A Tax On Your Credit Union Is A Tax On You!


Tuesday, September 3, 2013

As Congress continues to explore possible tax reform initiatives, thousands of Maine credit union members continue to contact Maine's Congressional Delegation with a simple message: "Don't Tax My Credit Union!"  According to the Maine Credit Union League, the 'Don't Tax My Credit Union' Campaign is in full swing, and consumers are urged to participate.

"Consumers benefit from credit unions, whether you are a member or not, because credit unions provide a valuable alternative to other financial institutions.  A tax on credit unions is a tax on consumers," stated John Murphy, President of the Maine Credit Union League.  Many credit unions across the state are participating in the 'Don't Tax My Credit Union' Campaign and reaching out to members encouraging them to participate by contacting Congress.  "As not-for-profit, financial cooperatives, credit unions exist to serve their members.  It's that simple - the structure of credit unions is different from other financial institutions and that is why credit unions are tax exempt and why the tax exemption makes sense.  At credit unions, the member owners are who the credit union is responsible to and that is much different from any other financial institution," Murphy noted.

Take action now by clicking here.