News

Members who voted in recent balloting approved changing the charter of the $136 million Sunshine State Credit Union to a mutual bank for the second time, the credit union has announced.

In line with a recommendation from its Renewal Review Committee, CUNA members voted "overwhelmingly" in favor of a bylaw to add the chair of the Association of Corporate Credit Unions to CUNA's Board as a non-voting, ex officio member. CUNA reported in its online News Now news that ACCU Chairman...

It may have been the opening day of the Utah Legislature, but it did not take long for the perennial bank/credit union-clash to hit the media.

Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ranking Minority Member Charles Grassley (R-Iowa) have introduced legislation to further reduce the tax burden on Subchapter S companies, including banks.

A state-chartered credit union with a majority stake in a CUSO will not owe unrelated business income tax on interest or rental income received from its CUSO under certain conditions.

Consumers shifting away from traditional bank accounts to higher-yielding investments may be one of the reasons for the lowest level of bank deposits in the Federal Deposit Insurance Corp.'s 74-year history.