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ABA purchases ads slamming credit unions' tax exemption

This past week (Feb.22-26), the credit unions gathered in Washington, D.C., for the Credit Union National Association's annual lobbying event. The ABA purchased an advertising wrap on the copies of The Washington Post to welcome them to Capitol Hill.

These ads help rebut the credit unions' defense of their tax-advantaged status by reminding members of Congress and their staff that ending the credit union tax exemption could save taxpayers $27 billion over 10 years. The message for banks is simple:

Credit unions have grown into a booming $1 trillion industry – yet still enjoy a Depression-era tax exemption. That exemption will cost the government $27 billion over the next ten years. Why continue to subsidize a healthy, profitable industry when so many other priorities need funding?

Good question. Click here to see the ads that will be run in the Post.

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