Why this fight matters to every member

There's a saying in the credit union world: "Not for profit, not for charity, but for service." At University Credit Union (UCU), this isn't just a motto-it's our identity. We were founded to serve people who needed a better way to bank: university students, alumni, faculty, staff, and their families. People looking for fairness, honesty, and financial services that put people ahead of profits. 

That's why we're raising our voices, because right now, the future of credit unions is being questioned in Washington. And what may seem like a political debate about taxes is really a conversation about whether your credit union can continue to serve you the way it was intended to. 

Some lawmakers and special interest groups have revived an old argument: that credit unions should be taxed like for-profit banks. They claim we've outgrown our mission, that we've become "bank-like," and that our exemption from federal corporate income tax is unfair. Watch this video to learn more about the situation.

But here's what they leave out 

Credit unions like UCU do pay taxes. We pay property taxes, payroll taxes, sales taxes, and more. Our employees pay income taxes just like everyone else. The only exemption we have is from paying federal corporate income tax, and that exemption is intentional, granted by Congress in 1937 to recognize that credit unions exist to serve people, not shareholders. 

We are financial cooperatives, owned by our members. Every dollar of income we earn is returned to our members through lower loan rates, higher savings yields, personalized financial education, and community impact programs. We don't cut checks to Wall Street investors; we don't make decisions based on quarterly earnings; and we certainly don't exist to compete with banks…we exist to give people a better option. 

Removing our tax status would fundamentally change that. It would take dollars away from the very people we're here to serve-you, our members-and redirect them to Washington. It would make it harder for us to do what we do best: help you thrive financially. 

This issue isn't abstract or hypothetical. It's real, and it would directly impact every program, every service, and every member experience at UCU. 

Think about the last time we helped you refinance your auto loan to save money each month. Think about the first-time homebuyer who got into their new home with our help and guidance. Think about the campus workshops we've hosted on budgeting, credit building, or student loan repayment. Think about our commitment to one-on-one service, no matter how big or small your need. 

These are not extras, they're core to who we are. But if we were taxed like a for-profit bank, we'd have to start making choices. Fewer community programs. Higher loan rates. Fewer staff dedicated to financial wellness. Less investment in the tools and technologies that make banking easy and personal. 

In short, you would feel the difference. 

This debate also comes at a time when Americans are more financially stretched than ever. Students are graduating with more debt. Families are paying more for housing. Emergency savings are low, and financial stress is high. At a time like this, we should be expanding access to affordable, people-first financial services, not undermining the institutions that provide them. 

Credit unions were created to fill the gaps traditional banks often leave behind. That's as true today as it was during the Great Depression. Taxing credit unions isn't about fairness; it's about weakening one of the few financial models left that truly exists to serve people over profit. 

UCU serves thousands of members across California, Georgia, and Texas, but we're part of a larger movement. Credit unions nationwide are speaking up, and we're asking our members to do the same. 

What you can do for credit unions 

This isn't just our fight. It's yours, too. If you've ever benefited from lower loan rates, flexible service, or financial education from UCU, now's the time to help protect it. 

Please visit www.donttaxmycreditunion.org to learn more. The site makes it easy to send a message to your elected officials-letting them know that you value your credit union, and that you want to preserve its ability to serve people, not profits. 

It takes less than five minutes to make your voice heard, but it can have a lasting impact. When members speak together, policymakers listen. 

Don't let Congress rewrite the rules that make credit unions like UCU possible. Don't let a movement built on service be treated like a profit-driven corporation. And don't let your voice go unheard. 

Together, we can protect your credit union-and keep our mission alive.