The Impact of Credit Unions on Maryland
Maryland Credit unions’ federal tax exemption no longer serves its purpose as the industry moves even further away from its mission of providing consumer-focused financial services to people of modest means.Credit unions deprive the U.S. Treasury of .1 billion a year, while taxpayers in every state pick up the tab.
State Employees Credit Union of Maryland
is the largest credit union in Maryland with$5.3BASSETSLarger than 87% of Maryland-headquartered banks
State Employees Credit Union of Maryland
should have paid$11.1MIN TAXESInstead, they paid $0
Taxes Paid in 2022
