NAFCU touts CU priorities to Congress

Following up on a letter sent to House and Senate leaders at the start of the 116th Congress, NAFCU Vice President of Legislative Affairs Brad Thaler on Tuesday further expanded on the details of the association’s 2019 priorities, including action items to achieve them.

Thaler sent letters to Senate Majority Leader Mitch McConnell, R-Ky., and Senate Minority Leader Chuck Schumer, D-N.Y.; and House Speaker Nancy Pelosi, D-Calif., and House Minority Leader Kevin McCarthy, R-Calif., that were copied to their respective chambers.

Ensuring an environment that allows credit unions to grow and thrive is a leading priority of NAFCU, and Thaler outlined these action items in that area:

• Preserving the credit union tax exemption. NAFCU has long defended the industry’s tax status and the association’s advocacy was featured in this Wall Street Journal article. An independent study commissioned by NAFCU found the credit union tax exemption provides a $16 billion per year benefit to the U.S. economy and allows credit unions to offer better loan and deposit rates to consumers.

 

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