Credit Unions Poach Clients...

[merrylander]

Originally Posted by whell

Remember that credit unions don't pay corporate income taxes. That's one reason that their cost structure is different. Their interest rates for both personal savings accounts as well as loans are generally less aggressive than the big banks or specialty loan companies, and there are caps on the size of loans that CU's can issue. Less revenue, but also lower potential costs.

I would be curious to know exactly how much corporate income tax B of A paid last year. I would also be curious to know if they paid back we taxpayers for the bail out.