The Biden family may have moved into the White House, but some of their money may remain at the other end of Pennsylvania Avenue—in the U.S. Senate Federal Credit Union.
President Biden, a former senator from Delaware, and his wife, Jill, released their 2020 federal and state tax returns this week. And in the section on “Interest Income,” the Bidens said they received $4,363 in interest in 2020 from the credit union. The Bidens received $5,930 in interest from all bank accounts.
The Senate credit union has almost $1.2 billion, with 41,539 members, according to the National Credit Union Administration.
The Bidens also are members of another credit union—the edU Federal Credit Union, which formerly was the New Castle School Employees Credit Union. Jill Biden formerly taught public school in Delaware. They listed only $1 in interest from that credit union.
The Delaware credit union has 10,352 members, with almost $50 million in assets.
Vice President Harris and her husband, Douglas Emhoff, also released their tax returns, but did not list credit union membership.
Needless to say, credit union trade group officials said they are thrilled to have credit union members in the White House.
“It’s always great to see when our nation’s leaders leverage the bountiful resources that credit unions have to offer,” Credit Union National Association Chief Advocacy Officer Ryan Donovan said.
“We are thrilled President Joe Biden and First Lady Jill Biden are proud credit union members,” said a National Association of Federally-Insured Credit Unions spokesperson. “Credit unions have peoples’ best interests at heart, and that is why nearly 125 million Americans have joined a credit union to date – including the President and the First Lady.”