Help stop intrusive government proposal

This proposal will require credit unions to report deposits and withdrawals of $600 or more to the IRS regardless of consent.

While Missouri Credit Union does not normally engage in political topics, we feel there is an CRUCIAL matter pending in Congress that needs your IMMEDIATE attention.

You are important to us and we want you to know the facts, especially when it relates to concerning developments around public policy that expose your financial privacy.

The Biden administration proposed requiring all credit unions, banks, and other financial institutions to report to the IRS on all deposits and withdrawals through personal accounts regardless of tax liability. This indiscriminate, comprehensive financial account reporting to the IRS can soon be enacted in Congress and will create a significant invasion of privacy to you our members.

Why should you be concerned?

  • If passed, the proposal will require the financial intstitutions like Missouri Credit Union to report deposits and withdrawals of $600 or more, on personal savings, transactional, loan, and investment accounts to the IRS regardless of member’s consent.
  • There are numerous concerns surrounding maintaining privacy and data security of your information.

What you can do -

Your credit union works for you, our members, not the IRS. We encourage you to join us NOW in telling your representatives that the proposed IRS bank account profiling is indiscriminate and intrusive.

Take Action Now