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NCUA’s Proposed Charity Rule Sees CU Support

The proposed rule would add war veterans’ organizations to qualified charities.

NCUA headquarters, Washington, D.C. (Source: NCUA). NCUA headquarters, Washington, D.C. Credit/NCUA

Officials with CUNA filed comments in the Federal Register in support of the NCUA’s proposed rule to amend the charitable donation accounts portion of the incidental powers regulation to include “war veterans’ organizations” to the definition of “qualified charity” that credit unions may contribute to using their charitable donation account.

The NCUA board approved the proposed rule during its May meeting to add veterans’ organizations as defined by the Internal Revenue Code 501(c)(19) and aligned it “with the purposes of the current charitable donation account rule.”

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Michael Ogden

Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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