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Facts about Credit Unions:

• Credit unions’ boards of directors serve as unpaid volunteers, elected by members.

• 40% of all Americans are credit union members. This equates to 96 million credit union members.

• Credit unions only hold 6% of America’s total financial assets. The rest belongs to banks.

• For every $1 in new credit union taxes, the government wipes out $10 in member benefits.

• If credit unions paid income tax, the contribution to the state and federal treasuries would make not one penny difference in the taxes you pay as an individual. But the effect such taxes would have on how much you pay for credit union loans for cars, education, and houses, or the dividends you earn on credit union savings, would be significant.

The credit union is federally insured by the NCUA. Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.
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