NAFCU President and CEO Dan Berger wrote an op-ed for CUInsight explaining that the credit union tax exemption exists “because the industry earned it for their unwavering dedication to serving their members and communities.” Additionally, he highlighted the tax exemption maintains bipartispan support and “Congress should be proud for upholding this legislation for nearly 90 years and for backing an industry that, without fail, continues to put people over profits.”
The NCUA Board is set to hold its May meeting at 10 a.m. Eastern today. According to the agency’s agenda, the board will receive a briefing on the Share Insurance Fund and will vote on issuing a proposed rule related to charitable donation accounts.
The Federal Open Market Committee (FOMC) released minutes from its May meeting Wednesday. The minutes showed economic activity expanded at a modest pace in the first quarter, but participants stressed the importance of raising the debt ceiling in a timely manner to avoid the risk of severely damaging the financial system and broader economy.
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As credit unions work to meet the needs of more than 135 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday and Wednesday.
NAFCU staff Wednesday joined together with Habitat for Humanity (H4H) to work on a home build project in the greater Northern Virginia region. The volunteer group put the finishing touches on a site that NAFCU has worked on over the course of three visits.
