ARLINGTON, Va.-NAFCU presented four checks recently to the four armed services charities for $10,000 each. The Army Emergency Relief, Air Force Aid Society, Coast Guard Mutual Assistance, and Navy-Marine Corps Relief Society evenly split the $40,000 raised by NAFCU, The funds provide emergency financial assistance to military personnel and their...

ARLINGTON, Va.-NAFCU recently wrote Senate Banking Committee Chairman Richard Shelby (R-Ala.) to request that regulatory relief legislation be introduced quickly in the Senate-NAFCU also made some suggestions for the substance of the proposed bill. "We realize that as Congress returns from the August recess there will be a number of...

WASHINGTON-Single sponsor credit unions of all shapes and sizes are lining up to take a TIP from NCUA-Trade, Industry, Profession charter that is. So far, 10 federal credit unions have applied for TIP charters. On March 27, 2003, the NCUA Board made its latest updates to the Field of Member...

WASHINGTON-The U.S. General Accounting Office found during a recent study that some privately insured credit unions are not "adequately" disclosing their private insurance status, a discovery that could heat up the private insurance debate all over again. "Some privately insured credit unions GAO visited did not adequately disclose that these...

MADISON, Wis.-When credit union members are better informed about uninsured accounts, they are more likely to use them, a recent Filene Research Institute study found. "In the last few years, a number of credit unions have expressed concern about the lack of alternative sources of capital," the study, Uninsured Accounts:...

ALEXANDRIA, Va.-Two independent sources within the credit union community who asked to remain anonymous have confirmed that rumors are surfacing that the nomination of the next NCUA Board member is imminent. Both sources said they expected the president to make a nomination to the NCUA Board as early as last...

ALEXANDRIA, Va.-NCUA Chairman Dennis Dollar responded recently to questions posed by top financial services lawmakers regarding the problems with the current Prompt Corrective Action system and credit unions' use of secondary capital. House Financial Services Committee Chairman Mike Oxley (R-Ohio), Ranking Member Barney Frank (D-Mass.), and committee member Brad Sherman...

WASHINGTON- While bankers continue to harp on credit unions' tax advantages, bankers may have some explaining to do on some of their creative methods of reducing their tax burden. The nation's foremost financial newspaper, The Wall Street Journal, put a bright spotlight on some of these practices in a recent...