The credit union is not identified, but $57 million matches 2016 net income for the state's largest credit union: University of Iowa Community Credit Union of North Liberty, Iowa ($4.5 billion in assets, 165,295 members).

Altogether, Iowa's 93 federally insured credit unions had $138 million in net income in 2016, and a 0.86% return on average assets. Assets were $16.9 billion on Sept. 30, up 11% from a year earlier.

The Iowa Credit Union League has produced its own 30-second animated spot, pointing out that Iowa banks paid out $500 million to shareholders, while Iowa credit unions save their members $100 million a year in lower fees and better interest rates.

“If you think banks and credit unions are the same, remember this: One is run for profit, the other is run for you.”

The last battle in Washington ended last December when Congress let stand the longstanding federal tax exemption for credit unions whose profits belong to their member owners. But the issue continues in political struggles taking place in states across the nation.

In Iowa, the latest battle for public perception began when the legislature convened Jan. 8.

Republicans in Iowa control the executive and legislative branches, with 29 of 50 members of the state senate and 59 of 100 members of the state house. Until the 2006 election Iowa had one of the nation's most evenly split legislative branches.

Republicans have traditionally controlled the governor's office in Iowa since the Civil War. The exceptions have been during the populist wave of the 1890s, the Great Depression of the 1930s, most of the 1960s, and 1999 to 2011.

The Iowa Credit Union League hasn't yet talked with Republican Gov. Kim Reynolds, who took office last year, but she is scheduled to speak Feb. 6 at the league's Legislative and Regulatory Issues Conference.

Justin Hupfer, the league's vice president of government affairs, said about 1.1 million Iowans belong to credit unions. “A tax on credit unions is ultimately a tax increase on the members that own it. ,” he said.

“Her efforts have been focused on trying to let Iowans keep more of their money, and reduce their tax burden,” he said. “Our hope would be that the bankers' effort to raise our taxes would be contrary to her goals.”

Iowa credit union leaders have been writing op-eds and reaching out to their members through emails and newsletters, asking them to contact their legislators. The league's website says 5,000 have sent letters so far.

Richard Gose, CUNA's chief political officer for advocacy, said banks efforts to undermine credit unions ebb and flow at the state and national levels, sometimes at the same time.

This year those efforts might intensify because many states are pursuing tax reform, and banks are quick to offer up credit unions as source of new revenue. Some of the states CUNA is watching include Oregon, Washington, Illinois, South Carolina, Kansas and Missouri.

”We will do whatever we can to defend credit unions against bank attacks,” Gose said.

However, the Iowa Bankers Association has “taken it to another level,” Gose said. “What's going on in Iowa is a full-court press.”