Missouri 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 Missouri Resident Making $51,746/Year

$0

Federal Income Taxes Paid Annually by an Average Missouri Resident Making $51,746/Year

Fast Facts

  • Vantage Credit Union had to pay $28 million in a class action lawsuit after reports that 3,000 people complained over allegedly faulty repossession notices. – Missouri Lawyers Weekly, January 2014
  • Anheuser-Busch Employees’ Credit Union and its divisions, American Eagle Credit Union and Purina Credit Union, finalized the purchase of a state-of-the-art corporate headquarters, listed at $10.75 million. – CUInsight, June 2017