Don't Tax My Credit Union

With new tax legislation on the way, the credit union movement is urging Congress to recognize the importance of our tax status for the health of our industry. We need your support to spread this message! As not-for-profit financial cooperatives, credit unions do not pay federal corporate income tax on profits. Our member-owned structure focuses on serving our members—not generating profits for shareholders like traditional banks do. Our tax-exempt status is essential to our mission, and here’s why: 

Lower Fees and Better Rates          

Because we aren’t burdened by federal income taxes, we can pass those savings directly to you. This enables us to offer competitive interest rates on loans and savings accounts, as well as lower fees than for-profit financial institutions. 

Commitment to Community Financial Wellbeing                                                                            

Our non-profit status reflects our dedication to helping our members achieve their financial aspirations. Instead of prioritizing profit, we focus on delivering personalized service, creating member-centric products and services, and supporting your long-term financial health. 

Strengthening Our Community   

By supporting our tax-exempt status, you are also contributing to the well-being of the local community. Credit unions, including Great Erie, invest in programs and initiatives that have a positive impact on our surroundings. 

Imposing a new tax on not-for-profit credit unions would stifle competition and bolster profits for big banks. It doesn’t make sense to tax individuals like you simply for choosing to keep your money in a credit union instead of a bank. 

Help us stand up for your credit union and the millions of families across the nation that rely on them. Your voice matters. Elected officials listen when they hear from constituents like you. 

Take Action

Together, we can create a stronger and more financially secure future for everyone.