The Impact of Credit Unions on Rhode Island
Rhode Island 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.
Navigant Credit Union
is the largest credit union in Rhode Island with$3.8BASSETSLarger than 71% of Rhode Island-headquartered banks
Navigant Credit Union
should have paid$4.4MIN TAXESInstead, they paid $0
Taxes Paid in 2022
