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Greater Nevada Joins Nationwide Effort to Protect Credit Union Tax-Exempt Status
A threat to GNCU’s federal tax-exemption status is a threat to you.
As federal lawmakers consider tax reforms that could significantly impact credit unions nationwide, Greater Nevada Credit Union (GNCU) is taking a stand to protect the financial well-being of its member-owners. With key tax provisions set to expire in 2025, proposals to revoke credit unions’ long-standing federal tax-exempt status are circulating, which put millions of hard-working Nevadans and Americans at risk of higher costs and fewer benefits.
GNCU is joining the national Don’t Tax My Credit Union campaign, and we are strongly encouraging our more than 88,000 members to remind legislators that:
“a tax on credit unions is a tax on ME.”
The Credit Union Difference Is at Risk
Credit unions are not-for-profit cooperatives that leverage their tax-exempt status to offer members unique advantages including:
- Lower Fees, Better Rates, and Enhanced Benefits: Federal tax exemption allows credit unions to provide exceptionally competitive product offerings and services, plus additional advantages and unique benefits that set credit unions apart from profit-driven banks and institutions.
- Community Support: Instead of paying federal income tax, we invest in empowering local businesses and nonprofits, offering financial education to underserved groups, and supporting community programs.
- Our Not-for-Profit Legacy: As a not-for-profit cooperative, our focus is serving our member-owners — not generating profits for shareholders.
These legislative changes could disrupt essential financial resources for families, small businesses, and local economies. For GNCU, this could mean less reinvestment in the community programs that enable us to help more Nevadans— (think your friends, family, and neighbors!) and member-owners like YOU—Live Greater.
Adding Your Voice Can Help!
Contact your elected officials through the easy-to-use Don’t Tax My Credit Union (#take-action) tools. It only takes a few minutes to send a pre-written message to your representatives.
By speaking up, you’re not just defending Greater Nevada but protecting your financial future. As a member, you will be directly impacted by any changes. Please help us ensure that all federal credit unions can continue serving you nationwide with lower costs, better benefits, and community support.
Protecting our federal tax-exempt status is critical to keeping our rates low, our fees minimal, and our community investments impactful. We are grateful for your trust and commitment to our shared future. Together, we can ensure that our financial model remains a powerful force for good—because when you win, we all win. Please use the share functions on this webpage to help spread the word!
