Illinois Bankers Association

Illinois Credit Unions Information | Illinois Bankers Association

Here are the facts:

  • The Illinois credit union industry has grown from $724 million in assets in 1967 to $46.7 billion in assets in 2019, a stunning increase of 6450%.

  • Of the 254 credit unions in Illinois, the 16 largest each have over $500 million in assets, larger than all but a relatively few Illinois banks.

  • These 16 largest credit unions dominate the state industry in asset size. They represent nearly $36 billion in combined assets -- 77% of all credit union assets in Illinois. 

  • Credit unions, awash in cash because of their tax exempt status, have acquired 21 banks since 2018, including three announced bank acquisitions in Illinois.

Credit Unions End the Free Ride

New Resources

From Church Basement to Conglomerate, September 2019

Credit Unions Fall Short of Their Mission Study, June 2019

Credit Unions by the Numbers Study, May 2019 

Credit Union Talking Points for your staff, your community and your legislators, 2019

Keith Leggett's Credit Union Watch Blog

Council for Sound Tax Policy Website #NoMoreFreeRides Ad Campaign

Share Your story!

Contact your legislators and ask why credit unions don't pay taxes, while businesses and families like yours pay their fair share.   Legislator Look-Up

Send the IBA your examples of credit union issues or ads:  ilbanker@ilbanker.com