Credit union tax status unaddressed in subcommittee tax reform hearing

by America's Credit Unions

The credit union tax status was not mentioned during a Senate Banking Subcommittee on Economic Policy’s hearing on the effects of tax reform Wednesday. America’s

Credit Unions wrote to the committee for the hearing’s record, highlighting the many benefits of the credit union tax status, and engaged with committee members in advance and after the hearing.

America’s Credit Unions President/CEO Jim Nussle shared with the committee how the Federal Credit Union Act is an “unparalleled success” with data showing the tax status brings an approximate 1,400% return on its estimated “cost,” $35 billion in annual financial benefits to members and non-members.

 

continue reading »