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WASHINGTON--Ahead of the confirmation of Scott Bessent as Treasury Secretary, the Defense Credit Union Council sent a letter to the Senate Finance Committee outlining why the credit union tax exemption must be preserved.

AUSTIN, Texas—Navy FCU’s problems continue. This time the $181-billion credit union is under legal fire from a small bank that alleges NFCU’s "lax" policies regarding the creation of business accounts have allowed criminals to commit check fraud through the CU.

PORTLAND, Ore.—The $17-billion First Tech FCU has reached a multi-year deal with Major League Soccer’s Portland Timbers to become the exclusive credit union for the team.

WASHINGTON—With concerns growing about the potential threat to credit unions’ tax status this year, as Congress is expected to rewrite the tax code, the House Ways and Means Committee held the first hearing on tax reform in the 119th Congress Tuesday.

LATHAM, N.Y.—The $1.2-billion Sunmark Credit Union has named Jerilee Beaudoin president and CEO, the Capital Region Chamber reported.

STURGIS, S.D.—The $165-million Northern Hills Federal Credit Union has named Misty Winter CEO, the CU reported.

ALEXANDRIA, Va.—NCUA this week announced it has posted new cyber incident reporting form on its website.