ICBA: Federal credit unions should file Form 990
May 18, 2026 / By ICBA
ICBA told the Treasury Department that federal credit unions should be required to file Form 990, the annual information return required of most tax-exempt organizations.
Details: In a letter to Treasury regarding its Form 990 Transparency Initiative, ICBA:
Urged Treasury and the IRS to revisit the longstanding exemption that permits federal credit unions to avoid filing Form 990.
Said Form 990 promotes transparency and public accountability by placing detailed financial and governance information in the hands of credit union members, policymakers, and the general public.
Cited the importance of advancing the goals of the tax administration by furnishing the IRS with the data necessary to verify that tax-exempt status is warranted and is being honored.
More ICBA Advocacy: ICBA has repeatedly called on Congress to require federal credit unions to file 990s to provide transparency into their expenditures.
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