Ohio 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.
- Day Air CU Buys Naming Rights to Minor League Ballpark. - Dayton Daily News, January 2020
- In 2016, Cory Methodist Church Credit Union of Cleveland, Ohio merged into Eaton Family Credit Union of Euclid, Ohio. – NCUA press release, September 2016
- In 2016, the Dayton City Commission approved CODE Credit Union to buy land on Liberty Street for just $10, saying the purchase was in the public interest. CODE Credit Union plans to build a two-story, 8,600 square foot building on the lot at the cost of $2.4 million. – Credit Union Watch, July 2016
- Montgomery County Credit Union of Dayton was conserved in 2015 after allegations of poor management and mishandled money, leading to approximately $1.3 million net losses. Later, the Montgomery County Credit Union was merged into Bridge Credit Union of Columbus. – Credit Union Watch, April 2015
- PEF Federal Credit Union, Lithuanian Credit Union, and Polish Combatants Credit Union are just some of the smaller credit unions that have closed in Ohio due to competition from credit unions that have merged to become much larger entities with more resources and services.