The Impact of Credit Unions on New Jersey
New Jersey 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.
Affinity Federal Credit Union
is the largest credit union in New Jersey with$4.3BASSETSLarger than 95% of New Jersey-headquartered banks
Affinity Federal Credit Union
should have paid$456,495,000IN TAXESInstead, they paid $0
Taxes Paid in 2022
