A not-for-profit credit union, like HOPE, is all about providing great financial services to its members. That’s its sole purpose, distinguishing a credit union from other financial institutions. But you might lose ALL of the benefits you enjoy at HOPE unless Congress hears loud and clear from members like you that you want preserve the tax status of credit unions.

Our credit union pays every tax other financial institutions pay except one: the corporate income tax. And that’s because all credit unions are not-for-profit cooperatives that are owned by their members, consumers like you. As not-for-profits, credit unions return what they earn to their members in the forms of lower rates on loans, higher returns on savings, and lower and/or fewer fees.

In fact, for every $1 of their tax exemption, credit unions return well over $10 to consumers in better rates and lower fees. That’s a solid investment in our communities.

A credit union can do that because its emphasis is on providing financial services to members at reasonable costs and returns – not by amassing profits from them. By making financial services more affordable, a credit union helps you reach your goals and improve your financial well-being.
Now, some say credit unions should pay income taxes, even though it amounts to an additional tax on our 28,000 members and more than 96 million credit union members nationwide.

The truth is, if credit unions were taxed – and remained not-for-profits – it’s unlikely their members could continue to receive lower rates on loans, higher savings return, and low fees.

If the savings and service you enjoy at HOPE is important to you, please take a moment to ask Congress to preserve credit unions’ tax status as part of tax reforms occurring now. Without that, you could lose the many benefits you enjoy.

There are many ways you can make your voice heard!

  • Stop by a HOPE branch and put your name on a “Don’t Tax My Credit Union” card that we will mail on your behalf to elected officials
  • Visit DontTaxMyCreditUnion.org, where you can:
    • Watch the video, then
    • Take action to email your Member of Congress
  • Download the CUNA Advocacy app in the Apple App store or Google Play Store
  • Call the toll-free number 877-642-4223 to tell Congress “Don’t Tax My Credit Union!”
  • Be part of the Twitter campaign:
    • Follow @CUNAadvocacy
    • Using the hashtag #DontTaxMyCU
  • Give a “Like” to CUNA Advocacy on Facebook
  • Make and post Vine videos
  • Tell your friends!

Help us maintain our ability to keep providing the same great affordable products and services that we believe you deserve!