Most Credit Union Products Not Subject to Unrelated Business Income Tax, IRS Memorandum Says

The Internal Revenue Service has issued a memorandum that clears nearly all credit union products from being subject to Unrelated Business Income Tax. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “Can a credit union run a promotion in which everyone who applies for a car loan is entered to win a prize?”

NCUA Releases Additional Regulatory Alerts on Mortgage Servicing Rules

The National Credit Union Administration has released regulatory alerts regarding the new Mortgage Servicing Requirements under the Truth in Lending Act and the Real Estate Settlement Procedure Act.

NCUA Says Share Insurance Fund Performing Well, Issues Two Final Rules

The National Credit Union Administration delivered good news, drew hard lines and offered a bit of compromise at its October board meeting in Washington, D.C.

NCUA Issues Request for Comment on Proposed Flood Insurance

Credit unions have until Dec. 10 to comment on a proposed NCUA rule that would implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 that deal with private flood insurance, the escrow of flood insurance payments, and the forced-placement of flood insurance.

Natural Partners: Credit Unions and Life Insurance

Is your credit union membership at financial risk due to a lack of life insurance coverage? A 2013 study reported 30% of Americans have no coverage and 44% have no individual life insurance. Our Strategic Link business partner CUNA Mutual Group shares some suggestions.

SBA Launches New Web Tool to Educate Business Owners about the Affordable Care Act

The SBA has issued a resource tool regarding the Affordable Care Act that may be helpful to credit unions and small businesses considering their health care options. The Compliance Center provides all the convenient links.

Bringing Awareness to the Need for AD&D Protection

For members under age 44, accidents are the leading cause of death. Fortunately, getting AD&D coverage is much easier than it used to be—especially with simplified online applications. CUNA Mutual provides details in this week’s Strategic Link business partner article.

It’s Spring: Do You Know Where Your Flood Zones Are?

As most of the Northwest is experiencing a soggy May, it’s a good reminder for credit union lenders to shore up their flood zone data. This is critical information for mortgage approvals. In today’s Strategic Link business partner article, CUNA Mutual’s Kriss Besch shares some important insight.

Reminder: Two Mortgage Rules are Effective on June 1, 2013

Two important mortgage rules take effect June 1, 2013. They concern higher priced mortgage loan escrow accounts and mandatory arbitration agreements.

Legal Briefs

Your weekly update on the regulatory landscape.

CFPB Temporarily Delays Prohibition on Financincing of Single Premium Insurance

The CFPB has issued a proposed rule that temporarily delays the effective date on the prohibition on creditors financing single-premium credit insurance products.

Strategic Link Question of the Week

Our credit union would like to grow our stream of non-interest income. Aside from the Sprint and Auto Club Programs, what are some other programs Strategic Link endorses that will enhance our suite of member service products while increasing our bottom-line?

The DFI Issued Guidance on State Credit Union Owned Life Insurance

The Washington DFI has issued a compliance update of interest to credit unions carrying life insurance products.

Connect Members to Insurance Online

CUNA Mutual Group’s MemberCONNECT Program helps credit unions offer members convenient, online access to protection products like life, auto, home and accidental death and dismemberment coverage.

NCUA Releases Interagency Statement Outlining Impact of Biggert-Waters Act

A joint statement issued by the NCUA and other federal agencies discusses the effective dates of certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012, as well as the act’s effect on the agencies’ proposed Interagency Questions and Answers.

Oregon Credit Union Public Funds Collateralization Program Launches

Oregon’s expanded Credit Union Public Funds Collateralization Program launched Monday, giving government entities more local options for deciding where to deposit their funds. Five cities have already agreed to deposit funds in credit unions in excess of the $250,000 insurance limit.

Legal Briefs

Your weekly update on the regulatory landscape.

Two NWCUA-Sponsored Bills to Receive Committee Hearings in Washington Thursday

Two NWCUA-sponsored bills addressing credit unions’ corporate governance, investments and capital, have been referred to committees in the Washington State Legislature, with each scheduled for a hearing during Thursday’s Credit Union Day at the Capitol.