Arkansas 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 Arkansas Resident Making $44,334/Year

$0

Federal Income Taxes Paid Annually by an Average Arkansas Resident Making $44,334/Year

Fast Facts

  • Arkansas Federal Credit Union was approved a community charter conversion for Red River Employees FCU of Texarkana, which includes 11 Arkansas counties and 13 Texas counties. It stretches from Hot Springs, Arkansas to the the eastern suburbs of Dallas, Texas. With a land area of almost 15,000 square miles, this geographic region would be the 10th largest state, if it was a state. – Credit Union Watch, March 2014