Arkansas 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.
- Arkansas Federal Credit Union was approved a community charter conversion for Red River Employees FCU of Texarkana, which includes 11 Arkansas counties and 13 Texas counties. It stretches from Hot Springs, Arkansas to the the eastern suburbs of Dallas, Texas. With a land area of almost 15,000 square miles, this geographic region would be the 10th largest state, if it was a state. – Credit Union Watch, March 2014