News

RANCHO CUCOMONGA, Calif. - It is once again time for the Lexus Newport to Ensenada International Yacht Race to benefit the Richard Myles Johnson Foundation, which promotes credit union education and financial literacy. The annual 125-mile competition begins at noon on Friday, April 28 and of the over 500 boats...

Jim Hanisch, executive vice president for CO-OP Network, said the credit union ATM and EFT giant expected that the network would survive the loss of the tax-exemption but that it might have to change some of its policies and procedures to give its credit union members the best ATM strategy...

MERRIFIELD, Va. - The tax-exemption is a privilege that credit unions have rightly earned and it is incumbent upon the industry to remind the public of why that is the case and why it should remain intact, according to Cutler Dawson, the president/CEO of Navy FCU. Should it be removed,...

FORT WORTH, Texas - No doubt the "challenge of taxation" would certainly undermine the strength of the credit union movement but American Airlines Federal Credit Union would survive and provide value to its member-owners, according to John Tippets, its president/CEO. However, taxation would be felt "much more at the macro...

Taxing credit unions would take them back four decades, according to Dollar Associates Principal Dennis Dollar, former chairman of NCUA. "If credit unions were taxed, I think it would be the end of credit unions as we know them," he stated. The larger ones, he predicted would convert to banks...

WASHINGTON - Mountain America Credit Union continues to be the top-performing CU 7(a) lender in the nation, according to SBA. The $1.5 billion CU approved 297 7(a) loans in 2005 totaling more than $11 million as of Sept. 30, 2005. The SBA recently requested $17.5 billion for the 7(a) program...