Tax Advocacy Spotlight: Credit Union Tax Exemption Gets Cooperative Support

As of Aug. 5, NW credit unions have produced over 28,000 contacts, 13,700 in Oregon and 14,416 in Washington. We want to recognize the following credit unions who are leading the way in our states:


Oregon
Oregon Community CU
2,575 contacts + 508 signatures via petition
3083
OSU FCU 1911

Unitus Community CU
1,127 contacts + 761 signatures via petition

1888
Advantis CU 1823
   
Washington
Gesa CU 4283
Sound CU
891 contacts + 1,151 signatures via petition
2042
Red Canoe CU 1467
BECU 835

The credit union movement’s efforts to preserve the tax exemption that helped to provide nearly $8 billion in benefits to consumers last year got a boost from the National Cooperative Business Association (NCBA).

The NCBA sent letters to all members of the House Ways and Means, and Senate Finance Committees encouraging that they maintain the credit union tax exemption. The committee members are key decision makers in the tax reform process that is likely to eliminate at least some tax exemptions in an effort to offset the federal deficit.

Meanwhile, as of Aug. 5, 28,000 congressional contacts had been filed by Northwest credit union advocates, according to Jennifer Wagner, vice president of legislative advocacy for the Northwest Credit Union Association (NWCUA). “These contacts are making a difference,” Wagner noted, adding that 14,416 of the messages came from Washington and 13,700 were filed by Oregon credit union contacts. Most of the contacts were made directly through the Credit Union National Association’s (CUNA) Don’t Tax my Credit Union website although many of the credit unions also posted in-branch petitions signed by thousands of members.

Wagner noted the opportunity to connect personally with Members of Congress during the August recess.

“They will be out and about, at Rotary meetings, Chamber events, and Town Halls. Make a point to attend an event in your community and introduce yourself to the Member, reminding them that we need their help protecting the credit union tax exemption.”

Wagner said the need for sustained contact with Congress is important because the process could continue through 2014 and beyond.

The NWCUA has scheduled a “Tweet Tuesday” event for Aug. 13, calling on credit unions to tweet their house members. District–specific sample messages are posted on the NWCUA’s “Truth Speaks” website, making it convenient for credit union advocates to paste messages into their Twitter sites.

In addition, the Truth Speaks marketing calendar suggests calls to the representatives’ home offices during the peak of the recess, the week of Aug. 19. Sample messages are included on the site.

“Credit unions in the Northwest have answered the call to engage and make their voices heard,” said Wagner. “Keep up the great work.”

 

Questions? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in Advocacy News.