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re: Credit unions, are they worth it?
Posted on 7/18/13 at 4:44 pm to yellowfin
Posted on 7/18/13 at 4:44 pm to yellowfin
quote:Banks pay corporate income taxes. Credit unions don't.
I haven't found a bank that will even consider matching PenFed's rates
That is my only complaint about credit unions. They should pay taxes just like banks do.
Or, banks should not have to pay taxes. That would work, too....
3
Posted on 7/18/13 at 8:34 pm to LSURussian
quote:
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. 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.
This post was edited on 7/18/13 at 8:35 pm
Posted on 7/18/13 at 8:38 pm to LSURussian
They pay tax of their profit 
Posted on 7/19/13 at 10:23 am to LSURussian
quote:
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.
Or, banks should not have to pay taxes. That would work, too...
They work off of different laws. bullshite imo. With that said, I worked at a bank and used a credit union to do my banking.
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