The Impact of Credit Unions on Wisconsin

Wisconsin 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.   One credit union, Connexus Federal Credit Union, is available to anyone for just a $5 membership fee. That’s nearly equal access to customers as traditional banks, with none of the same federal taxes paid.

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 Wisconsin Resident Making $67,355/Year


Federal Income Taxes Paid by Credit Unions


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

Recent News and Insights

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