Something’s
WRONG
You’re told it your whole life: everyone has to pay their fair share. Taxes befall all Americans– from nurses to cashiers to teachers, who pay a combined billions in federal taxes.
But how much did credit unions pay? $0. That's right, $0. Something's WRONG.
How Credit Unions
Have Benefited
Credit unions used their tax exemption to avoid paying $3,993,929,818
in federal income taxes.
In 2022, credit unions held a grand total of
$2,190,185,662,965
in tax-free assets.
While it took credit unions 106 years to hit the $1 trillion asset threshold in 2015, they needed just six years to double in size and pass
$2 trillion in assets in 2021.
In your state, credit unions paid
$0
in federal income tax.
Meanwhile, teachers, nurses,
and cashiers paid millions.
How Credit Unions
Have Benefitted
Credit unions used their tax exemption to avoid paying $1,042,470,105.60
in federal income taxes.
In 2020, credit unions held a grand total of
$1,969,672,394,635
in tax-free assets.
Even as local businesses
struggled, credit unions used
$344,015,134.85
of their tax subsidy on
nonmember expenses.
In your state credit unions paid
$0
in federal income tax.
Meanwhile, teachers, nurses,
and cashiers paid millions.
