Delaware 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 Delaware Resident Making $61,757/Year

$0

Federal Income Taxes Paid Annually by an Average Delaware Resident Making $61,757/Year

Fast Facts

  • Federal Credit Union (SCFCU) used a foundation to increase membership eligibility. – Credit Union Watch, January 2016
  • Del-One paid $500,000 for the naming rights to a conference center at Delaware Technical Community College’s Terry campus.- Delaware Tech press release, October 2016