Together, we protected the credit union federal tax exemption during a time when the threat level was as high as we’ve experienced in decades. America’s Credit Unions, the Leagues, and member Credit Unions rolled up their sleeves and got to work educating lawmakers and their staffs on the credit union difference and the importance of the credit union tax status to communities across Nebraska.
Over 5,000 Nebraska credit union advocates communicated directly with their Congressman and Nebraska’s two U.S. Senators urging them, “Don’t tax my credit union!” The League and credit union advocates began ramping up their advocacy last fall knowing that the tax cuts in the 2017 Tax Cuts and Jobs Act would be expiring in 2025. “We knew that no matter which party won the Presidential election or control of Congress, taxes would be a top issue in 2025, so it was incumbent upon us to get in front of the issue with our elected representatives,” said Brandon Luetkenhaus, President/CEO of the League. “Frankly, it’s our consistency in advocacy that will win the day. it’s never too early or too often to talk about the credit union difference and the tremendous value that credit unions bring to communities across Nebraska,” said Luetkenhaus.
The House and Senate both passed their reconciliation bills, and the final legislation was signed by President Trump on July 4th without any changes to the credit union tax exemption. According to America’s Credit Unions, there were 861,000 messages sent to lawmakers, more than 1,000 meetings, and 139 million ad impressions from a digital ad campaign that targeted tax writers, committee members and congressional leaders.
