REGINA, Saskatchewan–While credit unions in the U.S. continue to operate under a federal tax exemption, that isn’t the case in other countries, where CUs are in a constant give-and-take over the taxes they pay. Case in point are credit unions in Saskatchewan, which are facing a phased-in provincial tax increase to begin in 2017.
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CU News From Around the Planet
DERRY, Ireland–More than 1,000 members of Derry Credit Union here have been told they must withdraw their money because they exceed a deposit cap put in place due to sluggish loan volumes.They aren't the only CU members getting that same message.
NEW DELHI, India—India has taken another step forward in persuading its citizens to embrace cashless payment solutions.
REGINA, Saskatchewan–While credit unions in the U.S. continue to operate under a federal tax exemption, that isn’t the case in other countries, where CUs are in a constant give-and-take over the taxes they pay.
COUNTY GALWAY, Ireland–Four credit unions here have banded together to create a product aimed at helping the 13,000 farmers in the market, most of whom raise livestock.
HAMILTON, Ontario–A number of credit unions in Canada have been busy snapping up naming rights to various facilities.
WINNIPEG, Manitoba–Steinbach Credit Union here is paying a $7.5 million rebate to members.
EDINBORO, Scotland–Angela Constance, Scotland’s cabinet secretary for communities, social security and equalities, has reiterated her government’s support for credit unions at a cross-party meeting here.
LONDON—Mobile payments are rising rapidly in the U.K.
BEIJING, China—The People’s Bank of China (PBOC) is getting closer to becoming one of the first major central banks to issue digital money that can be used for any type of purchase.