Credit Unions: Have They Lost Their Way?

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

Find your state


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


in federal income taxes in 2018?


In 2020, 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.


In your state credit unions paid $0 in federal income tax.

Nurses paid:  
Cashiers paid:  
Teachers paid:  

Latest News

NCUA considering ICBA-opposed subordinated debt today

Mar 16, 2023 | NewsWatch Today
With the National Credit Union Administration meeting today on a rule to relax restrictions on issuing subordinated debt, a former NCUA official raised concerns in a recent blog post.

ICBA’s Bolton: ‘Regulatory blind spot’ shows risks of credit union bank purchases

Feb 9, 2023 | NewsWatch Today
ICBA Chairman Brad Bolton wrote in a new op-ed that the nation’s chief credit union regulator recently hinted at one of the problems with the growth of credit union acquisitions of community banks: the threat to U.S. cybersecurity.

NCUA extends credit union interest rate ceiling

Jan 27, 2023 | NewsWatch Today
The National Credit Union Administration board voted to extend the 18% interest rate ceiling for loans made by federal credit unions through Sept. 10, 2024.

White Papers

Credit Union Merger White Paper

Credit Union Merger White Paper

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.

Read the report

Exempt White Paper

Do They Know They're Tax Exempt?

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.

Find out more