Don't Tax My CU
Act now to save the credit union difference!
As a member of cPort Credit Union, you are a member of a not-for-profit financial cooperative that exists to serve you, while banks are for-profit and operate to make money for stockholders or creditors. Credit unions differ from banks and all other financial institutions in that, as a member, you are an equal owner to every other member of your credit union.
Now, some bankers and their trade associations are asking legislators to tax credit unions. The truth is, a tax hike on credit unions is a tax hike on all American consumers. Credit unions were created to provide financial services in a democratic, not-for-profit, cooperative manner—that is, with member ownership and control. Those characteristics are the foundation of why credit unions do not pay corporate income taxes. If credit unions paid income tax, the contribution to state and federal treasuries would make not one penny of difference in the taxes you pay as an individual. But the effect such taxes would have on how much you pay for credit union loans for cars, education, and houses, or the dividends you earn on credit union savings, would be significant. All taxpayers, whether members or not, benefit from the presence of credit unions in the marketplace.
Please take a moment to ask Congress to preserve credit unions’ tax status as part of tax reforms occurring now. Without our tax exempt status, credit unions would no longer be not-for-profit financial cooperatives that exist to serve you. Banks would like nothing more than to eliminate credit unions and make even more money at your expense.
Take Action Now! Visit DontTaxMyCreditUnion.org to send a pre-written email to your Member of Congress today, or call them toll-free at 877-642-4223. Simply tell them, "Don't Tax My Credit Union!"