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Vanguard Group Becomes Largest Mutual Fund Company

By Staff Writer

VALLEY FORGE, Pa. - Vanguard Group has edged Fidelity Investments to become the nation's biggest mutual-fund company. According to Competitrack Inc., an advertising tracking firm, Vanguard spent more than any other company on mutual-fund advertising. Vanguard has nearly half a trillion dollars in stock and bond funds and is "one...

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Mutual Funds Not Disclosing `Crucial' Information to Investors

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Four New Socially Responsible Investment Mutual Funds Available

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February 18, 2003

Investors Using Internet for Research Grows Three-Fold Since 1999

KANSAS CITY, Mo. - Roughly 62% of all investors - nearly 35 million - now access the Web for research and information, news, and financial services, a three-fold increase in use over the past four years. According to a survey by American Century Investments, investors doing their homework when they...

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February 18, 2003

Tax Credit for Individual Development Accounts Could Benefit Credit Unions

WASHINGTON - Credit unions that implement individual development accounts (IDA) programs may be eligible for a $550 annual tax credit. The Senate Finance Committee has approved the tax section of the Charity Aid, Recovery, and Development Act of 2003, which allows financial institutions a tax credit for each IDA account...

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February 18, 2003

Bush's Proposed Retirement, Savings Accounts Include:

Lifetime Savings Accounts (LSA) * Can be used for any type of savings. * Allows savers of any age and income to contribute up to $7,500 each year. * Unlimited, penalty-free withdrawals. * Contributions not deductible. * Not required to document qualified expenses. Retirement Savings Account (RSA) * Can only...

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February 18, 2003

As Bethlehem Steel Gets Buyer, Employee Pension Plans Expected to Remain Intact

BETHLEHEM, Pa. - With the recent announcement that Bethlehem Steel will be bought by International Steel Group, the status of pension plans for retired workers seems to be safe. In December 2002, company officials discovered that Bethlehem Steel's pension plan was underfunded by $3.2 billion and would be turned over...

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February 18, 2003

Despite Small Size, Hoyt Lakes Community CU Adds Trust Services in its Aim for `Primary Financial Institution' Status

HOYT LAKES, Minn. - When Hoyt Lakes Community Credit Union set out to align with a firm that would provide trust services in a quest to become the primary financial institution for its 5,100 members, some were skeptical given the credit union's size. But Don Werdick, Hoyt Lakes' president/CEO, said...

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February 18, 2003

Teachers Federal Credit Union Grows Despite Intense Competition From Area Banks

FARMINGVILLE, N.Y. - President/CEO Robert Allen glances out the window of his office at Teachers Federal Credit Union and counts. "There are three banks within sight of my office," he reports. "One prides itself on being open seven days a week. We're open a full six days a week." That's...

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February 18, 2003

Some See Pres. Bush's Proposed Retirement Accounts as End to Traditional IRAs, Credit Unions Wait and See

WASHINGTON - The recently-proposed retirement accounts by Pres. Bush aim to eliminate the bowl of "confusing alphabet soup" and the "endless maze of confusing rules," the U.S. Treasury touted shortly after the president's proposals were made in January. At issue are the creation of several new accounts that do away...

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Top News Stories

Vanguard Group Becomes Largest Mutual Fund Company

Mutual Funds Not Disclosing `Crucial' Information to Investors

Four New Socially Responsible Investment Mutual Funds Available

Recommended Just For You

News Stories

Investors Using Internet for Research Grows Three-Fold Since 1999

Tax Credit for Individual Development Accounts Could Benefit Credit Unions

Bush's Proposed Retirement, Savings Accounts Include:

As Bethlehem Steel Gets Buyer, Employee Pension Plans Expected to Remain Intact

Despite Small Size, Hoyt Lakes Community CU Adds Trust Services in its Aim for `Primary Financial Institution' Status

Teachers Federal Credit Union Grows Despite Intense Competition From Area Banks

Some See Pres. Bush's Proposed Retirement Accounts as End to Traditional IRAs, Credit Unions Wait and See