Congress is considering a proposal that would require financial institutions such as Premier Credit Union to report to the Internal Revenue Service (IRS) on any activity for accounts with balances over $600. It is our duty to keep your financial data private and secure, and this raises many concerns for us!
How does this affect you?
- If enacted, credit unions and banks will be forced to provide the government with your personal financial information, regardless if it reflects taxable activity.
- More regulations put upon financial institutions could mean more policing of members and account holders, potentially making access to funds harder – especially for those overseas.
- Having private financial data in a place other than a financial institution makes the information more susceptible to breaches.
How can you help?
You can make your voice heard! The link below will take you to a landing page that the Credit Union National Association (CUNA) has created to help combat this irresponsible proposal.
On this page you will find pre-written letters that will reach our local legislators. All you need is to provide your name and address and the forms will automatically be directed to the representatives and senators in your specific area. The more officials we can inform, the better!
It is our commitment to you that we update our membership on any legislation that affects you or your personal information. Please help us in our efforts to stop the IRS from looking at your accounts! We thank you in advance for your assistance.
Premier Credit Union