STATEMENT on Assistant Secretary of the Treasury nominee Kenneth Kies from America's Credit Unions

“When banks hold over 91% of assets, and have since the existence of credit unions, it is impossible to claim that credit unions provide any real competition to banks. Credit unions are integral to strong local economies—their not-for-profit status is proven to make financial services more affordable for all. A recent survey from J.D. Power shows consumers trust credit unions, including large credit unions, more than banks. Revitalizing communities is a priority for the Trump Administration, and preserving credit unions’ tax status is smart policy to accomplish this goal. It's important to note that Kenneth Kies did not specifically call out credit unions in his responses to the Senate Finance Committee related to tax policy ensuring a level playing field, and we continue to engage with nominated officials to ensure they have the facts about the credit union difference.”
​— Jim Nussle, America’s Credit Unions President/CEO

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