Protecting our Credit Union

April 2025

Dear ServU Members:

We’re reaching out to you as a member-owner of ServU Credit Union about an issue on Capitol Hill that could affect the financial services you depend on us to provide. It’s imperative that we keep you informed about potential threats to your Credit Union and our ability to provide you with the best possible financial services. 

As not-for-profit financial cooperatives, credit unions like ServU do not pay the federal corporate income tax on profits (we do pay local property and school taxes that go back to supporting our communities).  Our people-first, member-owned structure means we instead return our earnings to members like you in a variety of ways, including more affordable loans and better returns on savings.

But there are Wall Street bank lobbyists and politicians in Congress who want to tax credit unions, which really means A NEW TAX ON YOU and the more than 140 million other Americans who choose a credit union as their financial partner. Imposing the federal corporate income tax on credit unions will significantly reduce our ability to provide the lowest loan rates and better savings rates that are so important for your financial well-being.

It’s not just about the rates credit unions offer to you. By putting a new tax on not-for-profit credit unions, the big Wall Street banks know they can eliminate competition, continue to offer their higher rate loans, and increase bank profits. But it doesn’t make sense to tax people like you just because you choose to manage your financial needs with a credit union instead of a bank.

This is an urgent matter and we need your help. Please act today to contact your U.S. Representative and Senators and tell them Don’t Tax My Credit Union.  Go to www.donttaxmycreditunion.org and click on the Take Action button.  

We sincerely appreciate you being a member of ServU Credit Union.  Help us protect your Credit Union, and the millions of families across the country who rely on their credit unions, too. Your voice is important. Nothing is more powerful to elected officials than when they hear from constituents like you. 

Sincerely,
ServU Credit Union