Courtesy of Cindy Connelly and the Georgia Credit Union Affiliates, this week we have an important guest blog to share with you:
Protect Credit Unions with Your Vote
As an American, you have the great privilege of making your voice heard on issues that are important to you by voting in local, state and national elections. Your vote matters. Legislators make important decisions that have direct impact on your life. They also make decisions that impact that way your credit union functions and how it is able to serve you. That is why it is vital for you to be informed about issues that affect credit unions and candidates who believe in the value of your institution. In this way, you are able to ensure that your credit union can continue to serve your best interests now and in the future.
For example, big bank lobbyists are currently urging Congress to raise taxes on your credit union, even though as not-for-profit financial institutions, credit unions like yours have been exempt from federal income taxes for nearly a century.
Unlike banks that seek higher profits for investors, your credit union returns earnings to members like you through lower fees, higher interest rates on savings, and more affordable loans. So the new taxes on credit unions that bank lobbyists are calling for would ultimately harm you as a credit union member.
The danger also exists here at home in Georgia, where potential legislative changes could impact the ability of your credit union to protect itself against fraud, placing added burdens on the credit union and indirectly on you as an owner of the credit union.
In years past, Georgia has been fortunate to have credit union members serving at the state and national level. These legislators believe in the credit union philosophy of “people helping people.” They have supported credit unions and protected the rights of credit union members.
Maybe it’s time for credit union members to make sure their credit union benefits are protected in the future. We urge you to back candidates who understand that credit unions are focused on helping people afford life, and who will fight to protect credit unions. Your support will make a difference to your credit union and ultimately to your financial well being.
The post Get Out and Vote! appeared first on Peach State FCU Blog.
