Indiana 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 Indiana Resident Making $52,314/Year

$0

Federal Income Taxes Paid Annually by an Average Indiana Resident Making $52,314/Year

Fast Facts

  • Teachers Credit Union partnered with Pacers Sports and Entertainment to earn naming rights to the Bankers Life Fieldhouse – used by the Indiana Pacers and the Indiana Fever. – Credit Union Watch, October 2015
  • In 2015, Lakeside Credit Union, worth $8.9 million was liquidated and then acquired by the Teachers Credit Union. – Credit Union Watch, July 2015
  • In 2016, Indiana Members Credit Union began its sponsorship of the Indianapolis Indians. – Credit Union Watch, April 2016