Support from Ohio Members of Congress Allows Continued Credit Union Investment in Ohio Members, Communities

Columbus, OH (6-3-25) – Today, the Ohio Credit Union League released the following statement praising Ohio’s congressional delegation for recognizing the value that credit unions provide to 3.3 million members in recent reconciliation legislation passed by both chambers of Congress and sent to President Trump today.

 Ohio Credit Union League President Paul Mercer

“Ohioans rely on credit unions to not only provide top-tier financial services, but also to invest in local communities, families, and small businesses. By recognizing the value of credit unions in the reconciliation legislation that passed today, Ohio members of Congress ensured more than 200 Ohio financial cooperatives can maintain these key investments and move state and local economies forward.”

 

Under their current tax status as not-for-profit, financial cooperatives, credit unions invest any profits they earn back into the members and communities they serve. For example, Ohio credit unions in 2024:

·      Helped 2,300 individuals achieve homeownership

·       Provided 9,700 small-dollar loans

·       Empowered 25,000 students with critical financial education

·       Saved credit union members an average of $11,000 on auto loans and $35,000 on mortgages  

Recognizing the value of these credit union investments in people-first finance, Ohio’s congressional delegation, in a bipartisan fashion, fought to protect Ohio credit unions’ not-for-profit tax status and ensure that credit unions can continue putting people and their needs first.