United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2006-11-30 monographic deposited born digital 110 p. GA 1.13:GAO-07-29 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-29 P0b002ee180399727 f:d0729 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-07-29 machine generated eng fdlp REPORT GAOREPORTS-GAO-07-29 GAO-07-29 Banking regulation Credit unions Economically depressed areas Executive compensation Financial analysis Income statistics Income taxes Internal controls Lending institutions Loans Tax exempt organizations Tax exempt status Transparency Other Written Product A63824

Legislative and regulatory changes have blurred distinctions between credit unions and other depository institutions and raised questions about the tax-exempt status of credit unions. This report (1) assesses the effect of the Credit Union Membership Access Act on credit union membership and charters, (2) reviews the National Credit Union Administration's (NCUA) efforts to expand services to low- and moderate-income individuals, (3) compares rates offered by credit unions with comparably sized banks, (4) discusses unrelated business income tax issues, and (5) assesses transparency of credit union senior executive compensation. To address our objectives, we obtained NCUA data on credit union membership, charter changes, efforts to target those of modest means, and executive disclosure requirements. We also analyzed Federal Reserve Board's Survey of Consumer Finances and Internal Revenue Service data. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-29/html/GAOREPORTS-GAO-07-29.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-29/pdf/GAOREPORTS-GAO-07-29.pdf GAO-07-29 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-29 Other Written Product GAO-07-29; Credit Unions: Greater Transparency Needed on Who Credit Unions Serve and on Senior Executive Compensation Arrangements; Banking regulation Credit unions Economically depressed areas Executive compensation Financial analysis Income statistics Income taxes Internal controls Lending institutions Loans Tax exempt organizations Tax exempt status Transparency Title 12 Section 2901 12 U.S.C. 2901 Title 44 Chapter 35 44 U.S.C. Chapter 35 Volume 108 Page 2163 108 Stat. 2163 Volume 112 Page 913 Volume 112 Page 914 112 Stat. 913 112 Stat. 914 Public Law 103-325 Public Law 104-13 Public Law 105-219