Action Alert: Tell Congress “Don’t Tax My Credit Union”
At Coastal Credit Union, we are committed to keeping you informed about important issues that impact our ability to serve you, including a critical issue on Capitol Hill that requires your immediate attention.
There is a movement in Congress, supported by Wall Street lobbyists and politicians, aiming to tax credit unions. This proposed tax would directly affect every Coastal member and the 140 million other Americans who choose credit unions as their financial partners.
We urge you to act today by contacting your U.S. Representative and Senators through the Carolinas Credit Union League’s easy-to-use Action Center. Your voice is crucial in protecting Coastal members and millions of families across the country who rely on credit unions.
Why is this important?
- Credit unions, as not-for-profit financial cooperatives, are exempt from paying federal corporate income tax on profits.
- Our member-owned structure allows us to return earnings to you through more affordable loans, better dividends on savings, fewer and lower fees, member rewards, and investments into branches, technology, and community.
- This proposed tax threatens our ability to serve you, and the future of smaller credit unions is in jeopardy.
- Taxing credit unions ultimately means taxing people like you who choose to keep their money in a credit union instead of a bank.
All of us at Coastal are united in helping our members succeed financially. This effort on Capitol Hill puts our mission and our members at risk. Your voice and action are vital. Together, we will be heard.