Navy Federal is a great credit union.
keep it local
Credit unions, are they worth it?
quote:Banks pay corporate income taxes. Credit unions don't.
I haven't found a bank that will even consider matching PenFed's rates
Banks pay corporate income taxes. Credit unions don't.
That is my only complaint about credit unions. They should pay taxes just like banks do.
why? they are not for profit. .
quote:This makes no sense. Neither of those is a tax.
The profits are sort of like they are taxed since they are returned to the members in the form of lower rates and higher dividends.