Wake Up and Take Action

The Independent Community Bankers of America and the nation's community banks are calling on policymakers and the public to “Wake Up” to the risky practices, costly tax subsidies, and irresponsibly lax oversight of the nation’s credit unions.

Learn how the tax-exempt status of credit unions affects your state with our state-by-reports and gain key messaging guidance through the Wake Up Messaging Playbook.

Access the Playbook

Credit unions labeling themselves community banks: Romero Rainey

Oct 16, 2023 | NewsWatch Today
Community bankers have for years warned of the expansion of credit union powers, but Navy Federal Credit Union’s new “Community Bank” brand indicates credit unions recognize they’ve gone too far, ICBA President and CEO Rebeca Romero Rainey wrote in a recent LinkedIn post.

Credit unions now labeling themselves community banks: Romero Rainey

Oct 11, 2023 | NewsWatch Today
Community bankers have for years warned of the expansion of credit union powers, but Navy Federal Credit Union’s new “Community Bank” brand indicates credit unions recognize they’ve gone too far, ICBA President and CEO Rebeca Romero Rainey writes in a new LinkedIn post.

Credit union data reporting exemption covered in Politico

Oct 10, 2023 | NewsWatch Today
A new Politico column draws attention to the lack of regulatory transparency at tax-exempt credit unions, particularly their exemption from federal reporting requirements on overdraft fees.

HOW CREDIT UNION'S TAX-EXEMPT STATUS AFFECTS YOUR STATE

These state-by-state reports show how credit unions have exceeded their original mandate and how that unchecked growth has negatively affected local communities across every state.

See the Report for All of the USA

Find your state

Charts

Credit unions in your state used their tax exemption to avoid paying

 

in federal income taxes.

House

In 2022, credit unions across your state held a grand total of

 

in tax-free assets.

People

In your state credit unions paid $0 in federal income tax. Meanwhile,

Nurses paid:

Cashiers paid:

Teachers paid:

Wake Up Messaging Playbook

Wake Up Messaging Playbook

Find out how community bankers can more effectively advocate for a level tax and regulatory playing field between tax-exempt credit unions and the community banking industry. Access your playbook today. You must be a member to access this content.

Read the Report

Credit Union Merger White Paper

Credit Union Merger White Paper

Because of their tax advantage and relaxed field of membership regulations, credit unions have begun to acquire community banks in order to fuel their growth. This trend should concern taxpayers.

Read the report

Exempt White Paper

Do They Know They're Tax Exempt?

If credit unions cannot abide by their original mandate deserving of a tax subsidy, then taxpayers are financing an unequal playing field that leaves behind the financially underserved, cheats federal and state tax authorities, and unfairly disadvantages legitimate for-profit institutions like community banks.

Find out more

Archived Resources