Credit union federal income tax exemption will cost the US over $24 billion by 2031.
American taxpayers are stuck with the bill.

See the impact in your state.

Key Statistics

$ 0

Average taxes paid by Americans in 2019. Paid by credit unions? $0.

0 %

Growth in assets for credit unions in 2020, as they seek more affluent customers.

$ 0 B

In bank assets bought up by credit unions over the last 10 years.

$ 0 M

Average bank size acquired by credit unions since 2019—nearly 3x the prior 7 years.

Learn more about the issue.

Large credit unions have lost their way. It’s time to level the playing field and hold them accountable.

Cost to Taxpayers

Credit unions pay no federal income taxes, leaving the rest of us to pick up the bill for their $1.9 trillion industry. The tax exemption made sense in 1934, but it doesn’t anymore.

Lack of Accountability

Credit unions talk about serving the underserved and protecting consumers, but do we know what they’re up to? Public accountability is scant, and examples of abuse are plentiful.

Abandoned Mission

Credit unions were formed during the Great Depression to help the poor access credit–and they received government supports to do so. Those supports are no longer necessary.

Unwarranted Advantage

Credit unions take advantage of their privileged tax status to buy tax-paying banks, expand market share, and fuel unbridled growth, while no longer targeting people in need. Why does a $1.9 trillion industry need a free ride?

Cost to Taxpayers

Credit unions pay no federal income taxes, leaving the rest of us to pick up the bill for their $1.9 trillion industry.

Abandoned Mission

Credit unions were formed during the Great Depression to help the underserved access credit. That mission is long gone.

Unwarranted Advantage

Credit unions exploit their privileged tax status to buy tax-paying banks and expand their market share beyond what's fair.

Lack of Accountability

Credit unions claim they serve the underserved and protect consumers, but how do we know what they're actually doing?

Tell Congress it’s time to reform credit unions.