Northwest Credit Unions Leave People ‘Stunned, Grateful’ with Pay it Forward

Credit unions “paid it forward” into their communities on International Credit Union Day, demonstrating the credit union difference with stacks of cash.

Most Mortgage Loan Officers Must be Paid Overtime

A U.S. District judge in Washington, D.C., recently upheld the DOL administrative interpretation that says mortgage loan officers are not exempt from overtime under the Fair Labor Standards Act, a ruling that will impact many credit unions.

Compliance Question of the Week

If credit unions give new members $25 cash gift for opening a new share deposit account, is there an IRS reporting requirement?

IRS Pays Up After UBIT Smackdown

Members and employees of the Colorado based Bellco Credit Union are all smiles this week after the credit union received three IRS checks totaling over $291,000 as the result of the favorable outcome of their legal challenge to UBIT.

Make the Payout Ratio Work for Your Credit Union in Challenging Times

The term payout ratio was originally applied in the stock market as a measure of return to investors (dividend payout ratio). Credit unions can benefit from from this concept by using these ratios to measure the percent of interest income that is paid to members in the form of interest on deposits.

Heard and Overheard August 16, 2010

Voices of the credit union movement, in Washington and beyond.