Tax Reform

10/16/2013

 
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CUNA's Donovan says: 'Table Is Set' For Tax Reform
Credit unions' membership numbers give them a tremendous advantage over their political opponents, aka the banks, said Credit Union National Association Senior Vice President Ryan Donovan Thursday, but only if federal lawmakers believe credit unions can bring their members to speak up on their behalf.

"Lawmakers take notice when they hear credit union Click to view larger image Credit Union National Association's Ryan Donovan says now is the time for credit unions to ask their members to contact federal lawmakers in support of the credit union tax status.  Read More

Tax Reform

10/9/2013

 
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Newest 'Don't Tax' Rally Draws 9,000 CU Advocates To Website
The response to last Wednesday's online Don't Tax my Credit Union rally was outstanding, "and we urge credit unions to keep up this up-tempo advocacy activity going forward," Credit Union National Association Senior Vice President of Political Affairs Richard Gose commented.

Overall, 9,000 unique visitors logged on to the Credit Union National Association's www.DontTaxMyCreditUnion.org site. Seventy percent of these hits came from first-time visitors. Many more viewed the rally on TheHill.com's online event stream, and the stream received public play in office conference rooms across the country.  Read More


CUNA Watching Budget Talks For Tax Impact
While the pace of business in Washington, D.C. has slowed to a crawl as a result of the massive furloughs of federal workers, the U.S. Congress continues to work--by and large on budget issues. In fact, National Public Radio this morning noted that few, if any, members of the House and Senate have furloughed staff.  Read More

 

Oct. 2 Is Virtual Rally On 'Don't Tax My CU'

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A national virtual rally--where credit union members and advocates from across the country will light up social media in support of the "Don't Tax My Credit Union" campaign via Twitter and Facebook--has been announced by the Credit Union National Association for Wednesday, Oct. 2.

There will be an accompanying physical rally at Credit Union House in Washington, D.C., between 2 p.m. and 3 p.m. (ET), and that event will be live streamed at www.DontTaxMyCreditUnion.org and on The Hill newspaper website.

CUNA is expecting tens of thousands of supporters to be in virtual attendance. Read More

 
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Credit Unions Push Against Banks Via CUNA's 'Don't Tax' Message
Credit unions are pushing back against banks' taxation arguments by using the Credit Union National Association's "Don't Tax My Credit Union" message in media, in tweets, and in visits with members of Congress.

Tweets to members of Congress through CUNA's plug-in tool at DTMCU.org, which was launched on Don't Tax Tuesday II, Sept. 10, have totaled 12,000, including the 5,000 messages tweeted that day by credit union members and credit unions that day.
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Don't let Bank of America kill the credit union!  
~Fighting for people over profits

Bad feelings over the bailouts and extraordinary bank fees have driven millions of Americans into the arms of local credit unions. But instead of luring them back with better customer service, Big Banks are using their lobbying might to kill off credit unions, attempting to destroy a crucial tax exemption that credit unions need to survive.  Read More


Big Banks Start Campaign to Destroy Credit Unions
The Move Your Money project was born out of the Occupy Wall Street movement, which began in September 2011. The impetus was the announcement by Bank of America that they were going to impose a $5 dollar monthly fee for debit card users. On November 5, 2011, customers were to close their accounts at major banks and open new ones in community banks or in credit unions.  Already infuriated by Wall Street’s recklessness leading to the 2008 financial collapse, the idea caught on like wildfire across the nation.  Read More
 
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Rep. Perlmutter States Support Of CUs And Tax Status
After working closely the past month with the congressman, the Mountain West Credit Union Association announced Wednesday that U.S. Rep. Ed Perlmutter (D-Colo.) has issued a public statement of support for credit unions and their tax status.

"Congressman Perlmutter has always had a vision for empowering credit unions with the ability to serve our members and communities," said MWCUA President/CEO Scott Earl. "He clearly understands the difference in the way financial institutions are structured, and how credit unions are an important part of the economic structure of their local communities. We are honored to have a strong financial champion for consumers in our congressional delegation."  Read More

Don't Tax Tuesday

9/11/2013

 
Why do we engage in social media for advocacy efforts?  Because it is a powerful tool!
  • More than 5,000 tweets and 600 Facebook posts were made yesterday – with more than 4,800 specifically aimed at the Twitter accounts of Members of Congress.  This is more than double our results from the first #DontTaxTuesday campaign in July.
  • More than 1 million Twitter users were potentially exposed to the #DontTaxMyCU campaign yesterday – bringing our campaign total to more than 3 million social media users (Facebook and Twitter).
  • Our www.DontTaxMyCreditUnion.org website saw more than 69,000 page views yesterday, nearly seven (7) times our daily average.  Seventy percent (70%) of the nearly 23,000 unique visitors were first time visitors to the site—credit union members newly engaged in our campaign.
  • Even though our focus yesterday was on social media, we still had another 8,000+ contacts delivered to the Hill the “old-fashioned” way – via email.

Some stories from CUNA News Now on the topic:
 
You may have heard rumblings about the credit union tax exemption being up for debate yet again. It’s a debate we’ve seen before and a cause we’ve defended before. Unfortunately, the so-called controversy never really left us. Time and again, banks have tried to use the argument that credit unions are unfairly benefiting from their exemption from federal corporate income tax.  Read more
 
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Innovative 'Don't Tax' Efforts To Build Support In Congress
Credit unions were working hard in their districts to convince lawmakers to support the credit unions' tax status as part of the national "Don't Tax My Credit Union" campaign. Efforts were paying off, with more congressional delegates committing to preserving the corporate income tax-exempt status of credit unions.  Read More


 
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Credit Union of Colorado teller Rebecca Dominguez helps a customer at the central Denver branch at 1390 Logan St. (Denver Post file photo)
More than one in four Coloradans is a member of a credit union, the major alternative to commercial banks. They’ve had that choice for more than 80 years, since the Rio Grande Operating Credit Union, the oldest in our state, opened its doors in June 1931.

But that choice may be threatened as a result of congressional debate in Washington. The banking industry and its friends in Congress are considering stripping credit unions of their status as non-profit organizations as part of a broader tax reform package.  READ MORE