ICBA’s Bolton details credit union 990 issue in radio interview
August 07, 2026 / By ICBA
Former ICBA Chairman Brad Bolton told a radio talk show that a recent credit union embezzlement scandal in Mississippi highlights the need for federal credit unions to file Form 990s like nearly all other tax-exempt organizations.
Interview: On MidDays with Gerard Gibert on SuperTalk Mississippi, Bolton said credit unions are the only not-for-profits other than churches that don't have to disclose executive compensation. If credit unions were required to file 990s, he said, warning signs of the alleged embezzlement would have been obvious.
More Media Coverage: American Banker (subscription required), the Credit Union Times, CU Daily, and Tyfone recently spotlighted ICBA’s renewed call for policymakers to require federal credit unions to file Form 990s
ICBA View: ICBA has long advocated requiring federal credit unions to file the annual information return, including in a recent letter to Treasury, repeated calls for Congress to act, and a recent national news release following the Mississippi embezzlement scandal.
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