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The Credit Union's Tax-Exempt Status

The Credit Union's Tax-Exempt Status


What it is, Why it matters, and What you can do to help

As a credit union, we're a special type of financial institution. Member-owned and operated for the benefit of the community, credit unions don't have the same profit incentives as banks. We look out for our members-not some far-away shareholders!

Because credit unions reinvest our profits in member benefits, we are both non-profit and tax-exempt. This special status allows us to help small businesses and working families with lower interest rates on loans and higher interest rates on savings accounts.

Big bank lobbyists in Washington are threatening credit unions' tax-exempt status, arguing that taxing credit unions will help the economy. Don't be fooled. It won't help the economy, but it will help... you guessed it... big banks! Taxing credit unions will hurt the 96 million Americans who are members- and the countless small businesses who count on us for help.

Learn more about the importance of keeping credit unions tax-exempt. Get the facts.

Resources

  • Don't Tax My Credit Union. "Don't Tax My Credit Union" is a national campaign dedicated to ensuring that Congress doesn't raise taxes on credit unions and our 96 million members. Visit the site to share your story, get involved on social media and tell Congress and big bank lobbyists lay off!
  • Facebook.com/MyBCU. Our Facebook page keeps you up to date on what's happening at BCU. Like BCU on Facebook to learn what's new at the Credit Union. Check back often for money-saving tips, contests (hello prizes!) and events.
  • Why It's Time to Take A New Look at Credit Unions. Love them or hate them (we're on the love side!), credit unions may bring a specific image to mind - but is it accurate? Get the facts. With tools like Online Banking , mobile apps, and Deposit Anywhere, we're a pretty techy savvy bunch! We're not your parents' – or grandparents' – credit union!
  • 10 Common Credit Union Myths. Credit unions have been helping members for decades, but they are still a mystery to many. Get the truth and bust some myths about credit unions' tax status and more.
  • 7 Ways Credit Unions Are Better Than Banks. Only seven?! We know you can think of a lot more, but this is a great place to start. Have an eighth, ninth, or tenth reason? Share the love on our Facebook page.