Credit Union Member-Owners Take A Stand
Virginia boasts more than 3.25 million credit union member-owners.
These everyday working Americans understand that their member-owned, not-for-profit credit union exists solely to provide member-owners with consumer-friendly products and services, designed to help them achieve their personal financial goals.
This Web site is designed to help those member-owners help their credit unions, by giving individuals the opportunity to contact legislators and voice their opinion on issues and legislation.
Get Involved ... Help Protect Your Member-Owned Credit Union!
We need your help on these critical issues. Credit unions will be asking state lawmakers to support two bills during the 2016 General Assembly.
(1) Charter flexibility
Our proposed legislation will give state credit unions new flexibility with regard to our chartering options, enabling us to adapt in today's rapidly evolving financial services marketplace. Our bills are House Bill 874 and Senate Bill 582.
(2) Public deposits
Credit unions pay significant taxes that contribute to state and local government coffers, including payroll taxes, personal property taxes, real property taxes, and in the case of state-chartered credit unions, the sales tax. As contributors to the local tax base, fairness would dictate that credit unions at least be an option as depositories for public funds. This would offer counties, cities, towns, school districts and the like the option of using a credit union for banking services. Our bills are House Bill 871 and Senate Bill 583.