TopMark Federal Credit Union Joins the "Don't Tax My Credit Union" Movement to Protect Members' Financial Well-Being

As federal lawmakers review potential tax reforms, TopMark Federal Credit Union is standing up to safeguard the financial interests of its members. With critical tax provisions set to expire in 2025, there is a growing effort to revoke credit unions' tax-exempt status—a change that could negatively impact millions of Members who rely on these not-for-profit institutions for better savings rates, lower loan costs, and reduced fees.

TopMark FCU is proud to join the national "Don't Tax My Credit Union" campaign, urging members to act by contacting their legislators with a clear message: A tax on credit unions is a tax on you. Credit unions have previously fought this fight – and won. Now it’s time to do it again. We must make it clear that the credit union tax status is vital for Americans’ financial well-being, with a significant negative impact.  For more information and ways to get involved, click here.

“As a member-owned, not-for-profit financial cooperative, our primary goal is the financial security of our members,” said Angie Maynard, CEO of TopMark FCU. Since our founding in 1963, we’ve benefited from a federal tax exemption, which allows us to pass on substantial savings to our members. If this exemption is removed, our members could face higher costs and fewer financial benefits. We stand alongside credit unions across the nation to advocate for the financial well-being of all.”

Credit unions like TopMark FCU are unique because of their not-for-profit status. This exemption allows them to provide competitive loan rates, higher dividends on savings, and low-to-no fees. The tax-exempt status is essential to their mission of serving everyday Americans and enhancing their financial security.

Your voice matters! Join the thousands of other credit union members and supporters who have contacted their lawmakers about the "Don't Tax My Credit Union" Movement
Help make your voice heard by contacting your legislators today. Take action here.

Together, we can ensure that credit unions continue to provide the services that millions rely on.