Resources for Small CUs

Listed below are events, tools, and resources to help Small CUs.

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.

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 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.

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‘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.

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‘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.

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‘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.

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‘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.

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“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.

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$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.

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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."

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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.

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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.

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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.

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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.

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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.

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2019 Credit Union Marketplace Experience

Credit Union Employees: Click HERE  for Complimentary Registration.

Exhibitors  & Sponsors: Click HERE  for Information and Registration.

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2019 FHA Loan Limits Increase

HUD has announced its new schedule of FHA loan limits for 2019, with limits increasing in most areas of the country, further detailed in Mortgagee Letter 18-11, effective for forward mortgage case numbers, and Mortgagee Letter 18-12, effective for Home Equity Conversion Mortgage (HECM) case numbers, assigned on or after January 1, 2019.

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2019 State Legislative Filings: Subject of Call for New Hampshire Members TODAY

The Association is in the process of finalizing member comments to the New Hampshire Banking Department on its proposed 2019 state legislative filings. A member-only call is scheduled to determine final consensus on the proposed bills as well as to discuss next steps.

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2019-2020 Mass. State Legislative Session Begins Today - Member Conference Call on Proposals Jan. 8

The Association has already launched its Massachusetts state legislative advocacy platform for the new session. Members are invited to dialogue on new legislative initiatives to be introduced for the 2019-2020 session. Compiling member suggestions is a top priority to ensure that Association filings incorporate local views, represent meaningful advocacy, and include an effective strategic direction. The 2019-2020 filing deadline is January 18, 2019.

To provide a forum for discussion, the Association will host a conference call on January 8 at 2:00 pm on pending proposals for the next session.

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2019: In with the NEW- CU Marketplace Experience & Cooperative Advocate Featured on Latest CU Marketplace Experience Podcast

In the first episode of Credit Union Marketplace Experience Podcasts for 2019, Walt Laskos, CCUA Senior Vice President, Strategic Communications, discusses the Association’s new, one-day trade show event – CU Marketplace Experience, and the Cooperative Advocate - the Association’s official new quarterly magazine.

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2020 W-4 Form to be Redesigned

The Treasury Department has announced that the IRS will implement a redesigned W-4 form for tax year 2020, a timeline that will allow for continued work to refine the new approach for the form.

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3 New Delaware State Officials Sworn in on New Year’s Day

Three Democrats were sworn in to statewide offices on Tuesday, with Kathy McGuiness being inaugurated as auditor, Kathy Jennings taking the post of attorney general and Colleen Davis assuming the treasurer’s spot.

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4 Tips for Unleashing Your Credit Union’s Best Kept Secret

Most members typically have similar financial needs across their financial lives: cash management; credit and loans; asset accumulation, future income generation, insurance, and leaving a legacy for future generations.  CUNA Brokerage Services, Inc. (CBSI) works with credit unions to address their members’ financial needs for their retirement years through a blueprint for success.

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5 Ways to Increase Account Holder Loyalty in 2019

As you close the books on 2018, it’s time to hit the restart button and look forward to the year ahead. Hopefully, part of that vision includes ways to more fully engage your account holders and help them embrace increased financial security.

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7 Marketing Trends for Credit Unions in 2019

Credit Unions are one of the most popular forms of banking in the United States, but also one of the least advertised. With Credit Unions spending significantly less on ads and marketing, many are at a disadvantage when compared to community and national banks.

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A Day in the Life of Credit Unions 2018

In honor of International Credit Union Day, here's CU Journal's annual look at the everyday occurrences – both routine and meaningful – that bring "the credit union difference" to life.

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Add Your Voice to Make an Impact on State Legislation

The Association is collecting and finalizing member comments on proposed state legislative filings for the coming legislative session. Member-only calls are scheduled to discuss proposed bills and additional potential areas to be addressed legislatively, as well as discuss next steps.

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Advocacy Highlights the Afternoon at Annual Meeting & Convention

NCUA Chairman Mark McWatters is among the all-star lineup of speakers to enlighten, inform and provide thought-provoking content at the Cooperative Credit Union Association's 2018 Annual Meeting and Convention next month.

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Advocacy in Action: Coffee with Congressman Stephen Lynch

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.

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Advocacy in Action: RI Governmental Affairs Day; DE Small Business Caucus Meeting This Week

Advocacy opportunities for members in January include the Rhode Island Governmental Affairs Day, on Wednesday, January 16, and the Delaware Small Business Caucus Meeting, on Thursday, January 17.

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AI, Analytics & Job-Hopping Shape Millennials Working in Finance

AI, automation, analytics and accounting, as well as job-hopping, are triggering massive changes in the corporate finance’s role. So say millennials currently working in the field according to a new study.

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