Damages Caused by Credit Unions

The Independent Community Bankers of America and the nation's community banks are calling on policymakers and the public to “Wake Up” to the risky practices, costly tax subsidies, and irresponsibly lax oversight of the nation’s credit unions. Credit unions have cost American taxpayers trillions. State governments have also been hit hard. 

Below you'll find individual reports that show how credit unions have exceeded their original mandate and how that unchecked growth has negatively affected local communities across every state. 


Find your state

Charts

Did you know credit unions in your state used their tax exemption to avoid paying

 

in federal income taxes in 2018?

House

In 2018, credit unions across your state held a grand total of

 

in tax-free assets.


Money Bags

Even as local businesses struggled, credit unions in your state used

 

of their tax subsidy on non-member expenses.

People

The lost tax revenue from state credit unions would pay for