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March 13, 2008 - NASCUS President and CEO Mary Martha Fortney joined other UBIT Steering Committee representatives for an “Understanding UBIT Conference” hosted by the Ohio Credit Union League on March 12 in Columbus, Ohio.
The March 12 event helped Ohio credit unions learn about the latest UBIT developments, calculating UBIT liability, recent litigation and filing requirements including the Form 990 and 990T. Fortney discussed the systemic implications of UBIT on the credit union system with attendees. Rose Bartolomucci, deputy superintendent for credit unions for the Ohio Department of Financial Institutions, also addressed the audience along with UBIT Steering Committee representatives from the Credit Union National Association (CUNA) and CUNA Mutual.
The UBIT Steering Committee, of which NASCUS is a member, has been active in providing education and resources to state-chartered credit unions on UBIT. The Committee recently presented a UBIT litigation and compliance update at the 2008 CUNA Governmental Affairs Conference and has held several conferences around the country in addition to providing correspondence to state-chartered credit unions on UBIT developments.
If UBIT education is needed in your region, contact NASCUS at (703) 528-8351. To view additional UBIT resources, click here. (Member log-in required.)
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