Thomas Expands Collection Scope to State Charters

House Ways and Means Committee Chairmab Bill Thomas requested state regulators provide the following information: Membership: * the number of state chartered credit unions, total assets and members by charter type in each state; * on a state-by-state basis, the extent to which providing services to low- and modest-income individuals is an explicit or implicit part of the chartering requirements for credit unions; * information concerning the income characteristics of members; * information on what actions credit unions have taken to target low- and modest-income individuals, including the type and extent of services provided to low- and modest-income individuals. Executive Compensation: For those state credit unions that don’t file individual Form 990 for their executives to obtain information from those CUs about executive compensation. NASCUS should also identify the entity responsible for preparing the group returns in those states that permit group returns and the extent that individual Form 990s are available to the public in those entities. CUSOs: * NASCUS should ask state regulators to survey credit unions about the amount they’ve invested in CUSOs, for a listing of each CUSO invested in, a listing of the services they obtain from CUSOs, and the annual amount of income derived from their CUSO investments and their percentage of total net income in the last five years. * information on a state-by-state basis regarding the assets of each CUSO, the most common services used by customers in the last five years, the number and percentage of members and nonmembers that used a CUSO in the last five years, and the amount of revenue they generate annually. UBIT: * State regulators should survey credit unions about the number that paid UBIT, the amounts of UBIT paid, and the services on which UBIT was paid, including any UBIT paid as a result of income generated from CUSO activities.