Wyoming 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 Wyoming Resident Making $59,882/Year

$0

Federal Income Taxes Paid Annually by an Average Wyoming Resident Making $59,882/Year

Fast Facts

  • NCUA raised the population threshold for a rural district from 250,000 to 1 million under its new field of membership rule. This makes the entire state of Wyoming a rural district even though Wyoming has a population of 585,501 and more than half of its residents reside in urban areas. – Credit Union Watch, January 2018
  • A proposed merger between Denali Federal Credit Union and NuVision Credit Union would create a $2.2 billion credit union with branches in the five states of Alaska, Washington, Arizona, California and Wyoming. – Credit Union Journal, March 2018