Protecting Our Members: MSDFCU Supports the 'Don't Tax My Credit Union' Movement
At Merck Sharp & Dohme Federal Credit Union (MSDFCU), we are proud to serve our members as a not-for-profit financial cooperative. Since 1950, our mission has been to empower members to achieve financial success by offering better rates, lower fees, and exceptional service. This commitment is made possible, in part, by our federal tax-exempt status—a benefit that allows us to reinvest earnings directly into our members and communities.
Federal lawmakers are considering changes to the tax code—and one proposal could have serious consequences for everyday Americans. Eliminating Credit Unions’ federal income tax exemption would ultimately hurt the very people lawmakers were elected to protect. We must act now, together, to ensure Congress understands: taxing credit unions is the same as raising taxes on more than 140 million Americans who rely on them.
The "Don't Tax My Credit Union" campaign, spearheaded by America's Credit Unions, aims to preserve the tax-exempt status of credit unions. Taxing credit unions would effectively impose a financial burden on our members, reducing the benefits and services we can provide.
Why This Matters:
- Member Impact: As a member-owned institution, any additional tax liabilities would directly affect our ability to offer competitive rates and services.
- Community Support: Our tax-exempt status enables us to contribute to community initiatives, such as scholarships and local charitable programs.
- Financial Health: Maintaining our current tax status is crucial for the financial well-being of our members and the sustainability of our services.
Take Action:
We encourage our members to support the "Don't Tax My Credit Union" campaign by reaching out to your U.S. Representatives and Senators. Your voice can make a difference in preserving the benefits that Credit Unions provide to their members and communities. Remember - a tax on credit unions is a tax on you.
For more information and to take action, please visit Don't Tax My Credit Union.
Together, we can ensure that MSDFCU continues to serve as a trusted financial partner for our members.