Last week, a major milestone in Washington put tax reform firmly on the fast track: the U.S. House of Representatives passed a budget resolution, matching an earlier vote by the Senate. While the resolution does not mention credit unions directly, it sets the stage for the drafting of tax legislation—and that means our industry must be vigilant and engaged like never before. With the budget framework now in place, the House Ways and Means Committee will begin crafting the language of the tax reform bill. A discussion draft is expected in the coming weeks, with a full House vote anticipated before Memorial Day. This timeline is ambitious—and signals how quickly things can move once the legislative machine gets rolling. Let me be clear: although our tax status is not currently targeted, everything is on the table when tax writers are looking for revenue. That’s why now is the time to double down on grassroots advocacy to protect the credit union tax exemption that supports 142 million members nationwide. Let’s define this conversation on our terms—not the banks.’ Your voice matters, and together, we are impossible to ignore. The stakes are enormous. Research shows that taxing credit unions would cost the U.S. economy:
Meanwhile, credit unions deliver $38.3 billion in total economic benefits to American families annually. We are mission-driven, not profit-driven—and the people we serve are the same Americans our elected officials have pledged to protect veterans, farmers, teachers, small businesses, first responders, and working families. Let’s stand united to ensure Congress hears the credit union difference loud and clear. Call to Action: Credit Union CEO Sign-On Letter As we continue our mission to champion credit unions across the Dakotas, last week I reached out with an urgent call to action that demands our Dakota credit union leader’s urgent attention and immediate attention. The Dakota Credit Union Association—representing 62 credit unions, nearly 2,400 employees, and over 557,000 members in North and South Dakota—is sounding the alarm on renewed tax reform efforts in Washington, D.C. Proposals circulating in Congress threaten our federal tax exemption—an essential protection that allows us to offer lower loan rates, better savings returns, and fewer fees. During our March Hill visits, we thanked our delegation for recognizing the not-for-profit structure of credit unions. But make no mistake: this conversation is far from over. Our tax status is at risk, and we must act now. We’re finalizing a joint CEO sign-on letter to our congressional delegation, underscoring the critical role this exemption plays in serving members, supporting local economies, and preserving the credit union difference. Action Needed by Thursday, April 17: CEOs, to sign on to the letter, simply reply to the email sent on Friday, April 11 or contact Lindsey Hefta with one of the following:
Congress reconvenes shortly after the April recess, and we aim to submit the letter immediately. Timing is everything. We must show unity, urgency, and strength in protecting a pillar of our cooperative model. This isn’t just a tax issue—it’s about defending our members’ financial well-being and the foundation of what makes credit unions different and better for our communities. April is Youth Month! Throughout April, we’ve been celebrating both Credit Union Youth Month and National Financial Literacy Month. These campaigns give us a powerful opportunity to showcase how credit unions champion financial well-being, starting from a young age. Check out the free resources and ideas to help you bring Youth Month to life in your branches and communities. Don’t forget to use #CUYouthMonth to share your stories! 2025 Summit Early Bird Registration Ends this Friday! We’re just weeks away from the 2025 Summit, May 12–14 at the Delta Hotel in Fargo! With a revised 3-day format and a stellar lineup of speakers covering credit union economics, board governance, marketing, and leadership, you won’t want to miss it. Register by Friday, April 18 to save $50 per person with our early bird discount. Summit Registration & Details Stack the PAC Recognition & Fundraising Event – May 12 Join us Monday, May 12 at 7:30 p.m. for a special evening recognizing our 2024 Governmental Affairs Committee contributors. This joint ND and SD event kicks off Summit week in style and helps support vital advocacy efforts. Anyone who contributed last year or entered the sweepstakes at the CU Advocate level ($24) is already on the guest list. Not on the list? Simply donate $24 at the door to attend. Hope to see you there! Sanford Health Ribbon Cutting – Credit Union for Kids Micropreemie Unit Sanford Health will celebrate the opening of its new Credit Union for Kids Micropreemie Unit with a ribbon cutting ceremony on Thursday, May 15. Social at 8:00 a.m., program begins at 9:00 a.m. Invitations have been sent to participating credit unions—please RSVP if you haven’t already. This unit represents a meaningful investment in specialized neonatal care for our region’s most vulnerable patients. Credit Union Community Impact: BHFCU’s Operation Hope Shout-out to Black Hills Federal Credit Union (BHFCU) for their phenomenal Q1 community outreach. Through Operation Hope, BHFCU employees supported 11 nonprofits across SD and MT, collecting 2,019 essential items, making 108 fleece blankets, and donating $15,500 (including matched funds). This effort focused on helping the unhoused, survivors of domestic violence, and veterans. Over 170 employees from 22 departments came together to make a real difference. That’s the credit union spirit in action! Thank you for all you do every day to serve your members, communities, and our collective mission. Let’s stay focused and fired up as we protect what makes credit unions special. In cooperation,  DakCU President/CEO
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