The National Credit Union Administration Wednesday took steps to “enhance and support” the corporate credit union system.

There was recent good news for Bellco CU in its lawsuit challenging the Internal Revenue Service’s (IRS) application of “unrelated business income tax” (UBIT).

Wednesday’s decision by the Federal Open Market Committee to keep the fed funds target rate in the 0% to 0.25% range is largely a “non-event with respect to short-term interest rates,” says CUNA Senior Economist Steve Rick.

The economic, credit and housing crisis is beginning to affect credit union loan quality, said Steve Rick, CUNA senior economist.

U.S. Central FCU announced Wednesday that it expects to report its 2008 financial results next week.

The time has come for the U.S. to nationalize large banks and model them after credit unions, according to a HuffingtonPost blog posted Tuesday.

An opinion editorial urges the Obama administration to consider charities and credit unions in providing assistance in its economic stimulus package. It mentions specifically credit unions and the National Federation of Community Development Credit Unions.

Missouri credit unions will get the opportunity to help build a home for a severely injured veteran in the state, said the Missouri Credit Union Association.