MADISON, Wis. – A new survey conducted by the Wisconsin CU League has found 80% of registered voters said Wisconsin credit unions should be exempt from state and federal corporate income taxes because they are non-profit cooperatives.
According to the league, the 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 league further reported 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.
The Findings
Other findings:
- 79% of survey respondents agreed that credit unions are much more likely than banks to care about people more than profits
- 72% agreed that credit unions offer the best deals for consumers
- 73% of respondents agreed that credit unions provide financial services to many people who otherwise would not have access
- 67% agreed that credit unions provide services to many small businesses that would otherwise not have access to those services
Know the Difference
“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 WCUL 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%.