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Oregon League Scores Tax Exemption Support from Entire Congressional Delegation

BEAVERTON, Ore.-Congressman David Wu (D-Ore.) was the most recent addition to the Credit Union Association of Oregon's list of lawmakers supporting the credit union tax exemption. Wu recently wrote the league to express his firm belief that credit unions should remain tax-exempt. "I strongly support this exemption because I feel...

By Staff Writer | Updated on February 15, 2005

BEAVERTON, Ore.-Congressman David Wu (D-Ore.) was the most recent addition to the Credit Union Association of Oregon’s list of lawmakers supporting the credit union tax exemption. Wu recently wrote the league to express his firm belief that credit unions should remain tax-exempt. “I strongly support this exemption because I feel that credit unions are unique in that they exist to serve the financial needs of their members rather than focusing on maximizing profits,” his letter read. “Taxation would severely undermine this service character of credit unions. “As we face today’s economic challenges of a growing federal deficit, downsizing, and even outsourcing, credit unions remind us that we can work together for the common good to create healthy, sustainable communities.” According to CUAO Director of Communications Amy Drew, the league has garnered both written and oral support from all five of its members of the House of Representatives and both senators.

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