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Public Support Strong for Credit Unions Being Exempt from Corporate Income Taxes

State Survey Results
Oct 07, 2021
By Laura Gallagher
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 In a recent survey, 80% of registered voters said Wisconsin credit unions should be exempt from state and federal corporate income taxes because they are non-profit cooperatives.

That support, registered in an August survey conducted by Public Opinion Strategies, is up from the 79% who in 2018 said credit unions should be exempt from such taxes. 

“This support demonstrates what we see every day: Wisconsinites support non-profit credit unions, who return the money they make to their members in the form of lower loan rates, higher rates on savings, and fewer and lower fees,” said Brett Thompson, President and CEO of The Wisconsin Credit Union League.

The survey of voters also found that 76% of voters agreed that a new tax on cooperative credit unions would be a tax on credit union members.

Additionally, 79% of survey respondents agreed that credit unions are much more likely than banks to care about people more than profits, and 72% agreed that credit unions offer the best deals for consumers.

The survey also found that 73% of respondents agreed that credit unions provide financial services to many people who otherwise would not have access, and 67% agreed that credit unions provide services to many small businesses that would otherwise not have access to those services.  

“It’s clear from these results that Wisconsin voters know about the Credit Union Difference and support the services and savings that our credit unions deliver to members and how they serve and support their communities,” Thompson said.

The survey was conducted August 16-19 among 600 registered voters, including 300 cell phone respondents. The margin of error is plus or minus 4%.

 For more on how Wisconsin's credit unions have a positive impact on Wisconsin families, businesses, local organizations, and the economy, visit wicreditunions.coop.

About The Author

Laura Gallagher is the President & Founder of The Creative Company, representing The League. To arrange an interview, please contact Laura at 608-558-0662.