The Impact of Credit Unions on Wisconsin

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.

Key Statistics

$11,367

Federal Income Taxes Paid Annually by an Average Wisconsin Resident Making $67,355/Year

$0

Federal Income Taxes Paid by Credit Unions

3

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.