Maine credit unions’ free ride on federal income taxes doesn’t make sense anymore, and their once-justified special treatment comes at a cost to the American people. For example, the $383 million Maine State Credit Union is larger than over half of all tax-paying banks in the country—an obvious unlevel playing field.
Credit unions deprive the U.S. Treasury of $2.6 billion a year, while taxpayers in every state pick up the slack.
