December 4th, 201726110Credit unions' special tax status appeared to be in the clear as both the Senate and House passed their tax reform bills recently.
>> Related: Senate passes tax bill; stock market reaches record highs <<
The House passed its version of the bill in November. The Senate voted in favor of the Tax Cuts and Jobs Act early Saturday morning. Neither version of the bill proposes ending or changing the tax exempt status enjoyed by federally and state chartered credit unions.
"Both chambers of Congress have now passed tax reform bills without proposing any change to the credit union tax status, true evidence that both sides...
November 30th, 20171067The National Credit Union Administration recently awarded Peach State Federal Credit Union a grant to help it improve the financial health of people in under-served areas.
Peach State was one of 23 credit unions to receive $536,000 in Underserved Outreach Grants, money that's meant to help credit unions develop strategies to increase outreach in areas that need it most. The grant is also meant to drive positive business results.
Peach State is based in Lawrenceville, Ga. For more information, visit https://peachstatefcu.com/.
November 30th, 201727137Three Georgia credit unions received national honors from the Credit Union National Association on Wednesday.
CUNA’s National Awards Committee announced the credit unions that won their Maxwell Social Responsibility Community Service Awards, Louise Herring Philosophy-in-Action Member Service Awards and Desjardins Awards for Financial Education. The winners of each award were selected from among top entries at the state level in categories based on their asset size.
Health Center Credit Union, based in Augusta, won second place in the Louise Herring award among credit unions with $50 million to $250 million in assets.
“I know...
November 29th, 20173199Despite its very public controversies, the Consumer Financial Protection Bureau took an encouraging step toward helping relieve regulations on credit unions Monday.
>>Related: Court: Trump's pick should lead CFPB<<
The Credit Union National Association wrote new acting CFPB leader Mick Mulvaney a letter Monday, detailing some concerns credit unions have had with the agency and asking that he put a freeze on new rules and requirements. Later that day, Mulvaney announced a 30-day freeze on both rule-making and hiring.
"We're very pleased to see the bureau halt rule-making activities for the time being, as we've...
November 29th, 201730105The CUNA Mutal Group Foundation and CUAid are poised to present a meaningful Christmas gift to credit unions and their members suffering from the affects of natural disasters.
"There are still significant needs for the affected disaster areas and holidays can be especially hard for those displaced from their homes or businesses," said CUNA Mutual Group Foundation Leader Beth Cutler in a press release.
With that in mind, CUNA Mutual Group Foundation pledged Tuesday to match every dollar donated to credit union disaster relief fund CUAid – up to $100,000 – through Dec. 31. CUAid is the only disaster relief fund dedicated to...
November 29th, 201725115Robins Financial Credit Union recently sent some holiday cheer to those serving oversees.
The Warner Robins-based credit union created care packages for troops stationed overseas during the holidays. The packages contained personal care items and snack foods.
"Robins Financial employees are proud to support deployed troops and have participated in this project for years," according to a press release. "It is a way of saying thank you for all of their dedication and sacrifice, especially during the holiday season."
To learn more about Robins Financial Credit Union, click here....
November 27th, 20170103MONEY recently featured 13 credit unions among its list of best financial institutions in each U.S. state.
The reporters combed through data on the largest 90 brick-and-mortar banks, 50 credit unions and 15 online banks identified by the bank consultancy firm called Novantas, according to the article. Based on factors including fees, interest rates and account requirements, MONEY selected the best financial institution in each state.
“To pick the champions, we required minimum balances that were $1,500 or less, and we assumed that you could put up with online statements to avoid fees,” according to the MONEY article.
MONEY named...
November 22nd, 201724127Macon-based Robins Financial Credit Union recently donated $2,000 to a local food bank just in time for the holidays, according to a Robins Financial Credit Union press release.
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November 17th, 201728106Recently, European Union officials sat down with industry advocacy groups to discuss how the governing body could help credit unions increase lending to small- and mid-size businesses.
According to a WOCCU press release, the Nov. 7 meeting in Brussels was constructive. Members of the European Parliament and European Commission – two branches of the European Union – talked over EU-backed solutions to credit union’s business lending concerns.
It was a different conversation than the one credit unions officials are having with law makers in the United States, where federal regulation blocks CUs from lending more than 12.25 percent...
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