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If Punxsutawney Phil were a banker, he’d wake up every February 2nd, see his shadow, and complain—once again—that credit unions don’t pay federal income taxes. Just like Bill Murray’s character in Groundhog Day, bankers keep hitting the snooze button and repeating the same tired argument year after year, decade after decade.

WASHINGTON– The Defense Credit Union Council has requested a meeting with members of the House Ways and Means Committee to discuss the “critical” importance of maintaining credit unions' federal tax-exempt status.

ALEXANDRIA, Va.--NCUA issued one prohibition notice in January 2025, the agency said.

DUBLIN, Calif.—The California Department of Financial Protection and Innovation (DFPI) has issued a consent order against $9.5-billlion Patelco Credit Union for cybersecurity violations, the DFPI announced.