Unwarranted Advantage

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? 

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Expert Views

Karen Shaw Petrou, Federal Financial Analytics, Inc.
“Credit-union regulation is often premised on profit maximization, not mission compliance....”  
— Federal Financial Analytics, Inc, 2019
Rob Taylor, Idaho State University Credit Union
“I have colleagues from other small credit unions who share my frustrations. The problem with our movement is most of us have been indoctrinated to believe our common enemy are bankers when in fact the real threat to our future lies within our own industry. If taxation is in our future, then let it be with the large bank-like credit unions, so the entire movement doesn’t suffer from the actions of a few.” 
— Credit Union Journal, 2021

Recent News and Insights


The University of Kentucky Federal Credit Union (UKFCU) and JMI Sports, UK’s multimedia rights partner, have announced a naming rights partnership with the university for the esports complex in The Cornerstone, a new multiuse facility now under construction at the corner of South Limestone and Winslow Street on campus.


Alaska USA Federal Credit Union (Anchorage, AK) and TCF National Bank, a subsidiary of TCF Financial Corporation (Wayzata, MN), announced on January 8 that Alaska USA has signed a definitive agreement to acquire TCF Bank’s seven branches located in the greater Phoenix, Arizona market, along with deposits and certain related assets.

See the impact on taxes in your state.

Tell Congress it’s time to reform credit unions.