WASHINGTON-Every year, when the president's budget comes out, it includes the annual estimates for tax expenditures. Among those is the credit union tax-exemption, a figure that the banking groups often use against credit unions. According to the budget's "Analytical Perspectives," credit unions' tax-exemption cost the Treasury $1.29 billion in 2005....

NEW YORK - CIT Group Inc. and MicroBilt Corp. have come together to create a new commercial lending and leasing referral program designed for credit unions and other financial institutions. The MicroBilt Financial Business Loan Program will provide CUs with access to its business loan services through its CreditCommander.com platform,...

MILFORD, Conn. - Managed security provider Perimeter Internet-working has acquired Red Cliff Solutions. With approximately 450 credit union customers, Red Cliff claims to be the market leader in providing managed security services specifically to credit unions. The Red Cliff Web site lists alliances with Cavion Plus, CUSA Technologies, and SOSystems....

WASHINGTON-As Congress gets back to work in D.C. after the long winter recess, Congressman Neil Abercrombie (D- Hawaii) signed on as the most recent federal legislator to co-sponsor the Credit Union Regulatory Improvements Act (H.R. 2317). CURIA includes a number of regulatory relief measures, like expanded investment powers and extended...

FREDERICK, Md. - Over limit fees are still rising among major card issuers, but at a significantly slower pace than previously, according to Cardweb.com, a Web site which tracks card industry trends. Even though the average over limit fee crossed the $31 milestone in 2005, the site reported that this...

WARRENVILLE, Ill. and ALBANY, N.Y. - In a sign that the merger is progressing, Mid-States Corporate and Empire Corporate have filed their merger application with NCUA. The corporates also announced a series of town hall meetings in both corporates' geographic areas to provide merger information to member credit unions. An...

TALLAHASSEE, Fla. - Credit Union 24, the credit union-owned ATM network headquartered in Florida, processed almost 18 million ATM and EFT transactions in December 2005, a record for a single month and 23% over the number of transactions the network processed in December 2004. "Credit Union 24's consistent transaction growth...

ARLINGTON, Va.- With the resignation of NAFCU Treasurer Bill Cheney from the board, NAFCU's board acted to elect two new officers. Nevada Federal Credit Union CEO Brad Beal was elected to replace Cheney as treasurer. Dave Gilbert, chairman of Aberdeen Proving Ground Federal Credit Union, was voted in to succeed...