NORWALK, Conn.-NCUA, CUNA, NAFCU, and NASCUS all provided information to the Financial Accounting Standards Board (FASB) on the uniqueness of credit unions as cooperatives regarding mergers. The Office of Thrift Supervision, America's Community Bankers, and others represented other mutual organizations in telling FASB that the purchase method of accounting is inappropriate for mutuals. The change would eliminate the "pooling of interests" accounting method generally used by credit unions. NCUA Office of Examination and Insurance Program Officer Karen Kelbly and NCUA Attorney Steve Widerman provided NCUA's testimony to the accounting group at its headquarters in Connecticut. According to NCUA, the new rules would require credit unions to follow business combinations in which an organization purchases another and stock, cash, assets, or the issuance of debt are exchanged. This would adversely affect the continuing credit union, discourage mergers, and increase the cost to the insurance fund.