The average 401(k) balance has gone from $67,760 at the end of 1999 to $121,202 at the end of 2006, according to a new study from the Employee Benefit Research Institute and the Investment Company Institute.

Mike Hearne, the controversial CEO of the $314 million Lafayette Federal Credit Union is no longer with the institution, according to sources familiar with the situation.

It's official, barring any unforeseen objections from the Iowa Commissioner of Insurance or Iowa Attorney General, the CUNA Mutual Life Insurance Company and CUNA Mutual Insurance Society will merge sometime later this year.

Acting IRS Commissioner Kevin Brown recently wrote to the Senate Finance Committee that the line between tax-exempt and commercial entities is blurring, listing credit unions as key offenders, which CUNA did not take to kindly to.