June 10, 2009

NASCUS Summit to Feature Sessions on State of UBIT and Meeting Today's Mortgage Lending Challenges

ARLINGTON, Va. — NASCUS recently added sessions to its annual State System Summit, August 20-22 in Boston, on critical accounting issues for credit unions and strategies for success in today's mortgage lending environment.

During the Credit Union Taxation Update - Life After Community First, Kevin Fincher of Clifton Gunderson will provide attendees with the most up-to-date information on unrelated business income tax (UBIT) in light of the recent favorable jury decision in the Community First Credit Union litigation. He will cover what to do now to protect any potential refund of UBI taxes your credit union has paid.

Fincher will also update attendees on need-to-know potential tax pitfalls of employee fringe benefits and other products. In addition, Crowe Horwath’s Syndey Garmong and Mark Taylor will lead a session on essential credit union accounting and reporting issues.

In addition, the Summit will feature a half-day symposium on Meeting Today's Mortgage Lending Challenges on Friday, August 21. During this Symposium, Tracy Ashfield, President and CEO of Strategic Mortgage Solutions, will discuss real-world strategies for successful credit union mortgage operations in this current economic environment. Richard Hagar, renowned mortgage fraud expert, will address how credit unions can help themselves and their members avoid being victims of one of today's fastest growing financial crimes. Finally, the Conference of State Bank Supervisors will present the operational components of putting the S.A.F.E. Act (Secure and Fair Enforcement for Mortgage Licensing Act of 2008) to work at your credit union.

NASCUS encourages credit union CEOs, CFOs, boards, lending staff and other credit union leadership to register for this event. Register soon to bring along a colleague from your organization at no cost. To find out more and register, click here.

Information Contact:
Kate Hartig, VP, Public Relations and Legislative Affairs, (703) 528-0669 or
The NASCUS mission is to enhance state credit union supervision and advocate a safe and sound state credit union system.