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WEST PALM BEACH, Fla. - In an industry already awash in acronyms, a new one emerged this year that most credit unions wish would just go away. The IRS' Unrelated Business Income Tax, or UBIT as it's referred to, caused quite a scare in 2003 for state charters in three...

MADISON, Wis. - It has been 13 years since Pete Crear came to CUNA and Affiliates, just one illustrious period within his 40-year career in the movement. This year, the industry veteran announced that he will leave his current roles as EVP and COO. On Dec. 10, John Franklin, former...

VIRGINIA BEACH - Climaxing in a meeting that was characterized as quiet, businesslike and straightforward, the members of @lantec Financial FCU voted on December 2 to allow the institution to leave its federal credit union charter for that of a federally chartered mutual bank. The charter conversion will be effective...

DES MOINES, Iowa - In a series of moves suspected by many in the credit union industry, as being orchestrated by the American Bankers Association, state bankers associations throughout the country kicked their efforts up a notch throughout the year to get state-chartered credit unions' tax exemption repealed. Excluding Utah...

GLASTONBURY, Conn. - Core processor Open Solutions Inc. wants to cater to the unique needs of credit unions and banks, so it is separating its core processing group into two focuses - credit unions and banks. OSI already has two separate core products for CUs and banks, but in reality...

2003 was a year of great achievement for credit unions. Here at CUNA there are some we are particularly pleased about given our role in the process. Congress passed two major bills for consumers and credit unions, which CUNA worked for vigorously. The "Check 21" bill (which would revolutionize the...

MADISON, Wis. - The first quarter of 2003 picked up where 2002 left off - a period of market and economic uncertainty - but credit unions still managed to weather a gripping recession. The good news came in the third quarter year-to-date numbers which show lending is making a comeback,...

MCLEAN, Va. - Richard Syron, a former American Stock Exchange chairman was chosen by Freddie Mac as its new chief executive officer. Syron becomes the third CEO Freddie Mac has had since June when the government sponsored enterprise went through a management shakeup as a result of circumstances surrounding three-years'...