G. Kennedy Thompson G. Kennedy Thompson G. Kennedy "Ken" Thompson (born November 25, 1950) is an American businessman who was previously chairman, president, and CEO of Wachovia Corporation, formerly First Union Corporation, from 2000 through 2008. First Union Corporation acquired Wachovia Corporation and changed its name to Wachovia in September 2001 after fending off a hostile takeover attempt by SunTrust Bank. Thompson succeeded Edward E. Crutchfield in 2000, who stepped down due to health reasons. Previous positions at First Union included vice chairman of the corporation and head of Global Capital Markets; president, First Union-Florida; senior vice president and head of First Union
Credit unions in the United States first organizing in the US in the early 20th century, the banking industry was opposed, remaining so ever since. Banks and bank trade associations consistently put anti-credit union legislation at the top of their agendas. Due to their status as not-for-profit, member-owned financial institutions with no source of secondary investment capital, credit unions in the US are exempt from federal and state income taxes (but not from other forms of tax, such as payroll, sales, or property taxes). Credit union members themselves pay income tax on dividends earned through financial participation in the credit union; this is similar to the