Arizona Credit Unions' Free Ride

Although they portray themselves as mom and pop shops for people of modest means, today credit unions are a $1.3 trillion industry, with many indistinguishable from banks. The BIG difference – they don’t pay federal income taxes, depriving the U.S. Treasury of roughly $2 billion every year.

Federal Income Taxes Paid by Credit Unions

$0

Federal Income Taxes Paid by Credit Unions
Federal Income Taxes Paid Annually by an Average Arizona Resident Making $53,558/Year

$0

Federal Income Taxes Paid Annually by an Average Arizona Resident Making $53,558/Year

Fast Facts

  • Arizona’s OneAZ Credit Union plans to open multiple branches as part of a plan to double its Assets in the next five years.- Phoenix Business Journal, March 2017
  • Arizona State Credit Union has a five-year partnership with the The Northern Arizona University Athletics Department. – Northern Arizona University Athletics, June 2015
  • Arizona Federal Credit Union charges $3/month for membership, yet they are one of the most profitable credit union’s in the nation because of how wide their membership is. – Credit Union Watch, August 2014