News

A draft proposal of a report by a presidentially appointed deficit reduction panel includes an option that would eliminate many tax exemptions, including the one for credit unions.

The corporate credit union market share in 2007 was about 20%. As of July 2010, it was down to 7.7%.

Massachusetts credit unions can now accept deposits above the $250,000 insurance limit under a new law that went into effect last week.

The new Northwest Credit Union Association, combining the Oregon and Washington leagues, is ready to roll Jan. 1.

The $480 million First Commonwealth Federal Credit Union of Lehigh Valley, Pa., said Wednesday it has completed a merger effective Nov. 1 of the ailing Dixie Cup Employees FCU of Easton.

U.S. District Court Judge Emmet Sullivan yesterday dismissed a lawsuit by the leaders of Kappa Alpha Psi FCU challenging the NCUA's liquidation of the credit union.