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

Fed’s Bowman: Credit union acquisitions indicate need for merger rethink

Sep 29, 2022 | NewsWatch Today
Federal Reserve Governor Michelle Bowman said the increase in credit union acquisitions of taxpaying community banks indicates regulators should rethink how they evaluate bank mergers.

Credit union field of membership application blocked in Virginia

Aug 4, 2022 | NewsWatch Today
The Virginia State Corporation Commission denied Virginia Credit Union Inc.’s application to expand its field of membership to include the Medical Society of Virginia—the latest setback to the credit union industry’s efforts to increase its taxpayer-subsidized authority.

ICBA Testifies Urging Congress to Apply Community Reinvestment Act to Credit Unions

Jul 13, 2022 | Press Release
The Independent Community Bankers of America (ICBA) today called on Congress to examine the need to apply the Community Reinvestment Act to tax-exempt credit unions.


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


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


in federal income taxes.


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


in tax-free assets.


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