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Why You Need to Contact Your Lawmaker Today

A new IRS proposal, which has not yet been enacted into law, could affect your accounts.

As Congress considers new infrastructure spending, lawmakers are considering unconventional sources of revenue to fund their plans. One proposal under consideration would require financial institutions like Listerhill (as well as other financial institutions such as banks) to report to the Internal Revenue Service (IRS) many activities on accounts with balances over $600. Such an unprecedented grab of your personal financial data raises several concerns. 

  • This proposal would violate the personal privacy of consumers like you by forcing credit unions and other financial institutions to provide the government with information that does not reflect taxable activity.  
  • Financial institutions—particularly those in rural and low-income communities—would face a new and expensive regulatory burden that could make it untenable to serve those consumers already left behind by Wall Street banks.   
  • The government relies on decades old data systems to store and secure IRS information. These systems have already been compromised in recent years, and the addition of this type of data only increases the likelihood of a future breach of your personal financial information. 

What We Need from You

This proposal is not currently in effect. At Listerhill, we value civic engagement and believe it’s our duty to inform you when legislation is being discussed that could directly affect you.

Please consider lending your voice to this important effort—click on  this link to learn more and send an e-mail to your U.S. Representative.

Tell Congress to reject this new IRS reporting provision.

Have questions? Reach us here.

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Frequently Asked Questions

  • How do I qualify for membership at Listerhill?

    To qualify for membership with Listerhill, you must meet one of the following requirements:

    • If you live in the states of Alabama, Georgia, Mississippi, or Tennessee, you are eligible to become a member.
      • Depending on your individual eligibility requirements, we may require membership into an approved association at no cost to you.
    • You can also qualify for membership by being a family member of a current or potential Listerhill member.
  • If you do not live in qualifying counties or states

    You can qualify for membership by being a family member of a current or potential Listerhill member.

  • If you do not live in qualifying counties

    If you do not live, attend school, own property, or work in the qualifying counties (listed above), you can become a member by joining an approved association (at no cost to you) if you reside in Alabama, Georgia, or Tennessee.

  • If you do live in qualifying counties

    You must live, attend school, own property, or work in qualifying counties:

    • Lauderdale County, AL
    • Colbert County, AL
    • Franklin County, AL
    • Marion County, AL
    • Winston County, AL
    • Cullman County, AL
    • Limestone County, AL
    • Lawrence County, AL
    • Morgan County, AL
    • Lamar County, AL
    • Fayette County, AL
    • Walker County, AL
    • Maury County, TN
    • Spring Hill, Williamson County, TN
  • Is there a Listerhill branch in Athens?

    Our Listerhill branch in Athens, Alabama is under construction will be open and ready to serve you in spring 2022! Until then, our closest branch to the Athens, AL area is in Rogersville.