across the state are coming together to support those who need it most right now.
Find more info on the fund here: MCUF Ice Storm Relief Fund.
« Return to "Patty's Desk"
