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Advocacy Alert: Speak Up for Cooperative & Community Finance

Cooperative Federal ensures that ALL people have access to affordable banking, fair credit, and economic opportunity. From personal finance, to homeownership, to small business, we show up for neighborhoods that mainstream banks have left behind. And we're not alone: we're part of a growing, nationwide movement of Community Development Credit Unions dedicated to investing in low-income communities.

With rising costs squeezing household budgets, credit union members like you need community finance more than ever. But our movement is facing unprecedented threats, to our funding and even to our very structure as not-for-profit cooperatives. Cooperative Federal is calling on our elected leaders to stand with you -- and we need your help to reach them. Take action today! 

1. Save the CDFI Fund

The Community Development Financial Institutions (CDFI) Fund provides federal funding to expand affordable housing, small business, fair credit and ethical banking in every state across the nation. For the first time since its inception, the CDFI Fund is at risk of massive cuts that will eliminate its core programs and cut off communities like Syracuse. Despite an exceptional track record, profound results, and the hard-won support of Congress on both sides of the aisle, the White House is putting the CDFI Fund on the chopping block -- offsetting tax cuts for the wealthy by withdrawing resources for economic opportunity. 

Read our full Statement of Support below. Then, sign on and share your story! Help us tell our elected leaders how Cooperative Federal makes a difference for you and our community.

Cooperative Federal is proud to be a Community Development Financial Institution (CDFI), part of a nationwide movement that invests in affordable housing, small business, fair credit and ethical banking. We expand access to capital in low-income communities and banking deserts -- serving people that are left behind by mainstream lenders and building a future where EVERYONE can thrive. 
 
For 30 years, the US Treasury Department's CDFI Fund has provided critical support for Community Finance. The CDFI Fund certifies community lenders, provides capital to low-wealth communities, and makes grants to help CDFIs launch and scale-up programs. These funds have an immense impact: CDFIs have invested $8 in private capital for every $1 in public funding received, proving to be one of the federal government’s best market-based strategies for economic opportunity and community prosperity. To date the CDFI Fund has maintained strong bipartisan support because the results speak for themselves, pumping $38 billion per year* into urban, rural, and suburban communities in every state across the US. 
 
Cooperative Federal is deeply committed to Community Finance. In 2024 alone, our small, grassroots CDFI Credit Union provided $4.3 million in mortgage loans, $2.2 million in personal loans, and $1.5 million in micro and small business loans. Here in Syracuse, which suffers from one of the nation's worst poverty rates, these dollars help overcome the legacy of redlining and disinvestment that has stranded generations of people. More than 90% of our homebuyers were first-time buyers, and 93% of total lending was to low-income and low-wealth target markets. We pair these services with education and support, delivering financial education and counseling to nearly 1,200 people last year. Household by household and block by block, we're working to foster financial stability and give all people access to the American Dream. 
 
For the first time since its inception, the CDFI Fund is at risk of massive cuts that will eliminate its core programs and cut off communities like Syracuse. Despite an exceptional track record, profound results, and the hard-won support of Congress on both sides of the aisle, the White House is putting the CDFI Fund on the chopping block -- offsetting tax cuts for the wealthy by withdrawing resources for economic opportunity. 
 
But with CDFIs, a little bit goes a long, long way. We can preserve community finance with a FY26 budget appropriation of just $324 million, which is 0.02% of the federal discretionary budget proposed by the White House. 

Cooperative Federal's members, neighbors, and community partners know first-hand the incredible impact of community finance -- and the high cost our region will pay if federal resources are stripped from Syracuse neighborhoods. Together, we call on the US Senate and House of Representatives to stand up for Community Finance. 

*CDFI Coalition - CDFI FUND 30TH ANNIVERSARY REPORT
Action: Sign On

2. Don't Tax My Credit Union

Credit unions may provide similar services as banks, but we're NOT the same. We're member-owned, not-for-profit cooperatives that operate for the sole benefit of YOU, our members. Instead of earning profits for wealthy shareholders, we return our earnings in the form of lower fees, better rates on loans, and programs like financial counseling. 

Today there is a growing movement, led by Big Banks and Wall Street lobbyists, to impose new taxes on credit unions. But a tax on credit unions is really a tax on our members. This is urgent issue that threatens your financial health and the future of our credit union movement. Read more below, then visit the nationwide Action Center to tell Congress: Don't Tax My Credit Union. 

Right now, in Congress, there’s a growing push to impose new taxes on credit unions like Cooperative Federal. This proposal, backed by Big Bank and Wall Street lobbyists, would really mean a new tax on you and more than 140 million other people who rely on America’s credit unions.
 
Credit unions, unlike banks, are not-for-profit cooperatives with the sole purpose of helping our members. We return our earnings to members like you through lower-cost loans, reduced fees, and programs like free financial counseling and support for first-time homebuyers. Because we operate to serve you, not shareholders, we do not pay federal corporate income tax. We do, however, pay local taxes to support the communities where we work.
 
The new tax on credit unions would not only raise costs for individuals and hurt the economy – it would threaten the “people over profit” philosophy that has always been the heart of the credit union movement.
 
Stand Up to Big Banks
By putting a new tax on credit unions, the big Wall Street banks know they can eliminate competition and increase bank profits. Credit unions will have to charge more for their services and become more like banks, chipping away at the credit union difference. But it’s not fair to raise costs for people like you, just because you choose to keep your money in a credit union.
 
A Pivotal Moment
Big Banks have been pushing this credit union tax proposal for years. Strong, bipartisan support for credit unions has held them at bay. But now, Wall Street lobbyists are gaining traction with politicians who want to raise taxes on everyday people to fund tax breaks for the ultra-wealthy.  
 
Make Your Voice Heard
This is urgent – we need your help now. Use this easy Action Center to contact your U.S. Representative and Senators and tell them, Don’t Tax My Credit Union. It only takes 2 minutes to make your voice heard.
Action: Send a Message to Congress