NACCU Seeking Nominations
WASHINGTON-The National Association of Community Credit Unions is accepting nominations for its 2005 Community Credit Union of the Year award, which recognizes a community credit union that "exemplifies the principles of the credit union movement and serves as a positive influence." The deadline for nominations is Aug. 26, and winners will be announced at NACCU's annual conference Oct. 23-26 in Boston.
For info: www.naccu.com.
N.Y. State Charters Get Parity
LATHAM, N.Y.-The New York State Legislature has passed state-charter credit union sales tax exemption legislation following more than a decade of work. The New York State Department of Taxation & Finance estimates this legislation would result in an annual savings of $3.4 million to current state-chartered credit unions beginning in 2008. The legislation provides parity for state charters with federal charters. The bill also contains a provision that would provide an immediate exemption for federal charters converting to state.
Fortney In Signing Ceremony
ARLINGTON, Va.-NASCUS President and CEO Mary Martha Fortney took part in a signing ceremony of Bank Secrecy Act (BSA) information sharing. More than half of the state banking departments and a representative from FinCEN participated in the signing at the Conference of State Bank Supervisors (CSBS) 104th Annual Conference in San Antonio. NASCUS state regulators have been working for several months with CSBS, FinCEN, federal banking agencies and the IRS to produce agreements to allow BSA information to "flow" between state and federal regulators.
Denning To Retire As CEO
GRAND JUNCTION, Colo.-Paul B. Denning, CEO of Western Rockies FCU, is retiring. Denning began in CUs in 1985 as VP with what was then called Mesa County Teachers FCU, and was named CEO in January of 1996. During his career he oversaw growth to $71 million in assets from $14 million, and was active with the Colorado CU League.