Credit Union Management

Eliminating the tax exemption for credit unions was mistakenly included in the House bill that contains the seven immediate reforms recommended by the National Commission on Fiscal Responsibility and Reform, its sponsoring congressman said last Wednesday afternoon.

ODENVILLE, Ala. Two days before Christmas in 2007, Glenn and Sara Sassers plans were obliterated like an unsuspecting step on a hidden land mine.

For credit union executives planning a core banking system conversion, feelings of fear and stress are common.Throw another factor into the mix, like a merger, and the conversion process becomes that much more overwhelming and complex.

Credit unions often find it difficult to provide international payment services to their members, the demand for international drafts, wires, international ACH and encashment of foreign receipts grows daily as global trade becomes an increasingly important part of business for companies and individuals.

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A new report from the Center for Financial Services Innovation suggests that products and services marketed to unbanked and underbanked consumers could represent a huge and growing market for the nations credit unions.