State Regulators To Measure MemberService

Register now

ARLINGTON, Va. - (03/31/06) --State-chartered credit unions willbecome part of a congressional effort to measure how credit unionsserve their memberships. In a letter to NASCUS, CaliforniaCongressman Bill Thomas, chairman of the tax-writing House Ways andMeans Committee, asked that state credit union regulators begincollecting data about the credit unions in their states. Therequest follows a well-documented and similar request to NCUA byThomas for data on federal credit union service to communities, andcame in the wake of a November, 2005 hearing on the credit uniontax-exemption. Approximately 40% of all credit unions are statecharters. Thomas has asked that state credit union regulatorssurvey a representative sample to gather information in four areas:membership, executive compensation, CU service organizations andunrelated business income tax.

For reprint and licensing requests for this article, click here.