The Impact of Credit Unions on Texas
Texas 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 .1 billion a year, while taxpayers in every state pick up the tab.
Randolph-Brooks Federal Credit Union
is the largest credit union in Texas with$18.0BASSETSLarger than 99% of Texas-headquartered banks
Randolph-Brooks Federal Credit Union
should have paid$45.5MIN TAXESInstead, they paid $0
Taxes Paid in 2022
