ICBA poll shows Americans support changing credit union policies

With credit union representatives meeting with members of Congress in Washington this week, ICBA today is releasing new polling data showing Americans support reforms to policies that arbitrarily favor credit unions.

Polling Results: According to ICBA polling of U.S. adults conducted by Morning Consult:

• 68% say credit union customers should have the same consumer protections that banks provide, such as those provided by the Community Reinvestment Act.

• 73% say credit union customers should have the same levels of protection against illegal discrimination as bank customers.

• 54% say Congress should investigate whether the credit union tax exemption is still warranted.

• 78% say it is important that their financial institution be fully regulated.

• Just 21% are aware that credit unions have a tax exemption, while 68% think credit unions are a type of bank.

Message to Congress: ICBA is also conducting an ad campaign encouraging members of Congress to ask credit union officials participating in this week’s America’s Credit Unions Governmental Affairs Conference about:

• Federal income tax subsidies.

• The credit union mission to serve “people of modest means.”

• Credit union acquisitions of community banks.

Grassroots Resources: Community bankers can use ICBA’s Be Heard grassroots action center to call on their members of Congress to hold a hearing on the NCUA’s lax oversight. ICBA also encourages consumers to reach out to their members of Congress via ICBA’s “Something’s Wrong” website.

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