Recent News

10

Jul

Setting the record straight regarding credit unions and taxes

James A. Hughes, president of Unity Bank, recently penned an Industry Insights blog for NJBIZ entitled “It’s time for credit unions to pay their fair share.” There is a simple reason why credit unions do not pay taxes — they are member-owned, not-for-profit financial cooperatives that have numerous restrictions placed on them that banks do […]

8

Jul

Another View: Credit unions are good for California

Nothing brings residents and fans together like the construction of a world-class downtown arena, a visible symbol of the region’s economic and cultural revival. The community continues to celebrate the historic announcement of a 20-year partnership between the Sacramento Kings and Sacramento’s own Golden 1 Credit Union.

8

May

Why Credit Unions Are Tax Exempt

Why Credit Unions Are Tax Exempt – Credit unions don’t pay federal income tax because we are not-for-profit financial cooperatives…

15

Apr

Differences Between Credit Unions and Banks Explained

What’s the difference between a traditional bank and a credit union? Well, think of it this way; banks are businesses owned by shareholders, credit unions are not-for-profit money cooperatives owned by those who belong to the credit union.

13

Apr

Credit Union Membership…Much More Than Ownership!

You’re part of a credit union–wonderful! But what, exactly, does that mean? How will it affect your day-to-day life? What does credit union membership mean for your checking account, your auto loan, and your financial future?