Resources for CEOs
Listed below are events, tools, and resources to help CEO’s find solutions that will help credit unions.
Banks of all sizes are readying dry runs of their loan portfolios to gauge their performance under the current expected credit loss model, or CECL, which goes into effect in a little over a year. The exercise, commonly referred to as a parallel run, will show banks the gap in the allowance under the incurred approach and CECL. The parallel runs will also test banks' processes and controls around the allowance calculation and figure strongly into an institution's initial allowance disclosure.
The Credit Union Executive Society’s (CUES) New England Council will hold its Annual Meeting/Conference on October 7-8, 2019 at the Mohegan Sun Resort & Casino in Uncasville CT.
Equifax is nearing a deal to settle a slew of state and federal investigations into a 2017 data breach that exposed nearly 150 million Americans’ Social Security numbers and other sensitive personal information.
The Cooperative Credit Union Association (CCUA) will usher in CUNA's Governmental Affairs Conference (GAC) on Sunday, February 23, with a members-only networking reception at Bobby Van's Grill in Washington, D.C., from 5-7 pm.
NCUA finalized changes to its fidelity bonds rule in July, and the changes go into effect Oct. 22. The Federal Credit Union Act requires that certain credit union employees and elected officials have fidelity bond coverage.
The Massachusetts House of Representatives and Senate have passed a fiscal year 2020 budget, House 4000, for the Commonwealth.
Tom Slefinger, Balance Sheet Solutions, discusses the impact of excessive debt on future U.S. growth in this weekly column, in partnership with Alloya Corporate Federal Credit Union.
The National Flood Insurance Program is again operating under a temporary authorization and the Congressional Research Service (CRS) is warning of the dire consequences if it allowed to lapse.
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.
This scam, also known as port-out or SIM splitting fraud, allows criminals to hijack your cell phone number. Once they have your number, the bad guys can clean out your financial accounts, confiscate your email, delete your data and take over your social media profiles.
With the holidays behind us, the dawn of the New Year is a good time to review your robbery prevention and incident reporting procedures. A well-trained and well-equipped staff is your best defense, but here are a few other things to keep in mind.
More than half of the American population purchased at least one prepaid card in 2017. If your credit union is not currently offering a gift or prepaid debit card, chances are that you’re missing out on a valuable form of revenue and an equally valuable opportunity to expand your member base and relevancy to your current members.
As the April filing deadline approaches, the Internal Revenue Service warned taxpayers to be alert to tax time phone scams where aggressive criminals pose as IRS agents in hopes of stealing money or personal information.
CUNA Chief Economist Mike Schenk spoke with USA Today recently for an article about credit unions being among the financial institutions that offer “holiday loans” to members. Such loans generally come with fixed interest rate and installment repayment plans and range from between $500 and $5,000.
National Credit Union Administration Chairman Rodney Hood on Tuesday offered further insights into an upcoming proposal from the agency surrounding CU-bank purchases
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.
Attendees praise CUs for many reasons
Today’s Million Dollar Visit photos feature Cranston Municipal Employees Credit Union; Greenwood Credit Union; Navigant Credit Union; PGE Federal Credit Union; and Rhode Island Credit Union.
The Dover Air Force Base is one of several military installations legislators say could lose millions of dollars in funding if the Pentagon is forced to divert funds to President Donald Trump's wall along the Mexican border.
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.
Senator Tom Carper sat down recently with Delaware Business Times Publisher Rob Martinelli and Editor Peter Osborne for a wide-ranging interview.
The best and brightest credit union minds will converge on April 24th at the DCU Center in Worcester, Mass. for the FIRST Annual Credit Union Marketplace Experience - a business-to-business expo designed for exclusively for credit union executives and their staff.
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.
Yesterday, the Massachusetts General Court completed its 190th session and the two-year legislative session came to a close in the Commonwealth. For approximately two hours, the final session on New Year’s Day addressed the last legislative proposal which was the subject of conference committees between the chambers: the regulation of flame retardants in certain household products. Other matters finalized this week included a supplemental budget bill, a significant number of sick leave banks and local bills.
Bank Secrecy Act and OFAC requirements continue to challenge credit unions of all sizes. As we have come to learn, examiner expectations vary from institution to institution depending on the level of risk—risks including who you serve, and where and how you serve your membership. Join Bill Nagle, SVP, Professional Development, CCUA, on November 8 for an all-day program devoted to BSA.
SBA - PAYCHECK PROTECTION PROGRAM
Looking for assistance on how to become an SBA lender for PPP? Check out CCUA's resource center.