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MADISON, Wis. - The National Credit Union Foundation has changed the way it distributes the proceeds from new investments to its Community Investment Fund to reflect the lower interest rate environment. Previously, a credit union that invested with the CIF earned the first 2% of return on the investment. The...

LYNCHBURG, Va. - The $1.3 billion Virginia Corporate FCU now has a national field of membership. NCUA recently approved the expansion. Most corporates have national FOMs, and in recent years more and more have been marketing outside of their traditional FOM. "Today, credit unions are evaluating a number of choices...

WASHINGTON-The House Subcommittee hearing that bumped NCUA's monthly board meeting to the afternoon provided credit union industry representatives the opportunity to showcase the community's various efforts to bring more consumers into the financial mainstream. NCUA Chairman Dennis Dollar told the House Financial Institutions and Consumer Credit Subcommittee last week about...

LANSING, Mich. - Michigan's credit unions moved closer to having broader fields-of-membership and the ability to provide same-day loans after the state Senate Banking and Financial Institutions Committee passed the Michigan Credit Union Act on June 19. SB 496, introduced in May by state Sen. Shirley Johnson (R-Royal Oak) was...

WASHINGTON-The Independent Community Bankers of America expressed its strong support for Subchapter S Corporation expansion at a recent congressional hearing, stating that it will aid small businesses and boost the economy. Included among those small businesses helped by the legislation are community banks, which are hoping to expand the definition...

SALT LAKE CITY - Utah bankers may have won the battle in March with the passage of their banker-backed bill that sought to impose a tax on credit unions, but the state has lost nearly $3 million in sales tax and regulatory revenue as a result of the new law,...

Boeing Employees Credit Union, Tukwila, Wash., has sponsored the KCTS Reading Rainbow Young Writers and Illustrators Contest for the fourth consecutive year. The contest promotes education, literacy and creativity in children. Eight winning entries were selected, an honorable mention and first place award for each grade. Stories will be presented...

Tower FCU President/CEO Martin Breland is just the second CEO in this billion dollar CU's history. Find out about him and Tower FCU on page 24.