CCUA Leadership on Protecting Credit Union Tax Status

A bipartisan group of 36 House members sent a letter to House Ways and Means Committee leaders on Friday, urging them to protect the credit union tax status. These legislators highlighted credit unions’ critical role in supporting families, farmers, and small businesses, emphasizing our cooperative structure, member-centric focus, and commitment to local lending. The letter, led by Representatives Juan Ciscomani (R-AZ) and Seth Magaziner (D-RI), was signed by 20 Republicans and 16 Democrats—demonstrating strong bipartisan backing for credit unions.

While at America’s Credit Unions' Governmental Affairs Conference (GAC), CCUA’s advocacy team collaborated with America’s Credit Unions to secure a Democratic leader to champion the effort of protecting credit unions’ tax status. Representative Seth Magaziner, a longtime advocate for Rhode Island credit unions since his tenure as Rhode Island Treasurer, stepped up without hesitation. Recognizing the importance of this initiative, he and his team immediately took on a leadership role, advocating tirelessly for the credit union system as a whole.

Ron McLean, President/CEO of CCUA, emphasized the significance of this advocacy effort: “Protecting the credit union tax status is essential to preserving the benefits we provide to millions of members across the country. We are grateful for the leadership of Representative Magaziner and the bipartisan support from lawmakers who recognize the value of credit unions in their communities.”

CCUA and America’s Credit Unions continue to encourage credit unions to mobilize staff, boards, and members to contact their elected officials in support of maintaining the tax exemption. The Don’t Tax My Credit Union campaign has already generated more than 323,000 messages to Congress, reinforcing the importance of our movement.