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With Congress considering legislation to reform the nation’s tax policy, ICBA called on policymakers to end unwarranted federal tax subsidies for the nation’s largest credit unions.
Details: Introduced by ICBA President and CEO Rebeca Romero Rainey at ICBA LIVE in Nashville, the new policy resolution calls on lawmakers to end the federal tax exemption for credit unions with $1 billion or more in assets or to establish tax parity between credit unions and tax-paying community banks.
Statement: “Eliminating the federal tax exemption for credit unions over $1 billion in assets will help ensure taxpayer dollars no longer tilt the competitive marketplace, subsidize community banking consolidation, and result in fewer choices for consumers and small businesses,” Romero Rainey said in a national news release.
ICBA Policy Resolutions: ICBA’s new policy resolution on credit unions is among its legislative and regulatory policy objectives for 2025. Developed and approved by ICBA volunteer community bankers, the resolutions will guide ICBA advocacy in the coming year and reflect its unique mission of creating and promoting an environment where community banks flourish.
More: Romero Rainey announced the new policy during her remarks at ICBA LIVE 2025, noting that ICBA advocacy amid record numbers of credit union acquisitions of community banks has elevated public scrutiny of credit union policies and practices.
Stay Tuned: Community bankers can continue following the convention today with the ICBA 2025 Mobile App and by following #ICBALIVE on social media.