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Banking at a teller window The credit union tax status is beneficial to more than members, CUNA states in new white paper. (Source: Shutterstock)

The benefits that credit unions provide their members far outweigh the cost of their tax exemption, CUNA argues, in an updated version of a white paper defending the credit union tax status.

“Credit unions provide substantial benefits to their members and indirect benefits to nonmembers,” CUNA said. “In 2018 alone, these benefits – which accrued to both directly to members and indirectly to bank customers – totaled more than $16 billion.”

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David Baumann


Credit Union Times

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