The Impact of Credit Unions on West Virginia
West Virginia 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.
Bayer Heritage Federal Credit Union
is the largest credit union in West Virginia with$857MASSETSLarger than 96% of West Virginia-headquartered banks
Bayer Heritage Federal Credit Union
should have paid$1.14MIN TAXESInstead, they paid $0
Taxes Paid in 2022
