What is a Credit Union?
Credit Union History
Credit Union Philosophy

Credit Unions Under Attack

Credit Unions exist with the purpose of promoting the economic well being of all people through a credit union system which is cooperative, member-owned, volunteer directed, not-for-profit, and therefore tax-exempt; to provide a secure financial alternative for all consumers, and to provide financial and related products and services to members.

However, the banking lobby and other forces are at work at state and federal levels to hinder the ability of credit unions to provide the quality services we currently offer.   Credit unions are constantly under attack and finding an ever-increasing need to defend our principals, beliefs and our right to serve YOU !

It is our goal to make sure elected and appointed officials and regulators understand the nature of the credit union mission and that they consider the impact of their actions on credit unions.   To do this, we need your help.   As credit union staff and members, you have a powerful collective voice that your elected officials and representatives want and need to hear.   Please take a minute to look over the legislative issues and challenges we face, as well as ways you can get involved.  

Register to Vote

Bexar County Elections Department
Clifford R. Borofsky, Elections Administrator
Phone 210-335-VOTE

Have you registered to VOTE?  If you are not sure, please call the Voter Registration office at the above phone number. 

If you are sure that you have not registered:

•  You may call the Voter Registration office at the above phone number and request a voter registration application to be sent to you. 

• Or you can visit the Voter Registration office at 233 N. Pecos la Trinidad, Suite 350 or the Elections Office at 203 W. Nueva, Suite 3.61 to request a voter registration application.

• OR , you can download a voter registration application card from the Texas Secretary of State Website.  In the part of that page that says Informal Application , select your county of residence (Bexar).  The application will be displayed.

Whichever option you choose, when you receive your voter registration application, fill it out completely and either drop it in the mail or drop it off at the Voter Registration or Elections office.  The application must be received in the voter registrar's office or postmarked 30 days before an election for you to be eligible to vote in that election.  For more information, please view A Guide to Voter Registration , at the Texas Secretary of State web site.

1. Promote your credit union! Let your friends, family and co-workers know about the great benefits you've found in being a credit union member.
2. Take note of which candidates support credit union issues and consider giving them your support in the upcoming election.   Or, if you notice a candidate you already support has not been a friend to credit unions in the past, we encourage you to call, write or e-mail them to voice your concern.   Your representative wants and needs to know how they can best serve the interests of you, the voter.
3. Contribute to the TCUL PAC ! Your financial support will go a long way toward helping credit unions achieve our goals.
4. Get involved in a campaign.   Nothing means more to a candidate than the time and energy of the volunteers that make campaigning possible.   Volunteer to call, block walk, stuff envelopes, or even put up signs in your yard.   Candidates never forget who helped them get elected and those relationships can be very valuable when important credit union legislative issues arise.  
5. Call! Write letters! Visit your representative! There will be times when we want our legislators to hear from as many of us as possible and this is where we really depend on you!

TCUL PAC

A Political Action Committee (PAC) is the only legal way for people to band together to provide contributions to candidates who support their causes.   Corporate contributions are not allowed under the law.   Only individuals like YOU are allowed to express their support for the TCUL PAC mission, and through TCUL PAC, YOU can help preserve the future of Texas credit unions.

Before you give, there are a few basic things you should know.   First, the TCUL PAC Board is made up of 14 directors appointed by the Chairman of the Board of the Texas Credit Union League Board of Directors.   These individuals determine how the money you and your fellow credit union members give will be allocated.   The goal of TCUL PAC is to provide contributions to the elected officials who support credit unions, regardless of party affiliation or positions on other issues.   There is no set formula for determining how a contribution is given.   However, key criteria include support of credit union issues in votes or public comment and the ability to influence legislation that is of interest to credit unions.  

Credit unions are constantly under attack by the banking lobby, which seeks to hinder the ability of credit unions to provide the quality services and financial opportunities currently available.   Contributions are not tax deductible and cannot be accepted from corporations, only individuals.   Contributions are completely voluntary and you have the right to refuse to contribute without fear of reprisal.

Please consider joining other Texas credit union members, employees, directors in supporting the TCUL PAC.  

What is the Credit Union Difference?

New federal laws and regulations are changing the structure and face of the financial services industry. In this time of accelerating change, it is important to truly understand how Credit Unions are unique and different, and why we remain a necessary and extremely popular financial alternative for more than 79 million Americans.

Not-for-profit. Credit Unions are not-for-profit financial cooperatives. We exist to serve our members, not to make a profit. Unlike most other financial institutions, Credit Unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to our members in the form of lower loan rates, higher interest on deposits, and lower fees.

Taxation. Credit Unions do pay taxes - payroll taxes, sales taxes, and property taxes. Congress exempts Credit Unions from federal income taxes. The exemption was established in 1937, affirmed by statute in, 1951, and reaffirmed in 1998 in H.R. 1151, the Credit Union Membership Access Act, which states:

"Credit Unions, unlike many other participants in the financial services market, are exempt from Federal and most State taxes because Credit Unions are member-owned, democratically, operated, not-for-profit organizations generally managed by volunteer boards of directors and because they have the specified mission of meeting the credit and savings needs of consumers, especially persons of modest means."

Ownership. Credit Unions are economic democracy. Each Credit Union member has equal ownership and one vote -- regardless of how much money a member has on deposit. At a Credit Union, every customer is both a member and an owner.

Volunteer Boards. Each Credit Union is governed by a board of directors, elected by and from the Credit Union's membership. Board members serve voluntarily.

Membership Eligibility. By current federal statute, Credit Unions cannot serve the general public. People qualify for a Credit Union membership through their employer, organizational affiliations like churches or social groups, or a community-chartered Credit Union.

Financial Education for Members. Credit Unions assist members to become better-educated consumers of financial services. Additionally, CUNA is partnering with the National Endowment for Financial Education, a not-for-profit foundation, to expand financial education among high school students. A national study shows that just ten hours of personal finance education can positively affect students' spending and savings habits for a lifetime.