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InfoSight Highlight: IRS Form 1099-INT
Friday, December 15, 2017 7:00 AM

IRS Form 1099-INT must be filed for each person for whom the credit union pays $10 or more in interest during the calendar year. Although federal (and many state-chartered) credit unions pay members “dividends” by definition, for purposes of IRS information returns, credit union dividends are treated as “interest” and must be reported to the government each year on IRS Form 1099-INT.

Legislative and Congressional Candidates Set for 2018 Texas Elections
Friday, December 15, 2017 6:55 AM

The candidate filing period in Texas closed Dec. 11 for the primary election that will be held March 6, 2018. Early voting begins Tuesday, Feb. 20, and ends March 2.

Fort Worth Chapter Hosts 27th Annual School Carnivals
Friday, December 15, 2017 6:50 AM

The Fort Worth Chapter of Credit Unions held their 27th annual Elementary School Christmas Carnivals on Dec. 6 and Dec. 12. Using donations from chapter credit unions, vendors, and preferred partners, they were able to provide goody bags with snacks, toys, crayons, and educational coloring books, and even toothbrushes for approximately 1,300 children at two elementary schools within the community of Fort Worth.

House Helps Consumers Cope with Voluminous Privacy Notices
Friday, December 15, 2017 6:45 AM

The House of Representatives passed an important bipartisan piece of legislation from the Financial Services Committee on Thursday that would cut outdated Washington regulations.

Emergency Mergers and Reorganization Rules Adopted at NCUA Board Meeting
Friday, December 15, 2017 6:40 AM

The National Credit Union Administration Board met Thursday for its December open board meeting with a brief agenda. The board voted to finalize rules on emergency mergers and agency reorganization.

Is Your Credit Union Prepared for These Emerging Risks?
Friday, December 15, 2017 6:35 AM

For many credit unions, identifying, assessing, and mitigating risks can be a challenge, considering nearly every aspect of the business can pose a risk. While some credit unions have a solid strategy for recognizing existing risk and anticipating emerging ones, others are less proactive in their pursuit of risk mitigation.

Line Up Staff Training for 2018 with Webinars
Friday, December 15, 2017 6:30 AM

Thinking about staff and management training for next year? Great! It's the perfect time, and Cornerstone is offering a great option to add to the mix. Stretch your education budget with CU Web Training.

Comments Due on Proposed Rules for Texas Home Equity Lending Law Changes
Thursday, December 14, 2017 7:00 AM

Texas voters approved changes to the home equity lending law on Nov. 7, 2017. The Texas Credit Union Commission and the Finance Commission have jointly published proposed interpretation amendments to implement SJR 60, which amends Article XVI, Section 50 of the Texas Constitution and applies to home equity loans entered on or after Jan. 1, 2018.

Questions Arise Regarding Home Equity Loan Closings in January 2018
Thursday, December 14, 2017 6:55 AM

As you have likely heard, home equity lenders in Texas are celebrating the successful amendment of the Texas Constitution effective Jan. 1, 2018. In the new year, home equity loans will involve revised disclosures. The question many credit unions are asking is, “which '12-day notice' do we provide in December 2017 for a home equity loan scheduled to close in early January 2018, the old disclosure or the revised disclosure?” Unfortunately, the conservative answer is “neither.”

In Memoriam: Linda Wardlaw of Federal Employees FCU
Thursday, December 14, 2017 6:50 AM

Linda McFerrin Wardlaw of Texarkana, Ark., died Nov. 28, 2017, at her home, surrounded by family. She had been an employee of Federal Employees FCU for 38 years, from 1972-2010, before retiring from her management position.

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