STATEMENT: IRS Trump Accounts proposed rules allow transfer to credit unions

In response to the IRS release of the first two proposed rules for Trump Accounts, regarding general requirements and the pilot program contribution, America's Credit Unions President/CEO Scott Simpson issued the following statement: 

“The IRS’s proposed rules establishing Trump accounts are an important step toward implementing this new wealth building opportunity for American families. We are encouraged that the proposal confirms families will be able to transfer funds through a trustee-to-trustee rollover to institutions of their choice, including credit unions.

“Credit unions have a long track record of helping families build savings and financial security, and we look forward to providing comments to help ensure the program is implemented in a way that expands access and allows credit unions to effectively serve families participating in these accounts.”

​– Scott Simpson, President/CEO, America’s Credit Unions

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