Credit Union Trade Associations, Leagues U.S. Central and CUNA Mutual Cooperate to Counter Bank Tax Attacks

WASHINGTON – A group of credit union associations recently released the second advertisement in a campaign to counter banker efforts to get credit unions taxed. The so-called “Heroes Ad” features a firefighter, a nurse, a police officer, and a military officer. It asks, “Why do 85 million Americans love their credit union? America’s member-owned, volunteer-led, not-for-profit credit unions do something spectacular: we help Americans earn and save.” The advertisement is running in Congressional Quarterly, The Hill, Roll Call, and National Journal. NAFCU Vice President of Communications Jay Morris pointed out, “This week’s CQ has the ad on the back, so we’ve got really good placement there. It’s a pro-credit union message.It’s a very pro-consumer message.” Similar posters will also appear in the nation’s capital at two Metro train stations, Union Station and Capitol South, frequented by Hill staffers. CUNA, NAFCU, CUNA Mutual, the state leagues, and U.S. Central are collaborating on the advertisements. “This ad just shows the diversity of folks that we represent as credit unions,” CUNA Vice President of Political Affairs Richard Gose explained. “Also the ad’s built on a lot of our survey research that we have continued to do throughout the years, essentially, outlining those features of a credit union that are appealing and a lot of people just don’t understand.” Gose noted that the ads point out credit unions’ 85 million members, which is “important for folks, particularly on the Hill, to realize just how many people credit unions serve and what a difference they’re making.” “The thrust of the effort is to reinforce in the minds of people on Capitol Hill, both members of Congress and their staff, the essential role that credit unions play in providing low-cost financial services to their constituents and that the credit union tradition has been to reach out and serve people of all means, including those of modest means,” NAFCU SVP and General Counsel Bill Donovan stated. Gose echoed, “What we’re trying to do here is just elevate the awareness of the difference of credit unions in a subtle, but what we feel is an effective way. We don’t want to be over the top here. We’re not trying to be iron fisted at this point, but we’re simply trying to lay out the credit union message on the high road and in the way we traditionally have articulated our message.” The groups unveiled the joint advertising campaign in May to counter ads banking groups had taken out in support of taxing credit unions, like America’s Community Bankers `duck’ ads. With elections out of their way and a deficit on their hands, Congress is likely to introduce tax legislation next year, which the bankers are trying to capitalize on. [email protected]