NCBA CLUSA to Congress: “Support Credit Union Tax Exemption”

Web February 22 Credit Union LegislationWeb February 22 Credit Union LegislationComprehensive tax reform will be one of the issues that Congress will try to tackle when it returns in September. It is such a priority for Congressional tax committee leaders, that staff are working during the August break to draft a bill for Congress to consider later in the fall. Last week, the National Cooperative Business Association CLUSA International (NCBA CLUSA) sent support letters to each member of the House Ways and Means Committee and the Senate Finance Committee to urge them “to advocate for the retention of the credit union tax exemption during your deliberations on tax reform.”

An excerpt from the letter states that, “NCBA CLUSA represents over 29,000 cooperatives with 120 million consumer-owners across the country… The credit union tax exemption stands as a benefit to all American consumers, not just the 96 million members across the nation. This wise, common sense tax policy enables credit unions to retain their member-focus, in contrast to the for-profit orientation of the commercial banking system. Credit unions earn their tax exemption every day, and we strongly endorse continuing its role in strengthening our financial marketplace.”

“Our discussions with key players on Capitol Hill indicate that there will eventually be a tax reform bill in Congress. NCBA CLUSA will do everything we can to support the advocacy efforts of the Credit Union National Association and the National Association of Federal Credit Unions to protect the credit union tax exemption,” said Mike Beall, President and CEO of the NCBA CLUSA. “We firmly believe the credit union tax exemption is a pro-consumer use of tax policy that translates into real, tangible benefits for the American consumer and the financial marketplace in general.”

NCBA CLUSA stands firmly with the credit unions and will continue to tell Congress, “Don't tax credit unions, and their 96 million members.”

The National Cooperative Business Association CLUSA International (NCBA CLUSA) is the apex association for cooperative businesses in the United States and an international development organization. NCBA CLUSA provides cross-sector education, support, and advocacy that helps co-ops thrive. For nearly 100 years NCBA CLUSA has sought to advance and protect cooperative enterprises, highlighting the impact that cooperatives in bettering the lives of individuals and families. In the last 60 years, NCBA CLUSA has grown its international development portfolio to over $34 million of active programs in 15 countries.

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Call to Action: Tell Your Members of Congress to Support Cooperative Development Funding!


Cooperative Development Centers Need Your Support!

During the Congressional appropriations process, vital funding for the USDA Rural Cooperative Development Grant (RCDG) program was impacted dramatically, and the cooperative community needs to do everything we can NOW to restore it to sufficient levels.

The House of Representatives Agriculture Appropriations bill for fiscal year 2014 eliminates RCDG funding that is critical to the development of cooperatives in rural America. The Senate provides $8.8 million in their funding bill for the program. Without sufficient funding for the RCDG program, cooperative development centers providing hands-on assistance will be unable to operate, and the only existing program in the federal government dedicated to cooperative development would be hindered significantly or possibly eliminated.

As an NCBA CLUSA member and supporter, you have an opportunity to help!

Attached are two letters, one specifically drafted for the House of Representatives and the other for the Senate. Please send the appropriate letter of support to your Representative or Senators and let them know this vital program needs to be saved.
If you would like to share the success of your advocacy efforts on this issue or have any questions, please contact NCBA CLUSA’s Vice President of Advocacy, R.L. Condra at 202.383.5480 or This email address is being protected from spambots. You need JavaScript enabled to view it..
Sincerely,

Michael Beall
President and Chief Executive Officer
 
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Senator Begich Supports Credit Union Tax Exemption

 

Thursday, 01 August 2013 10:38

In a July letter to the Senate Finance Committee, Senator Mark Begich (D-AK) stated he supports credit unions and their tax exemption status.

Outside of the Washington beltway, regular folks may not be aware that Congress is working to overhaul the existing tax structure. For the last few years, Congressional tax committees have been considering comprehensive tax reform, and they now plan to draft and pass a bill later in the year.

Sen. Mark BegichSen. Mark BegichThe current process in the Senate is called the “blank slate” approach. Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) have asked senators to submit letters advising the committee which tax exemptions they support that should be included in the committee’s approach to comprehensive tax reform.

Along with his requests to keep housing and energy tax provisions, Senator Begich also included the credit union tax exemption in his July 26 letter to the Senate Finance Committee.

In his letter, Senator Begich stated, “Alaska is far removed from traditional financial centers and that credit unions play an outsized role in the state’s economy. That is why Section 501(c)(14), which grants tax exempt status to credit unions, should be retained in any tax reform effort, to ensure continued access to affordable credit for consumers, homebuyers and small businesses alike, all of which contribute substantially to economic growth.”

