The straight line

Congress Passes Corporate Bailout Bill

Recently, Congress passed and the president signed into effect, a corporate bailout bill that impacts credit unions. This bill creates a Corporate Credit Union Stabilization Fund, essentially allowing the NCUA to borrow up to $6 billion from the Treasury in order to cover the losses suffered by U.S. Central Federal Credit Union and WesCorp Federal Credit Union.

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New COBRA Provisions in the Stimulus Law

For employers, the time is now to comply with a little-known provision in the new stimulus law, signed by President Obama on February 17th. Part of the American Recovery and Reinvestment Act of 2009 is a revamping of COBRA law for certain employees.

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Sections 199 Deductions

By that we mean, continue to utilize at the Cooperative level, pass the benefit through to the patron or a combination of both. We envision recommending some alternatives that will utilize non-qualified patronage allocations also. Our goal is to help you further strengthen your balance sheets and manage your members’ equity to best fit your situation or long-term plans.

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Mergers – No More Pooling

As most of you know, the pooling of interests method simply combined the accounts of each merging company at book value, with no adjustments to reflect market value differences. In addition, retained savings of both companies were also combined.

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Bohling Joins Nebraska Football Hall of Fame

Congratulations are in order for Brian Bohling upon his induction into the Nebraska Football Hall of Fame this past fall. The Nebraska Football Hall of Fame is sponsored by the Nebraska Chapter of the National Football Foundation and College Football Hall of Fame.

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