Montana credit unions paid $33.4 million in federal and state taxes in 2020. Montana credit union members paid an additional $5.1 billion in federal and state income taxes.
Supporting Local Nonprofits
Grasslands Federal Credit Union, which serves 13 counties in rural, eastern Montana, provided a welcome cushion for both businesses and nonprofits when it opted to participate in the Paycheck Protection Program this spring. The credit union able to write $1.78 million in loans (half of them were under $10,000). In addition, Grasslands decided to use its origination fees to fund grants to local nonprofits, who were hit hard by COVID but ineligible for PPP loans.