Protect Your Credit Union

Take Action Today

There is legislation being drafted in Washington that could remove credit unions' tax-exempt status and affect the financial services you depend on Pheple Federal Credit Union to provide. It’s imperative that we keep you informed about potential risks to your credit union and our ability to provide you with the best possible financial services. 

As not-for-profit financial cooperatives, credit unions like Pheple do not pay federal corporate income tax on profits. Our people-first, member-owned structure means we instead return those earnings to members like you in a variety of ways, including more affordable loans and better returns on savings.

Update, May 2025:

Congress has reaffirmed the tax-exempt status of credit unions by keeping it unchanged in the latest federal budget legislation. This outcome is a significant win for our credit union and for the entire Credit Union Movement. It ensures that we can continue to provide the vital financial services and support that our members rely on, without the burden of additional taxes.

We want to extend our heartfelt thanks to each member who took action and advocated for this important cause. Your voices, alongside tens of thousands of Pennsylvanians and hundreds of thousands across the United States, made a difference. Your engagement and support have been crucial in demonstrating the value of credit unions to our legislators.

While this is a positive development, it's important to remain vigilant. Amendments to tax legislation could still emerge as the legislative process continues. Rest assured, Pheple Federal Credit Union, together with our state and national associations, will remain actively engaged. We are committed to ensuring that the best interests of credit union members are well-represented throughout the legislative process. Looking ahead, Congress will continue to debate broader federal tax policies in the coming months. We must stay prepared to defend our tax status whenever it may be challenged. I'd like to encourage all members to stay informed and engaged as we navigate these discussions.

Why should we protect credit unions?

Credit Unions provide:

• No-fee and low-fee accounts to help individuals avoid predatory lenders

• Financial counseling

• Better interest rates on affordable loans

This is an urgent matter, and credit unions need your help. Please act today to contact your U.S. Representative and Senators and tell them Don’t Tax My Credit Union through our easy-to-use Action Center.

Even if you have already taken action in the past, we ask that you consider repeated and consistent communication with your representatives to help them understand how vital your credit union is to you.

 Please help us protect your credit union and the millions of families across the country who rely on their credit unions, too. Your voice is important. The most important thing you can do is make sure your voice is heard.