The Impact of Credit Unions on New York
New York 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.
Bethpage Federal Credit Union
is the largest credit union in New York with$12.9BASSETSLarger than 90% of New York-headquartered banks
Municipal Credit Union
should have paid$15.0MIN TAXESInstead, they paid $0
Taxes Paid in 2022
