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Do credit unions pay taxes?
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Article Information
Article Information
KBID
286
Date Created:
9/17/2010
Date Modified:
9/17/2010
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Credit unions pay payroll, property and sales taxes as well as various licensing fees. By law, they are exempt from paying income tax because all monies earned after operating expenses and setting aside statutory reserves are returned to members. As not-for-profit institutions, they return excess earnings to members rather than an outside group of stockholders in the form of higher savings rates, lower loan rates, and lower or no fees. Big or small, every credit union shares this not-for-profit structure and service-oriented philosophy of not-for-profit, not for charity, but for service.
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Do credit unions pay taxes?
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WARNING:
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DO NOT CONTINUE
and contact us immediately.
Email
Please enter your email address.
Please enter a valid email address.
Confirm Email
Please enter your email address.
The email addresses entered don't match. Please correct.
Password
Password not entered
Please choose a password composed of 6 to 20 varied letters, numbers and special characters, without whitespace characters or any of the following special characters: ' " / \ < >
Retype Password
The retype password must be the same as new password to confirm your password change. Please re-enter the retype password.
First Name
You must supply a first name.
Last Name
You must supply a last name.
Birthdate
(mm/dd/yyyy)
You must enter a birthdate.
The birthdate entered is invalid.
The birthdate entered is invalid.
Company
WARNING:
Password Security Question
Name of High School graduated from
Last name of favorite teacher
Son's middle name
Daughter's middle name
Pet's name
Square footage of home
First girlfriend's/boyfriend's name
What city were you born in?
On what street did you grow up?
What is your mother's maiden name?
What was your high school mascot?
Password Security Answer
You must provide an answer to the password security question in order to recover your password if lost.
Favorite Color
To improve security, you must provide a favorite color.
Terms of Use
I agree to the terms of use.
Connection CU values your privacy and will protect your information. We will not sell or share your information with anyone outside of Connection. Registration only requires that you provide a few key pieces of information. When setting up your profile, you will be given the option to opt-out of receiving any promotional information from us via email. We thank you for taking the time to register with us.
Your inquiry is being encrypted to protect your privacy.