Two N.M. Lawmakers Back Credit Union Tax Exemption in 10 Day Span

WASHINGTON-New Mexican Republican Representatives Heather Wilson and Steve Pearce each sent individual letters to CUNA President and CEO Dan Mica, care of the Credit Union Association of New Mexico, supporting credit unions' tax-exempt status. "Credit Unions play an important part in our economy, providing services to business, individuals, and communities," Wilson wrote in the March 28 letter. "The loan opportunities for business expansion or the purchase of a first home can be witnessed throughout communities in New Mexico." Wilson concluded, "I support the tax-exempt status of credit unions. I appreciate working with the credit union representatives in New Mexico and their efforts to keep me informed of issues important to them and their membership." "Having a letter like this from the congresswoman is a testament to the strong relationship we have built with her over the years," CUANM President and CEO Sylvia Lyon commented. On April 6, CUANM also received a letter of support Congressman Steve Pearce (R). "I support strongly the tax-exempt status of credit unions, and will continue to emphasize the vital contributions that credit unions make to our economic system," he wrote. Pearce concluded, stating, "I have always been a strong supporter of the credit unions and will continue to show my support by opposing any efforts to eliminate the federal tax exemption for credit unions." CUANM is actively working with all five of New Mexico's congressmen and senators to secure their support for credit unions' tax-exempt status. The league is also expecting a letter from Congressman Tom Udall (D), but is still working on commitments from their two senators, according to CUANM Communications Director Jodi Garber-Simon.