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ARLINGTON, Va. - NAFCU recently met with IRS officials to offer its take on clearer guidance of deferred compensation plans at federal credit unions. The Sept. 23 meeting comes nearly a month after CUNA and CUNA Mutual held a similar meeting with the IRS on the matter. Both meetings involve...

WASHINGTON-Wayne Abernathy, Treasury's assistant secretary for financial institutions, told credit unions in Washington last week that the administration's backing of the credit union tax-exempt status is not waning. Abernathy was also quick to list out a number of programs he had learned about that credit unions are creating and participating...

Ten years ago only a hand full of credit unions offered automotive indirect lending. Today, more and more of America's credit unions are offering their members the ability to finance vehicles through their credit union without actually visiting the facility. This has resulted in increased auto loan volume, as well...

MOON TOWNSHIP, Pa. - A 51-year relationship went through a major metamorphosis when US Airways Federal Credit Union recently changed its name to Clearview Federal Credit Union after receiving approval to expand to a community charter. NCUA granted the approval on Sept. 23. While executives emphasized that US Airways employees...

EAST LANSING, Mich. - Michigan State University FCU has become the first credit union in Michigan to be authorized by the state to offer Michigan State Housing Development Authority (MSHDA) loans. MSHDA makes low-interest mortgage loans available for new and existing homes, condominiums and manufactured homes. The maximum income limit...

WASHINGTON-As has been highlighted in industry news, banking groups are really making a strong push to tax credit unions, particularly with the federal deficit as bad as it is and a non-election year coming up. In its latest move, America's Community Bankers has e-mailed its membership and state association executives,...

WASHINGTON-Federal Reserve Board Governor Edward Gramlich, the chairman of the National Reinvestment Corporation, explained that credit unions and the NRC have common goals that can lead to progress in affordable housing. NCUA Board Member Debbie Matz serves as NRC's vice chair. The federal government gives the NRC $100 million dollars...

WASHINGTON-At NAFCU's Congressional Caucus last week, Senator Mike Crapo (R-Idaho) said he was possibly interested in introducing broader regulatory relief than what the House-passed bill offers. The House's Financial Services Regulatory Relief Act (H.R. 1375) deals primarily with what he called "charter issues." Crapo said, "When I picked up the...