Congressmen Sander Levin and Tim Walberg Support Credit Union Tax Status

MCUL is pleased to have received strong statements from Congressmen Sander Levin (D-9) and Tim Walberg (R-7) in support of the credit union not-for-profit tax status. Levin, a member of the powerful House Ways and Means Committee from Royal Oak and the 2006 & 2012 MCUL Federal Lawmaker of the Year, said, “As a credit union member for many years, I have long supported credit unions and the critical role they play in our communities. Credit unions provide essential access to financing and other important services to individuals and small businesses in Michigan. I am committed to preserving credit unions’ traditional status as tax-exempt, not-for-profit, community-based organizations.”

Meanwhile, Walberg, a Republican member from southern Michigan and MCUL’s 2015 Federal Lawmaker of the Year, said, “As a long-time member of a credit union and a firsthand witness to the many important contributions they provide to the communities they serve, I strongly support maintaining the exemption. We need a revised tax code for a healthy economy that is simpler, fairer, rewards innovation and investment.”

Credit union leaders from across Michigan will converge on Washington, D.C. next week for MCUL’s Hike the Hill. With the introduction of comprehensive tax reform legislation in the coming weeks, MCUL and CUNA will continue to educate members of Congress on the importance of our not-for-profit tax status. Contact Todd Jorns, manager of federal legislative affairs, with any questions you may have on federal legislative issues by email or at (734) 793-3445.