Friday, April 18, 2014

Vystar Credit Union

Vystar Credit Union is a $4.9 billion in assets credit union headquartered in Jacksonville, Florida. The credit union reported net income (profits) of almost $50.2 million and paid NO corporate income taxes.


  1. and your point is?

  2. They seem to qualify to be a tax free SubChapter S Bank.

  3. I would not object to them being taxes like a pass through entity. The members would be responsible for the taxes on the undistributed profits.

    1. Credit union people who use the counter argument of sub chapter S are a funny lot.
      They don't know how stupid Cuna makes them sound.
      Instead of looking into whether it's true or not, they simply repeat it, I guess that why there is the phrase, "parroting the party line".
      Could explain it but what's the point.
      Anonymous want a cracker??



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