Resources for Small CUs
Listed below are events, tools, and resources to help Small CUs.
Weekly Relative Value: Work ‘Til You Drop
Weekly Relative Value, by Tom Slefinger, Balance Sheet Solutions, takes a look the impact of world economics on your credit union's balance sheet. It is provided in partnership with Alloya Corporate Federal Credit Union. The views of the author do not necessarily reflect those of the Association.
Banks Gearing Up for CECL Practice Run- News from S&P Global Market Intelligence -
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.
CU at Our Event - 10.18.18
Credit unions are involved in their communities in so many ways – and we want to share them all! In the weekly column, CU at Our Event, your credit union events are featured! Golf tournaments, fundraisers, member appreciation events – in your branch or in the community. Just provide us with the details about your event and we’ll post it every Thursday, until your event occurs.
CUES New England Council Annual Meeting/Conference Set for October 7-8
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.
House Financial Services Committee Hits Big Banks’ Lack of Diversity
The House Financial Services Committee said there is a lack of diversity among the nation's largest banks, despite the population being composed of 50% women and 40% minorities.
NCUA’s Fidelity Bonds Rule Effective Oct. 22
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.
Weekly Relative Value - Trickle Up
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.
‘Life-threatening’ Hurricane Florence Takes Aim at East Coast - Is Your Credit Union Prepared?
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.
‘Tis (Still) the Season – For Vigilance Against Robbery!
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.
‘Tis the Season for Gift Cards from LSC – CU Connect Partner
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.
‘Tis the Season: IRS Warns Vigilance Against Phone Scams
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.
‘Tis the Season… for Holiday Loans - USA Today interviews CUNA’s Schenk on topic
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.
‘Transparency’ Key to Upcoming CU-Bank Purchase Reg: NCUA’s Hood
National Credit Union Administration Chairman Rodney Hood on Tuesday offered further insights into an upcoming proposal from the agency surrounding CU-bank purchases
“Commitment to Cooperation” Honors Dedicated Volunteers and Staff at Annual Meeting & Convention
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.
“CU Difference” Celebrated at Middlesex & Worcester Senior Conference
Attendees praise CUs for many reasons
“Million Dollar” Thank You to Credit Unions of Rhode Island – Part 2
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.
“Million Dollar” Thank You to Credit Unions of Rhode Island – Part 3
Last week, 15 Credit Unions of Rhode Island received a special “thank you” visit in honor of their participation in the Million Dollar Year of support for Special Olympics Rhode Island (SORI).
$10,000 Donated by CO-OP Financial Services to Hurricane Florence Relief
CO-OP Financial Services is donating $10,000 to CUAid, organized to help credit unions and their members in the Carolinas as they work to recover from Hurricane Florence.
$39 Million For Dover Air Force Base (DE) Could Be Diverted for Trump’s Border Wall
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.
$cholars and ¢ents: Credit Union Reality Fair for Massachusetts State House Interns
Nearly 70 high school, college, and graduate student interns participated in the 5th annual ‘Scholars and Cents’ program at the Massachusetts State House yesterday. ‘Scholars and Cents’ is the credit union-founded financial education program designed exclusively for State House staff by credit unions.
10 Questions with Delaware’s Sen. Tom Carper
Senator Tom Carper sat down recently with Delaware Business Times Publisher Rob Martinelli and Editor Peter Osborne for a wide-ranging interview.
10 Reasons to Attend the 2019 CU Marketplace Experience!
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.
15 Reasons Why You Should Only Bank at a Credit Union - Booklet
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."
15 Reasons Why You Should Only Bank at a Credit Union” Adds New Spanish and Portuguese Versions
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.
19th Amendment Passed by Congress 100 Years Ago
Passed by Congress June 4, 1919, and ratified on August 18, 1920, the 19th amendment guarantees all American women the right to vote.
2017-2018 Massachusetts State Legislative Session Wrap-Up
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.
2018 BSA Update on Nov. 8
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.
2018 Volunteer Leadership Conference, Ocean City, MD, Nov. 16-18: Register Now and SAVE
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.
2019 Brings New Minimum Wage Requirements
Under the federal Fair Labor Standards Act, nonexempt employees must be paid minimum wage. The federal minimum wage, or pay floor, remains at $7.25 per hour for non-tipped employees and $2.13 per hour for tipped employees. Under circumstances in which a state, city or county minimum wage rate is higher than the federal rate, employers are required to pay workers the higher amount.
2019 BSA Update at Delaware Office on April 16 - Morning and Evening Sessions Available
Bank Secrecy Act and OFAC requirements continue to challenge credit unions of all sizes. A BSA update will be held in the Association Office in the Newark, DE on April 16.
IMPORTANT LINKS
Hike-the-Hill: Sept. 18 & 19
Our annual Hike-the-Hill event held in Washington, DC and Alexandria, VA provides an opportunity to meet with policy makers and regulators. This year's event will be on September 18 & 19.