Resources for CEOs
Listed below are events, tools, and resources to help CEO’s find solutions that will help credit unions.
Expanding in size and strengthening yet again, violent Hurricane Florence is on a beeline toward the East Coast as an “extremely dangerous” Category 4 hurricane. Catastrophic flooding and destructive winds are becoming very likely in the eastern Carolinas north of Charleston, where hurricane warnings were issued late Tuesday. Be prepared - download Business Continuity and Disaster Recovery Planning, a white paper from CUNA Mutual which outlines procedures and guidelines your credit union could follow in developing its own business continuity plan.
The Cooperative Credit Union Association (CCUA) honors those leaders who have hit major milestones of service in the credit union system, and is reaching out to management at member credit unions to ask that they share the names of those individuals who have been volunteers or employees of the credit union for more than twenty years.
Next week, the National Credit Union Administration will pay dividends for more than 5,700 institutions eligible for the $735.7 million Share Insurance distribution, the agency announced. Statements will be mailed to dividend recipients this week, indicating the amounts they will receive. An institution that filed a quarterly Call Report as a federally insured credit union for at least one reporting period in calendar year 2017 will be eligible for a pro rata distribution.
Stop anyone on the street today and ask him or her what a credit union is. Chances are, most respondents won't know. To help you explain what your credit union is, what it does and why, CCUA is happy to provide our members with this terrific little book entitled, "15 Reasons Why You Should Only Bank at a Credit Union."
With a little help of a few Spanish-speaking and Portuguese-speaking credit union members, the Cooperative Credit Union Association is adding to its resource library of financial-literacy publications.
The Association appreciates your continued advocacy on behalf of your credit union, and credit unions everywhere, and hope that you enjoyed the events. Your feedback about the 2018 Hike-the-Hill will help us to plan for future events. Please take a few minutes to complete a brief survey by Monday, July 16.
Hosted by the Cooperative Credit Union Association (CCUA) and the MD|DC Credit Union Association, the ever-popular Volunteer Leadership Conference brings together credit union volunteers, committee members and key staff from Delaware, DC, Maryland, and surrounding states for a unique networking and educational experience. It will take place November 16-18 at the Clarion Hotel in Ocean City, MD.
With a deadline of August 10, 2018, credit union supporters are encouraged to nominate individuals and organizations for the Herb Wegner Memorial Awards to be presented by the National Credit Union Foundation (the Foundation). Winners will be honored at the Foundation’s annual awards and fundraising gala on March 11, 2019 in conjunction with the Credit Union National Association (CUNA) Governmental Affairs Conference (GAC) in Washington, D.C.
Want more millennials? Want more members? Want to become the primary financial institution? Your credit union needs to deliver on what today’s consumer expects: frictionless experiences, simplified digital journeys, and a value-based relationship.
Association President/CEO Paul Gentile and Digital Federal Credit Union recently hosted a local coffee for Barry Finegold, former State Senator, in his candidacy to return to the Massachusetts Senate.
The Association and Liberty Bay Credit Union hosted a Credit Union Coffee event featuring Massachusetts Congressman Stephen Lynch at their Hingham office. The meeting provided an opportunity to receive up to date information on congressional activities and to advance the Association’s local advocacy priorities, including CU Senior Safeguard, data breaches and the housing finance marketplace.
Massachusetts Commissioner of Banks Terence A. McGinnis praised the Association’s CU Senior Safeguard program, noting that it complements efforts of the Division of Banks to combat elder financial abuse.
Chicago-based Alliant Credit Union was named in a class-action suit filed last week in federal court last week related to overdraft fees. The complaint alleges Alliant charged overdraft or NSF fees when members’ accounts had enough money in them to cover the transactions, violated federal law by misrepresenting its opt-in clause for overdraft protection and violated the Electronic Funds Transfer Act (Reg E), among other grievances.
Alloya Corporate FCU Offers Scholarship to CCUA’s Annual Meeting, Convention & Trade Show in October
Alloya Corporate FCU is accepting applications for the 2018 Christine M. Gross (CMG) Scholarship*. This valuable benefit of membership will allow an individual from a capitalized member credit union under $100 million in assets to attend the Cooperative Credit Union Association’s Annual Meeting, Convention & Trade Show at the Mohegan Sun Resort & Casino in Connecticut by covering registration fees, hotel accommodations and travel expenses. The deadline to apply is September 12.
