Don't tax my credit union

Today, 140 million Americans trust their financial futures to not-for-profit credit unions, often choosing a local credit union for its affordability, personal service and community focus. What if a big bank was the only option? Lawmakers are now considering federal tax changes that could threaten the existence of member-owned credit unions, leaving consumers with less choice, less competition and less control over their finances. Help protect credit union’s federal tax-exempt status and keep community-based, people-focused banking accessible and affordable for all.

GTE Financial is a locally owned, not-for-profit credit union serving over 230,000 members across West Central Florida since 1935. Guided by our mission of people-helping-people, GTE reinvests what we earn to offer better rates, lower fees, and essential programs like second-chance checking, credit-building loans, emergency lending, first-time homebuyer assistance, community development services and more.

But today, that mission is at risk.

Capitol Hill is considering changes to federal tax policy that could put credit unions’ tax-exempt status in jeopardy. Unlike big banks that prioritize profits for shareholders, credit unions are not-for-profit and exist to serve members and strengthen communities. Tax changes would undermine the important distinction between how banks and credit unions operate and would force not-for-profit institutions to divert resources away from the households, small businesses and communities that need them most. Learn more about how credit unions are fundamentally different.

Credit unions, like GTE Financial, fill banking gaps + give back in big ways.

• Over $6 million donated to local charities since 2010

• 29,000+ volunteer hours contributed by our team

• Our locations exist in investment areas where financial services may be lacking

• We offer free education and resources, whether you are member or not

• We build products and services that prioritize people over profitability, ensuring what we offer promotes financial stability, security and growth

• In 2024 alone, GTE deferred $143 million in loan payments and approved over 1,000 payday alternative loans to support storm-impacted families

Credit unions like GTE play a vital role in making mainstream financial services accessible, especially in communities often underserved by traditional banks. This impact is only possible because of our federal tax-exempt status. Without it, these services and the people who depend on them are at risk.

We’re inviting you to join GTE Financial in the Don’t Tax My Credit Union movement. Click the button below to contact your lawmaker urging them to oppose any effort to impose federal taxes on credit unions.

Help protect the structure and mission that makes affordable, community-first banking possible, not just for GTE, but for the 140 million credit union members across the country.

Your voice matters. With your support, we can ensure credit unions remain strong, member-focused, and rooted in local service for years to come.