News

WASHINGTON-Treasury Secretary John Snow acknowledged that credit unions' tax exempt status is "teed up for a good debate," but he did not back away from the administration's position supporting credit unions' tax exemption. In clarifying the administration's backing of credit unions' tax exemption to America's Community Bankers Government Affairs Conference,...

SAN ANTONIO - Southwest Business Corporation (SWBC), an insurance, mortgage and investment provider, has appointed David Horne executive vice president/chief administrative officer. Prior to joining SWBC, Horne co-founded and served as chief operations officer for Orbis Online, a technology services company, over the past four years. A graduate of the...

NEEDHAM, Mass. - Recent TowerGroup research suggests that non-traditional distribution outlets such as wirehouses, banks or even insurance CUSOs may revitalize the life insurance market. "It's imperative that insurers approach this market with a fresh perspective relative to products, distribution and operations," said Cindy Saccocia, senior analyst in the Insurance...

WASHINGTON-Federal Deposit Insurance Corporation Chairman Don Powell reiterated his belief that credit unions should be taxed during a speech to America's Community Bankers Government Affairs Conference. He briefly showcased an advertisement ACB placed in The Hill newspaper and elsewhere, featuring a bright yellow rubber ducky with the usual "quacks like...

South Florida Acceptance Corp., an indirect lending CUSO, is coming up on its first anniversary and has good reason to celebrate the collective auto purchasing power of its owner CUs' members. Read up on them and other CUSO news on pages 20 and 21.

Turn to page 18 for the latest stats on CU card portfolio sales, and on page 19 see what former Suncoast Schools FCU CEO Perry Dawson thinks about the portfolio sell-off trend.