Wisconsin 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.
- South Central Bank (Chicago, IL) officially acquired by Verve, a Credit Union (Oshkosk, WI). - Credit Union Watch, January 2020
- Wisconsin’s $1.6 billion Connexus Federal Credit Union is available to anyone that just pays a one-time fee of $5 to join the “Connexus Association.” – Connexus Credit Union
- In 2013, the Wisconsin Office of Credit Unions approved applications from Westconsin Credit Union in Menominee seeking two exceptions from the state’s Member Business Loan (MBL) regulation, allowing them to expand their sevices further. – NCUA 2013 press release