The Impact of Credit Unions on South Dakota
South Dakota 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.
Black Hills Federal Credit Union
is the largest credit union in South Dakota with$2.3BASSETSLarger than 92% of South Dakota-headquartered banks
Black Hills Federal Credit Union
should have paid$3.3MIN TAXESInstead, they paid $0
Taxes Paid in 2022
