Rep. Kildee Offers Support for CU Tax Exemption (Misc News: July 30, 2013)
Freshman Congressman Dan Kildee has issued a strong statement in support of the federal credit union tax exemption.
Kildee, D-Flint, said he strongly supports credit unions’ unique structure as not-for-profit cooperatives. He added that many – including himself and his family – have benefited from credit union membership.
“Credit unions offer unique benefits and services to their members,” Kildee said, “from the everyday worker who opens a savings account with a favorable interest rate, a family with a low-interest home mortgage loan to buy their first home, or an entrepreneur with access to a small business loan, credit unions have historically been structured in a way that directly benefits their members in my district and across the nation.”
Kildee said that he’s heard from many constituents offering their support for credit.
“Recently, I have heard from many constituents who, like me and my family, are members of credit unions and strongly support the services they provide to our local community and economy,” Kildee said. “As a member of the House Financial Services Committee, I am a strong supporter of credit unions’ longstanding tax-exempt status.”
MCUL & Affiliates CEO David Adams thanked Kildee for his strong statement of support for credit unions.
“Rep. Kildee understands the critical role credit unions play in Michigan’s economy,” Adams said. “His statement gives a strong and credible endorsement for the credit union tax exemption being good public policy. We 're hopeful that other members of the Michigan delegation will also affirm their support in a similar way."
Adams added that Kildee’s statement demonstrates the importance of grassroots outreach.
“Rep. Kildee said in his statement that hearing from constituents was important in hardening his resolve to support our federal tax exemption,” Adams said. “His statement demonstrates why asking members to contact their congressmen is so important.”
CUNA reported last week that it has recorded more than 875,000 congressional contacts through its Don’t Tax My Credit Union Campaign.
Learn more about how your credit union can take part in the campaign at donttaxmycreditunion.org.