New York's SCUs Get Parity
ALBANY, N.Y.-New York Gov. George Pataki has signed the State-Chartered Credit Union Preservation and Promotion Act into law. The law exempts state-chartered credit unions from paying New York state and local sales taxes, putting them on par with federal CUs. There are currently 32 state-chartered CUs and 525 FCUs in New York. The bill also has a provision and enticement for federally chartered credit unions considering converting to a state charter. Any federally chartered credit union that converts to a state charter would retain its sales tax exemption and would not have to wait until the 2008 implementation date.
Robinson Honored With Award
CHICAGO-Ella Robinson, who was a passionate advocate for the dual chartering system before retiring as regulator with the Kentucky Department of Financial Institutions, was honored with the 2005 Pierre Jay Award at NASCUS' annual meting. Robinson has been active with NASCUS for more than 20 years, having served as president and a member of the board for 10 years. The Pierre Jay Award is given for outstanding service, leadership, achievement and efforts which benefit NASCUS and the dual chartering system.
Service Centers Changes Name
FARMERS BRANCH, Texas-The Texas league said that Texas Credit Union Service Centers (TCUSC) has changed its name to Member Service Centers Inc. to reflect its emphasis on member service. While Member Service Centers will be the official name, the three services TCUSC operates in Houston will continue to be identified in their signage as TCUSC. MSC has 67 participating credit unions and more than 100 outlets in Texas.