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Internal Revenue Service, Washington D.C.

The IRS has revoked the tax-exempt status of a financially troubled California credit union.

The $590,634 Jones Methodist Church Credit Union in San Francisco, chartered in 1953 for its members who were being redlined or charged with unfair interest rates by banks, had its tax-exempt status automatically pulled on May 15, 2017 after the cooperative failed to file its Form 990 for three consecutive years.

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Peter Strozniak

Credit Union Times

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