Not Just Another Impact Report…

Every year, we publish the Michigan Credit Union Impact Report to highlight the ways our state credit unions put people over profit. But for 2025, we did something a little different. We designed a report around the current “Don’t Tax My Credit Union” tax status messaging, because this year isn’t just about showcasing our impact — it’s about defending the very foundation that makes our impact possible.

2025 Michigan Credit Union Impact Report

This publication is designed ahead of the America’s Credit Unions GAC so the advocacy team and I can bring it to DC as a tool to better inform our lawmakers of the impact our movement has on their constituents. But this isn’t just for the GAC. This is a report that Michigan credit unions should use throughout the year to help us get our message across to key decision makers. Whether it's at Hike the Hill, legislative breakfasts, in-district office hours or other advocacy events, this is a resource that can help you sharpen your messaging.

Look for us in DC sporting our new tees as we Hike the Hill to protect the credit union tax status!

Lawmakers need more than just passion from us. They need stories and facts — data that directly connects to their constituents' financial realities and makes the case for why credit unions, as currently constituted, are essential.  We know credit unions have not always been great about telling their story. This impact report can help. Over 170 of you are helping by hiking the Hill with us next month in DC to tell your story. 

This year’s Impact Report is packed with stats that set out why messing with our tax status would be detrimental. We’ve captured data behind intangibles, such as our outstanding trust rate. Did you know that 91% of members trust their credit union compared to 84% of bank customers? That’s a big deal! And it’s a number we need to lean into, because it doesn’t just speak to the confidence credit union members have in their institution, it illustrates something unique about our core. 

Consumers are attracted to our unique not-for-profit structure, which directly benefits members rather than shareholders. In fact, as you can read about in this report, banks paid $4 billion to shareholders over the last decade. Imagine if that money had been treated like credit union earnings and went back into consumers’ pockets instead?

The real bottom line is that a tax on credit unions is a direct tax on members who already carry a substantial tax burden. In Michigan alone last year, Michigan credit union members paid an estimated $86.9 billion in state and federal taxes. Adding further financial burdens on consumers is irresponsible. Further, it will keep our movement from delivering the immense community impact that we measure in this report, whether it’s the financial education numbers, CDFI lending or Community Enrichment Grants.

Basically, for the 2025 Impact Report, we tried to take the foundational basics about credit unions — things that you and I know all too well — and articulate them in a way that will help translate our movement’s importance to legislators.

We need to get the message across that a change to our tax status would ultimately fail the consumers that rely on us, leaving lower- and middle-income Americans with alternative products that they can no longer afford.

For those joining us at the 2025 GAC next month, there will be an opportunity to explore these issues further at the session, "Don't Tax My Credit Union: Messaging & Strategy." I’ve gotten a sneak peek at some of what they’re covering in the session and can say that there will be plenty of eye-opening data revealed. Specifically, survey-based stats that tell us more about our members and how we need to refine both our advocacy and our general consumer outreach if we want to capitalize on the work we do everyday. It’s not to be missed.

Download the 2025 Michigan Credit Union Impact Report here.

Thanks for reading.

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