The Impact of Credit Unions on Minnesota

Minnesota credit unions’ federal tax exemption no longer serves its purpose as the industry moves even further away from its mission of providing consumer-focused financial services to people of modest means.

Credit unions deprive the U.S. Treasury of $3.1 billion a year, while taxpayers in every state pick up the tab.

Key Statistics


Federal Income Taxes Paid Annually by an Average Minnesota Resident Making $81,426/Year


Federal Income Taxes Paid by Credit Unions


Total Number of Banks Acquired by Credit Unions in Minnesota Since 2010

Recent News and Insights

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