Georgia 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.
- The $620 million First Commerce Credit Union in Tallahassee, Fla. revealed plans to purchase and assume certain assets and liabilities of the $248 million Citizens Bank in Nashville, Ga. - CU Times, September 2019
- SRP Federal Credit Union, worth $851 million, acquired Southern Bank, worth $80 million. – The Augusta Chronicle, April 2018
- LGE Community Credit Union, worth $1.27 billion, recently acquired Georgia Heritage Bank, worth $94.7 million. – CUInsight, March 2018
- Georgia United Credit Union has a five-year sponsorship agreement with Georgia Athletics. – Georgia United press release on CUInsight, January 2018
- $2.3 billion Georgia’s Own Credit Union recently acquired State Bank of Georgia, worth $90.1 million. – Credit Union Journal, November 2017