Preserve Financial Choices for Consumers
As Congress considers comprehensive tax reform, the federal tax exemption for credit unions is under threat. Credit unions receive this exemption as not-for-profit, member-owned cooperatives. It allows credit unions to serve 96 million credit union members nationwide. And, it allows SAFE to serve locally-owned small businesses and more than 165,000 individuals while providing a real financial choice.
During the financial crisis, SAFE continued to lend to consumers, homebuyers, and small businesses. The ability to continue to provide credit during a crisis is one of the key reasons that credit unions were originally established by Congress as an alternative to banks and an option for consumers.
We encourage you to urge lawmakers to preserve the federal tax exemption credit unions when considering any final tax reform plan. Help preserve the consumer-friendly options SAFE and other credit unions offer our region.
We invite you to take a moment to inform your legislators how this important decision will personally affect you. The "Don't Tax My Credit Union" website has been developed as a resource for you to learn more about this significant issue and to take action.