As part of its ongoing efforts to educate policymakers and the public about large credit unions’ abuse of their tax exemption, the American Bankers Association—through its Explore Credit Unions campaign—is launching a new series of ads designed to highlight how large credit unions have lost their way.
The ads will appear in Politico’s widely read Morning Money newsletter and on digital and social media platforms. The campaign coincides with the arrival of credit union executives on Capitol Hill for the Credit Union National Association’s governmental affairs conference this week.
The ads highlight several ways that large credit unions have far exceeded their statutory mission to serve individuals of modest means—from buying up taxpaying banks to purchasing naming rates to sports stadiums. They also call for a reexamination of the tax exemptions for these institutions.
In addition to the advertising campaign, ExploreCreditUnions.com will feature new blog posts that highlight the ways credit unions have outgrown their special treatment.