CUNA and credit union league staff joined more than 5,000 attendees, includingn lawmakers form nearly every state, in Los Angeles at the National Conference of State Legislatures (NCSL) Legislative Summit. The NCSL passed a directive calling on Congress to amend the Controlled Substances Act to remove cannabis from scheduling, thus enabling financial institutions the ability to provide banking services to cannabis related businesses. The directive passed without dissent.
The National Credit Union Administration Board met for its scheduled September meeting yesterday. Agenda items included the issuance of a proposed rule on appraisals and the quarterly update on the Share Insurance Fund.
When a leading financial institution needed help with the most significant software upgrade in its history — a core conversion to Episys — they reached out to Arkatechture, a CU Connect Business Service Provider.
The Association continues to be actively engaged in combating frivolous lawsuits and demand letters faced by member credit unions concerning website accessibility standards under Title III of the Americans with Disabilities Act (“ADA”). Most recently, a request for assistance in obtaining clarity from the U.S. Department of Justice (“DOJ”) relative to the ADA issue was sent to local Attorneys General based upon a national endeavor underway. Engagement with the DOJ was urged to reinvigorate the regulatory process. To assist and emphasize the importance to local credit unions, the Association advocated directly to the Attorneys General in Delaware, Massachusetts, New Hampshire, New Jersey, and Rhode Island to join this effort.
The Association has submitted comments to the National Credit Union Administration in response to its proposed supplemental rule on Risk-Based Capital (RBC). Responses to the Association’s risk-based capital survey provided the basis for comments to the agency.
The Association has submitted comments to the National Credit Union Administration in response to its Notice of Proposed Rulemaking on Payday Alternative Loans. Responses to the Association’s payday alternative loans survey provided the basis for comments to the agency.
The Massachusetts Division of Banks and Loan Agencies held a public hearing yesterday on proposed amendments to 209 CMR 50:00: Parity with Federal Credit Unions. The Association was present at the hearing to testify on the proposed changes to the parity regulation.
Association’s Annual Business Meeting and Director Elections on October 12 at 2018 Annual Meeting & Convention
The upcoming annual Business Meeting and election of directors of the Cooperative Credit Union Association, Inc. will be held on Friday, October 12, 2018 in the Uncas Ballroom, Salon A, from 10:30 a.m. to 12:00 noon, at Mohegan Sun, Uncasville, CT. The purpose of the meeting is to elect the Association’s Board of Directors and to conduct other business.
The Cooperative Credit Union Association offering a 10% registration discount for the upcoming Millennial Summit at the Riverfront in Wilmington, Delaware. The Millennial Summit is a one-day experience designed to help connect young professionals, difference makers, rising stars, and other leaders who want to make an impact in Delaware and the Delaware Valley.
The video recording of the Aug. 2, 2018, open meeting of the National Credit Union Administration Board is now available on the agency’s website.
Acting BCFP Director Mulvaney has announced the selection of Paul Watkins to lead its new Office of Innovation. The Office, created recently to focus on encouraging consumer-friendly innovation, is taking over work previously assigned to Project Catalyst.
The Bureau of Consumer Financial Protection (BCFP) has issued a final rule to implement the December 2015 legislative amendments to the Gramm-Leach-Bliley Act (GLBA).
Local roundtable discussions with the Federal Bureau of Consumer Financial Protection begin TODAY at 1:00 pm in Colchester, VT. The Bureau is travelling to New England for a dialogue with credit unions and seeks to obtain direct comments from the industry. These meetings provide convenient opportunities for credit union leaders to discuss issues of concern and to have questions answered and/or concerns addressed.
A series of local roundtable discussions with the Federal Bureau of Consumer Financial Protection began yesterday in Colchester, VT. The meetings, continuing through August 23, are hosted by the Bureau with the support of the Cooperative Credit Union Association and the Association of Vermont Credit Unions. Members of both associations are invited to attend one of the meetings at the most convenient location.
Association President/CEO Paul Gentile invites member credit unions to join him for a local roundtable discussion with the Federal Bureau of Consumer Financial Protection. Amongst the jurisdiction of the Bureau is the authority to write consumer financial protection regulations and issue guidance that affects credit unions and the financial services industry.
The Bureau is travelling to New England for a dialogue with credit unions and seeks to obtain direct comments from the industry. These meetings provide convenient opportunities for credit union leaders to discuss issues of concern and to have questions answered and/or concerns addressed.
In a sign that the Bureau for Consumer Protection (BCFP, Agency) may be preparing to reorganize its credit union advisory council, the agency has posted a charter calling for a much smaller group of credit union employees to be appointed to the group than in the past.