Hatch sends letter to IRS suggesting new CU form

Yesterday, Senate Finance Chairman Orrin Hatch (R-Utah) sent a letter to IRS Acting Commissioner David Kautter asking whether some federal credit unions should file a Form 990 to provide additional information to the IRS. The letter followed a response missive (here) from NCUA Chairman Mark McWatters’ to Hatch addressing the continued relevance of the credit union […]

Tropical Financial CU completes merger

Tropical Financial Credit Union of Miramar, FL, completed its merger with Miami-based Financial Federal Credit Union, increases Tropical Financial’s assets to more than$700 million and its membership to more than 60,000. The South Florida Business Journal reports, “The completion of the merger is the latest in expansion moves by Tropical, which announced at the end of 2015 […]

CUs join forces to improve member services

Local Government Federal Credit Union in Raleigh, NC, and Florida A&M University FCU, Tallahassee, FL, said they joined forces to help each other improve services to their memberships. “These seemingly different credit unions agreed to collaborate on strategy, governance and operations,” the credit union said in a statement. “This is a story that gets to […]

McWatters’ letter to Sen. Hatch addresses FOM and CU tax exempt status

Yesterday, the NCUA released a copy of chairman Mark McWatters’ response letter to Sen. Orrin Hatch addressing the continued relevance of the credit union tax exemption. Hatch, chairman of the U.S. Senate Committee on Finance, had sent a letter to the NCUA earlier this year asking six questions regarding expansion of field of membership for credit […]

Washington Wire

This week, the House is expected to consider H.R. 4, the FAA Reauthorization Act of 2018. The Senate is expected to consider S. 140, the Coast Guard Reauthorization Act. In addition, the Senate may consider the nominations of Stuart Kyle Duncan to be United States Circuit Judge for the Fifth Circuit and Mike Pompeo to […]