Utah 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.
- Mountain America Credit Union (Sandy, UT) is being sued for alleged improper overdraft (OD) practices.
The complaint claims that the credit union routinely assessed overdraft fees on debit card transactions that did not actually overdraw the checking account. - Credit Union Watch, June 2019
- In 2017, Southern Utah University Centrum Arena received a new name. The university announced a $1.5 million,10-year agreement with America First Credit Union that includes the naming rights to the arena. – Deseret News, September 2017
- In 2013, Utah’s America First Credit Union became the new presenting sponsor for the NBA Utah’s Jazz professional dance team. The price of the sponsorship was not disclosed. – NBA, October 2013
- In 2010, the Coalition of Religious Communities, a social justice advocacy group, charged eight Utah-based credit unions of offering predatory payday loan-type products to members and wants the credit unions to stop offering these products. – The Salt Lake Tribune, 2010