If you’re as passionate about helping others as we are, doing just a little can go a long way in helping us best serve you! We are constantly looking for better ways to serve our members and our communities and staying in front of government regulations affecting credit unions and our members is an important part of that. Your voice has power and our elected officials understand that. We encourage you to join us in letting our elected officials know the effects of their regulations and demand action.
Protect your privacy — stop the IRS from looking at your account!
Many of you may have heard that Congress is currently considering critical new infrastructure spending. In order to pay for this proposal, Congress is looking at unconventional sources of revenue. One proposal under consideration would require credit unions and other financial institutions to report to the Internal Revenue Service (IRS) how much money has gone into and out of accounts holding more than $600.
Your efforts last month had this item removed from the infrastructure bill. Congressional Leadership recently annoumced it has decided to move forward with it regardless.
In addition to representing a significant new compliance burden for you and unecessarily placing your personal and banking information at higher risk for identity theft, this proposal would put credit unions and banks in the position of perpetrating an unprecedented invasion of privacy.
Send a message to their federal lawmakers through our Grassroots Action Center to let them know what you think about their proposal.