The Impact of Credit Unions on Iowa
Iowa 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.
Meritrust Federal Credit Union
is the largest credit union in Iowa with$7.5BASSETSLarger than 99% of Iowa-headquartered banks
GreenState Credit Union
should have paid$7.2MIN TAXESInstead, they paid $0
Taxes Paid in 2022
