The Impact of Credit Unions on California
California Credit unions’ federal tax exemption no longer serves its purpose as the industry moves even further away from its mission of providing consumer-focused financial services to people of modest means.Credit unions deprive the U.S. Treasury of .1 billion a year, while taxpayers in every state pick up the tab.
SchoolsFirst Federal Credit Union
is the largest credit union in California with$29.2BASSETSLarger than 97% of California-headquartered banks
SchoolsFirst Federal Credit Union
should have paid$35.03MIN TAXESInstead, they paid $0
Taxes Paid in 2022
