Make the credit union voice heard on Election Day!

The founding of our country shares parallels to the founding of credit unions: a group of people, in pursuit of a better life, banding together to do just that. While political rhetoric can pit people against one another, we must stay focused on what truly matters. Our cooperative mindset brings us together, whatever the election results, to advance our industry and country.

Election season always reinvigorates my passion for the credit union movement. Because just as our founding came from necessity—a response to adversity—many of our cooperative principles are rooted in democratic values. Just as credit union members get a say in how their institution is run, we as citizens each get a vote in the direction of our country.

As a former elected official, I know that election night can bring both highs and lows. As someone engaged in the political process from a different angle these days, I’m still invested in the results and the power of making our voice heard.

Our vote is our voice, and it’s important that we exercise it.

A lot is up in the air this year. We could see the House and Senate simultaneously switch control—making it the first time in history both chambers flipped to the opposite party in the same election. Increasing federal debt and expiring tax cuts mean many kinds of funding sources could be on the table when lawmakers start diving into legislative priorities.

Even with all that potential change and uncertainty, our priority for next year is clear: defending the credit union tax status. In reality, this is always our legislative priority, but it is elevated when tax policy is a focus of Congress. And we’ve recently witnessed that not all lawmakers understand how the credit union tax exemption works.

The tax exemption is an integral part of credit unions’ structure, allowing them to meet their “people helping people” mission. We know that it provides $35 billion in benefits to members and nonmembers annually. We know that without it, credit unions wouldn’t exist.

It’s imperative that we do all we can to protect it.

There are 438 U.S. Representatives on the ballot today, in addition to the U.S. Senators, state governors, other state and local officials, and ballot measures. At every level, these elections are important. You only have to look at the Illinois Interchange Fee Prohibition Act as the latest example of state legislation voted into law that would have a tremendous impact on the entire payments ecosystem nationwide. Similar efforts to pass interchange bills in Pennsylvania and Massachusetts weren’t successful, but more states are likely to try in this next session. And county, city, and school leaders tend to closely impact your day-to-day life more than what’s happening in Washington, D.C., so as a voter, I urge you to take that responsibility seriously.

I hope you’ve got your “I voted” sticker already, or you’ve got a plan to get to the polls. Encourage your friends, family and credit union coworkers to do the same.

Make your voice heard this election. Because when it’s done, we’ll come together to make your members and your communities stronger.