Wisconsin 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. 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 $2.6 billion a year, while taxpayers in every state pick up the slack.
