In voting for the sale, SAFCU members got $350 each. But the CEO got an agreement for five years of salary plus a three-year buyout. – CU Today, October 2020
Large credit unions use their unjustified tax advantage to fuel bank-buying sprees that take tax-paying businesses off tax rolls at community expense, and expand into new higher-income markets to drive more deposits, higher profits, and customer growth. With 404 credit unions each holding more than $1 billion in assets and approaching 500 is it fair for these large credit unions to be beneficiaries?