Be a voice for your awesome credit union.
We know you know credit unions are awesome. (After all, as a member, you’re part owner of one!) But here are some facts that maybe you don’t know:
- Credit unions save Iowans $100 million annually in better rates and fewer fees. (Wowza!)
- There are 1.1 million credit union members in Iowa.
- Credit unions have a $1.25 billion economic impact on the state economy.
- Credit unions continue to pay millions in taxes each year, including state monies and credits tax, payroll tax, sales tax and property tax.
Every once in a while (more often than we’d like!), the Iowa legislature is asked to consider a bill that is, shall we say, unfriendly to credit unions. There are a few ways that you (yep, YOU!) can have a positive impact on the future of credit unions. As a member/owner of your credit union, you can:
- Stay up-to-date on current issues facing credit unions. (This is a great place to start!)
- Contact your state legislators to encourage them to support credit-union-friendly legislation. (Not sure who your legislators are? Find out at www.legis.iowa.gov.)
- Donate to the Credit Union Political Action Committee (CUPAC), the voice for credit unions on Capitol Hill.
- Spread the good word about credit unions to family, friends, coworkers, and, well, gee, everyone you know! (Get started with this handy flyer.)
Republicans in the Iowa Senate recently passed a tax reform bill (Senate File 2383) which will raise taxes on Iowa credit unions, while also providing banks a 48% tax cut worth $18 million. The language in SF 2383 is supported by the banking industry, whose ultimate goal is to eliminate competition and consumer choice. We’re opposed to this bill — a tax increase on our credit unions is a tax increase on you, our member-owners!
We urge you to reach out to your legislators in the House and let them know that you oppose this tax increase… and they should oppose it, too! The Iowa Credit Union League has made it very easy for you to take action. All you have to do is enter your information and then personalize a prepared email message. It’ll only take a few minutes, but it will make a big impact.
Visit www.ProtectFinancialChoice.com for more info on important policy issues affecting your credit union.
The Credit Union Political Action Committee (CUPAC) is the voice for credit unions on Capitol Hill. CUPAC talks to legislators on a regular basis, educating them on issues of importance to credit unions and their members. They are our advocates, and we urge you to support their efforts.