At the Finance Committee’s request, the letter writing exercise has been kept confidential, but Senator Begich, along with a few other senators have made their requests public. It is not clear how senators are participating in the “blank slate” process, or how the House of Representatives will proceed with their tax reform approach.

NCBA CLUSA has coordinated its efforts with the Credit Union National Association (CUNA) and the National Association of Federal Credit Unions (NAFCU) to support the credit union tax exemption and will continue to work with its association partners as the tax reform process moves ahead in Congress.

 

Legislative Update: Cooperative Development Bill Introduced in the House of Representatives

Legislative Update Cooperative Development Bill Introduced in the House of Representatives
Legislation Focuses on Job Creation by Promoting Cooperative Development
 

(WASHINGTON, DC) – The National Cooperative Business Association (NCBA CLUSA) is excited to announce the introduction of legislation that will spur job creation and development of cooperatives. The legislation H.R. 2437 titled, “Creating Jobs Through Cooperatives Act of 2013” was introduced by Congressman Chaka Fattah (D-PA) on June 20 in the House of Representatives.

“Co-ops bring communities tighter by encouraging residents to pool their skills and resources,” said Fattah. “They empower people to make decisions that will create opportunities that grow their communities and provide an added sense of belonging. This legislation brings federal resources and a policy priority to that effort.”

The legislation would create a national program within the U.S. Department of Housing and Urban Development to provide capital, training and other resources to foster member owned businesses. The bill introduced will strengthen communities, promote self-help, and generate jobs by awarding grants to nonprofit organizations, colleges and universities that help grow or create cooperatives. Also, when establishing cooperatives, communities will be provided with guidance, best practices, and technical assistance. Furthermore, the legislation will create a revolving loan fund, providing seed capital to groups forming cooperatives and funding to train providers in technical issues, supporting existing professional development for organizations engaged in cooperative development.

“On behalf of the 29,000 cooperatives throughout the country, we thank Congressman Fattah for his support and leadership,” said Michael Beall, president of NCBA CLUSA. “This legislation is a giant step in providing more communities around the country with the financial backing to grow businesses that share their same values.”

Cooperatives already play a significant role in the U.S. economy operating in all 50 states and across all sectors. They are owned and operated by the people who utilize the goods or services provided by the co-op and they operate for the benefit of its members. Cooperatives are a part of many industries including energy, telecommunications, food distribution, insurance, credit unions, agriculture, health, housing, and wholesale and retail purchasing and distribution. There are 29,000 U.S. cooperatives that account for more than $3 trillion in assets, totalling over $500 billion in revenue, $25 billion in wages and benefits, and providing nearly two million jobs.

If you would like to receive the text of the bill, or would like to learn how you could have your Member of Congress support the legislation, please contact R.L. Condra, NCBA CLUSA Vice President of Advocacy, 202.383.5480.

The National Cooperative Business Association CLUSA International (NCBA CLUSA) is the apex association for cooperative businesses in the United States and an international development organization. NCBA CLUSA provides cross-sector education, support, and advocacy that helps co-ops thrive. For nearly 100 years NCBA CLUSA has sought to advance and protect cooperative enterprises, highlighting the impact that cooperatives in bettering the lives of individuals and families. In the last 60 years, NCBA CLUSA has grown its international development portfolio to over $34 million of active programs in 14 countries.

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NCBA Congratulates Cooperator Sally Jewell on Cabinet Confirmation

April 10, 2013

Contact: John Torres
This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.
202.383.5452

FOR IMMEDIATE RELEASE

NCBA Congratulates Cooperator Sally Jewell on Cabinet Confirmation

NCBA Congratulates Cooperator Sally Jewell on Cabinet ConfirmationNCBA Congratulates Cooperator Sally Jewell on Cabinet Confirmation


(WASHINGTON, DC)
 – The National Cooperative Business Association (NCBA) congratulates Sally Jewell, president and CEO of REI on her confirmation as Secretary of the US Department of the Interior.

“We are thrilled that Sally Jewell has been confirmed and look forward to working with her as we promote the cooperative business model on Capitol Hill and within the Administration,” said Mike Beall, president and CEO of NCBA. “The cooperative community is proud that a leader who understands the valuable contributions cooperatives make to the United States and its economy is now a member of President Obama’s cabinet.”

NCBA looks forward to increasing the awareness of the cooperative enterprise, highlighting its success through the leadership shown by Secretary Jewell as former president of an organization grounded in the core principles shared by all cooperatives, which includes volunteerism, concern for community, and democratic governance.

REI is the largest consumer cooperative in the United States and its 4.7 million members are among the more than 100 million Americans who participate as members of cooperatives.

TWITTER FEED

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