Colorado 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

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Federal Income Taxes Paid by Credit Unions
Federal Income Taxes Paid Annually by an Average Colorado Resident Making $65,685/Year

$0

Federal Income Taxes Paid Annually by an Average Colorado Resident Making $65,685/Year

Fast Facts

  • The CEO of the Colorado-based Public Service Credit Union pocketed $11 million in 2010 alone. – Denver Post, April 2012
  • For $12.6 million, the Ent Federal Credit Union received naming rights for the performing arts venue at the University of Colorado. – Ent Credit Union press release, March 2015
  • For $37.7 million, Public Service Credit Union received naming rights to the new football stadium at Colorado State University. –  Colorado State University, April 2018