Protection of the credit union tax status—and its value for American consumers—was among the topics addressed during Royal CU’s meeting Thursday with Rep. Ron Kind (D-Wis.).
“We use every opportunity to talk to lawmakers about the credit union tax status,” said Brandon Riechers, president/CEO of the Eau Claire, Wis.-based credit union. “In our meeting with Rep. Kind, who serves on the House Ways and Means Committee, we thanked him for his continued support of our tax status and pointed out the ways it helps us create a positive impact in the lives of our members.
“We are able to offer low interest loans, high deposit rates and a robust financial education program," Riechers said. “It’s important for credit union leaders to remind lawmakers about the credit union difference every chance they get.”
Specifically, CUNA and the leagues believes the credit union tax status should be preserved because:
During the meeting, Riechers and Royal’s management team also discussed data security and thanked Kind for his support of the Credit Union Loan Parity Act.
CUNA is urging credit unions to connect with their elected officials over the August recess to discuss important issues including reg relief and the credit union tax status. CUNA’s Campaign for Common-Sense Regulation website features instructions on scheduling and hosting in-district meetings with lawmakers