The below dashboard illustrates how the unchecked growth and tax-exempt status of credit unions have negatively affected local communities across every state.
See the report for all of the United States
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Because of their tax advantage and relaxed field of membership regulations, credit unions have begun to acquire community banks in order to fuel their growth. This trend should concern taxpayers.
If credit unions cannot abide by their original mandate deserving of a tax subsidy, then taxpayers are financing an unequal playing field that leaves behind the financially underserved, cheats federal and state tax authorities, and unfairly disadvantages legitimate for-profit institutions like community banks.
