Industry News

CUNA highlights BSA relief, return to 1.3% NOL to NCUA

CUNA stressed the need for Bank Secrecy Act (BSA) compliance reporting relief and a return to the 1.3% net operating level in its comments on NCUA’s strategic plan for 2018-2022.

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Vote for Miracles surpasses 100,000 votes

Children’s Miracle Network Hospitals’ #VoteForMiracles has surpassed 100,000 votes almost a full week ahead of the pace set at the same time last year.  

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National CU Foundation Announces 2018 DE Leadership Transition

The National Credit Union Foundation has announced the addition of Chad Helminak as the new Director of Credit Union Development and Cooperative Values Engagement, effective January 29, 2018. Helminak will lead the Foundation’s popular Credit Union Development Education (DE) Training and engage the growing corps of Credit Union Development Educators (CUDEs). 

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Tickets & Sponsorships Now Available for Foundation’s Wegner Awards Dinner

Four Individuals to Receive CU’s Highest Honors at Fundraising Gala

MADISON, Wis. – Credit union leaders and supporters can now purchase their sponsorships and tickets for the 30th annual National Credit Union Foundation Dinner Presenting the Herb Wegner Memorial Awards. The dinner will take place on February 26, 2018 at the Marriott Marquis in conjunction with the Credit Union National Association (CUNA) Governmental Affairs Conference (GAC) in Washington, D.C.

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CUNA Economic Update Now Available

Check out this month's edition of CUNA Economic Update to hear from CUNA vice president of economics and statistics, Mike Schenk.

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NCUA Awards $536,000 in Grants to Help Credit Unions Reach Underserved Members; 6 NJ CUs Benefit

ALEXANDRIA, Va. – Twenty-three federally insured, low-income credit unions in 17 states have been awarded $536,000 in grants to support outreach to underserved members, the National Credit Union Administration (NCUA) announced. Six NJCUL-member credit unions were awarded a total of $46,600 during this grant round: 1st Bergen FCU, Deepwater Industries FCU, Local 1233 FCU, Members 1st of NJ, MidState FCU, and Jersey Central FCU.

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NJ FIs Hit by $30 Million Mortgage Fraud Scheme

According to a Credit Union Times article published this week, a New Jersey attorney and a real estate agent were charged with allegedly running a massive mortgage fraud scheme. The scam caused more than $30 million in losses for at least five financial institutions, according to a criminal complaint filed last week in U.S. District Court in Newark. Prosecutors did not identify the financial institutions, and they did not respond to a CU Times request for additional information, according to the publication.

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47 CU Professionals Become Certified CU Development Educators (CUDEs)

MADISON, Wis. – 47 credit union professionals became Credit Union Development Educators (CUDEs) after being guided by dedicated program facilitators and mentors through the intensive Credit Union Development Education (DE) Training from the National Credit Union Foundation (the Foundation). The DE training was held November 1 - 8, 2017 at the Lowell Center in Madison, Wis.

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CUNA Lending Council Announces Awards, Executive Committee

NASHVILLE, Tenn. -- CUNA Lending Council presented its 2017-2018 executive committee and the 2017 CUNA Lending Council Award winners at its 2017 CUNA Lending Council Conference on November 12-15.

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Chuck Purvis Recognized for Innovation and Dedication to the Credit Union Philosophy with 2018 Herb Wegner Memorial Award

Foundation Recognizing Purvis with Award for Outstanding Individual Achievement

MADISON, Wis. –  In recognition for his almost forty years of service to the credit union movement and innovative spirit pushing the movement forward, the National Credit Union Foundation (the Foundation) is pleased to announce Chuck Purvis, President/CEO at Coastal Credit Union, as the recipient of a 2018 Herb Wegner Memorial Award for Outstanding Individual Achievement.

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Loans, memberships continue historical growth rates according to monthly CUNA estimates

Credit union loans and memberships continue to grow at historically high rates, based on the results CUNA's September Monthly Credit Union Estimates.

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“Consumer Financial Health Check-ups” Funded by National CU Foundation

MADISON, Wis. – The National Credit Union Foundation (the Foundation) recently wrapped up a year-long grant funding effort to conduct consumer financial health check-ups with the Center for Financial Services Innovation (CFSI). This work, generously funded and supported by CUNA Mutual Group, included financial health check-ups for: Affinity Plus Federal Credit Union in St. Paul, Minn.; BECU in Tukwila, Wash.; Community Financial Credit Union in Plymouth, Mich.; IH Mississippi Valley Credit Union in Moline, Ill.; University FCU in Austin, Texas; and Virginia Credit Union in Richmond, Va.

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Reality fair technology expands with National CU Foundation grant

Thanks to a grant from the National Credit Union Foundation, students attending reality fairs can use their mobile phone or tablet in place of pen and paper.

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‘Tis the Season…For Fun CMNH Fundraisers!

As the weather changes and we roll into the fall and holiday season, check out some new and fun seasonal fundraising campaigns benefiting Children’s Miracle Network Hospitals that you can offer to your employees and members.

