The Impact of Credit Unions on Maine

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.

Key Statistics

$9,481

Federal Income Taxes Paid Annually by an Average Maine Resident Making $66,546/Year

$0

Federal Income Taxes Paid by Credit Unions

Recent News and Insights

Tell Congress: It’s time to reform credit unions.