The Democrats Abroad Taxation Task Force focuses its efforts not just on tax, but also financial access issues faced by Americans abroad.
After years of raising with Congress the difficulties Americans abroad face in accessing U.S. banking services, Democrats Abroad has taken action into our own hands. Democrats Abroad has become a group member of State Department Federal Credit Union (SDFCU). Democrats Abroad is now the first and only Americans abroad organization that is both free to join and provides its members with a free pathway to apply for membership with SDFCU.
For many years, we have heard from Americans abroad facing barriers to accessing U.S. banking products and services. Many Americans living outside the United States still require access to U.S. banking for a wide variety of reasons, from receiving retirement income to making U.S. federal student loan payments.
In extreme circumstances, we have heard from Americans abroad who have faced barriers, being unable to cash much needed IRS refund checks to not being able to add a non-U.S. spouse as a beneficiary to a U.S. retirement account. Some have even had to fly to the United States to claim funds owed to them. All U.S. citizens should have access to at least a basic U.S. bank account to maintain a normal financial life, including Americans living abroad.
Democrats Abroad members can find out more about the services SDFCU offers here: https://www.democratsabroad.org/sdfcu_credit_union_for_americans_abroad
And can apply for SDFCU membership on their website here: https://www.sdfcu.org/membership
We will also be hosting two webinars with SDFCU about its services on September 10. RSVP here: https://www.democratsabroad.org/sdfcuwebinars
In the future, we’d like to build on this progress by expanding access to other U.S. credit unions, giving Democrats Abroad members more choice rather than relying on a single institution. For now, we see this as an important first step and a meaningful advocacy win for Democrats Abroad.
