Don't Tax My Credit Union
Protecting your Credit Union: How YOU Can Help the "Don't Tax My Credit Union" Movement
At OnPath Credit Union, we're not just another bank. We're a member-owned cooperative, which means you are at the heart of everything we do. We're dedicated to providing affordable financial services, like low-interest loans and high-yield savings accounts, and we actively reinvest in our local communities through initiatives like financial literacy programs and supporting local businesses. Every decision we make is guided by what's best for our members, not corporate profits. This is reflected in our mission to serve those who often need it most. For example, our average consumer loan credit score is around 620, and a significant 75% of our members qualify as low-to-moderate income. We're committed to helping these members achieve their financial goals.
A key part of how we're able to deliver these benefits is our tax-exempt status. It's a recognition of our unique, member-focused structure. This status isn't guaranteed, though; it's periodically challenged by those who don't understand the vital role credit unions play in our economy. That's why we need OnPath Credit Union members, like you, to step up and make your voices heard. Think about it – we can offer things like our 5% money market account because we're not focused on maximizing profits for shareholders. Banks, which are taxed, simply can't offer the same level of benefits to their customers. This is why they don't.
The 'Don't Tax My Credit Union' movement is about protecting that tax-exempt status. It's what allows us to keep offering those money-saving services and community-building initiatives you've come to rely on. By staying informed, engaging in advocacy efforts, and sharing your positive experiences with OnPath, you're directly contributing to our ability to continue serving you and your community effectively.
Here are some ways you can help:
1. Get Smart, Spread the Word
First things first: understand why this whole tax exemption thing matters. Then, share that knowledge!
- Learn About the Tax-Exempt Status: Find out why credit unions like OnPath are exempt from federal income tax. It's not just some random rule; it has real benefits for you as a member. When you get how it helps you, you'll be able to explain it to others – your friends, your family, even those folks in government. You can get more info right here: Don't Tax My Credit Union
- Spread the Word: Share articles, posts on social media, videos – anything that shows how credit unions are different from big banks and why keeping this tax-exempt status is so important for our communities. The more people that get it, the better! Keep in touch with OnPath on our social media channels where we will be posting many resources you can share.
2. Jump In and Support "Don't Tax My Credit Union" Campaigns
Lots of organizations, like America's Credit Unions, are working hard to protect credit unions. Let's help them out!
- Sign Petitions: These organizations often have petitions asking for credit unions' tax-exempt status to be protected. Take a moment to reach out to your local members of Congress (both Senate and House) and let them know you support the “Don’t Tax My Credit Union” movement. The Don't Tax My Credit Union page offers a pre-written message you can send and the option to sign-up for emails and alerts.
- Participating in Online Awareness Campaigns: Get involved in online campaigns. Many of these make it easy to take action, whether that means sharing a post on social media, participating in an email campaign, or simply spreading the word about the movement.
As an OnPath member, you're a key part of the credit union movement. By getting informed, speaking up, and participating in campaigns, you can play a big role in protecting our tax-exempt status. This status is what lets us give back to our community, offer services that are actually affordable, and focus on what you need – without those profit-hungry motives you see at big banks or predatory lenders.
Together, we can make sure credit unions keep being able to thrive and support the communities that count on them. Let's keep this movement going strong, and thanks for being part of what makes credit unions like OnPath so special.