Washington 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.
- Numerica Credit Union (Spokane Valley, WA) bought the naming rights to the Pavilion at the Southridge Sports and Events Center in Kennewick, Washington. The credit union will pay $680,000 for the naming rights agreement. - Credit Union Watch, May 2019
- The $17.1 billion Boeing Employees Credit Union serves anyone who lives, works, worships, or attends school in Washington State. – BECU Online
- In March 2018, Washington Governor Jay Inslee signed a bill into law granting local governments the ability to invest unlimited public funds deposits in credit unions. The new law will allow municipalities in 34 of Washington’s 39 counties to place public funds in excess of the insured deposit limit in credit unions. – Substitute House Bill 1209, March 2018
- In 2013, Washington state enacted legislation so that state chartered credit unions can pay directors and supervisory committee members for their services. – Credit Union Watch, October 2013