New Jersey credit union advocates, under the leadership of their state league, reminded lawmakers of the value the credit union tax status creates for consumers and the U.S. economy during meetings with lawmakers last week.
New Jersey credit unions met with Reps. Donald Norcross (D) and Frank LoBiondo (R) last week.
“We also put the credit union tax exemption into context,” New Jersey Credit Union League (NJCUL) President/CEO David Frankl told CUNA News Daily. “Beyond our mission and good public policy, we noted that the credit union recovery didn’t cost the U.S. Treasury one cent, versus the costs borne by the taxpayer to bail out the banks.”
Specifically, CUNA and the leagues believes the credit union tax status should be preserved because:
August marks the longest congressional recess of the calendar year—the longest stretch during which members of Congress will be at home in their districts meeting with constituents.
NJCUL is making the most of the long recess. The league has also scheduled meetings with Reps. Leonard Lance (R), Frank Pallone (D) and Bonnie Watson Coleman (D) and has meeting requests in with other members of the state's delegation.
CUNA’s Campaign for Common-Sense Regulation website houses step-by-step instructions on how to schedule and host branch visits with lawmakers.