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2014 New York Laws
BNK - Banking
Article 11 - (450 - 487-A) CREDIT UNIONS
479 - Credit union not liable for taxation.

NY Banking L § 479 (2014) What's This?
 479. Credit union not liable for taxation.  Any credit union subject
  to  the  provisions  of  this article shall be deemed an institution for
  savings within the meaning of the law which  exempts  such  institutions
  from  taxation.  No  law  which  taxes  corporations in any form, or the
  shares thereof or the accumulations therein, shall apply to corporations
  doing business in accordance with the provisions of this article, unless
  such corporations are specifically named in said law.

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