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Federally Insured Credit Unions Serve More Than 14 Million Service Members and Veterans, NCUA Marks Veterans Day 2017

ALEXANDRIA, Va. – National Credit Union Administration Board Chairman J. Mark McWatters and Board Member Rick Metsger issued statements Thursday on the eve of Veterans Day (observed).

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CUs Featured Among “The Best” by MONEY

Credit unions, and one of their key system partners, were well represented in a recent MONEY feature, “The Best Bank in Every State.”

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Bill Hampel Recognized for Dedication to Cooperation & Education with 2018 Herb Wegner Memorial Award

Foundation Recognizing Hampel with Award for Outstanding Individual Achievement

MADISON, Wis. – In recognition of his decades of service as a dedicated advocate of the credit union movement and a mentor and inspiration to industry luminaries, the National Credit Union Foundation (the Foundation) is pleased to announce Bill Hampel, retired Chief Policy Officer and Economist at Credit Union National Association (CUNA), as the recipient of a 2018 Herb Wegner Memorial Award for Outstanding Individual Achievement.

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Most Consumers Satisfied With How FIs Handle Account Fraud, New Survey Shows

OTTAWA, Canada – While 15% of U.S. consumers spotted fraudulent activity on their accounts last year, banks and credit unions responded successfully, with 85% of those consumers saying they were satisfied with how their financial institution handled the incident, according to a new survey commissioned by the Ottawa, Canada-based March Networks.

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NJ Herald Column Outlines CU Difference, Defends CUs’ Not-for-Profit Status

In a Q&A in its “Dave Says” column this week, the NJ Herald outlined the stark differences between banks and credit unions as well as the benefits of credit union membership.

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Today is International Credit Union Day!

Today, October 19, is International Credit Union Day, when credit unions remind their members that they can achieve their biggest goals in life with the theme "Dreams Thrive Here." 

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National CU Foundation Announces 2018 Wegner Award Winners

Four Individuals to Receive Credit Union Movement’s Highest National Honors

MADISON, Wis. – The National Credit Union Foundation (the Foundation) has announced the winners of the 2018 Herb Wegner Memorial Awards. Angel V. Castro, Bill Hampel, Susan Mitchell and Chuck Purvis will be recognized with Outstanding Individual Achievement awards by the Foundation.

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Children's Hospital of Philadelphia Hosts Southern Chapter Meeting

PHILADELPHIA – The Southern Chapter of Credit Unions met on October 10th at Children’s Hospital of Philadelphia (CHOP) for the first meeting of the 2017-2018 chapter year. Participants were hosted by Francesca Cosmi, coordinator, cause marketing and Children’s Miracle Network (CMN) at CHOP’s Buerger Center for Advanced Pediatric Care (Raymond G. Perelman Campus).

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CUNA Economic Update Examines the Effect of the Credit Union Movement

MADISON, Wis., and WASHINGTON – CUNA has just released the October edition of the CUNA Economic Update. Sponsored by CUNA CFO Council and hosted by Jordan van Rijn, senior economist at CUNA, the update this month considers the effects of the credit union movement along with updated national economic prospects.

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CUAid Accepting Donations to Help CU People Affected by California Wildfires

MADISON, Wis. – The National Credit Union Foundation (the Foundation) is now accepting donations through the online disaster relief system CUAid.coop to raise money for credit union people affected by wildfires in Northern California. Credit union supporters in every state can make donations to the General Disaster Relief Fund at cuaid.coop.

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National CU Foundation Reports $2.3 Million in CU Support for Hurricanes Harvey, Irma, and Maria Relief

National Credit Union Foundation Director of Communications Christopher Morris appeared on CUBroadcast Thursday to provide an update on how credit unions have stepped up in a major way to support credit unions and their members impacted by Hurricanes Harvey, Irma, and Maria. Morris reports that more than $2.3 million in donations have been recorded so far to help those in Texas, Florida, and Puerto Rico.

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CUNA, NJCUL Continue Post-Equifax Breach Webinars

WASHINGTON – CUNA will detail credit unions’ legal rights resulting from the Equifax data breach during a member-only conference call Tuesday at 4 p.m. Registration is now open for the free conference call.

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Federal Home Loan Bank of New York Makes $1 Billion in Disaster Relief Funding Available

In response to the severe and extensive damage caused by Hurricanes Harvey, Irma and Maria, the Federal Home Loan Bank of New York (“FHLBNY”) has made $1 billion in disaster relief funding available to its members to help rebuild communities in FEMA-designated disaster areas in Puerto Rico, the U.S. Virgin Islands, Florida, Texas and the Southeast. The funds are being made available by the FHLBNY through its Community Lending Programs (“CLP”) to be used as both immediate gap financing and longer-term funding to restore homes and businesses.

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CUNA to File Lawsuit Against Equifax

WASHINGTON – CUNA announced Friday that the association will file a lawsuit against Equifax to protect credit unions and their members from harm as a result of the Equifax data breach.

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CUAid Accepting Donations to Help CU People Affected by Hurricane Maria

MADISON, Wis. – The National Credit Union Foundation (the Foundation) is now accepting donations through the online disaster relief system CUAid.coop to raise money for credit union people affected by Hurricane Maria. Credit union supporters in every state can make donations to the General Disaster Relief Fund at cuaid.coop.

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Shop for Miracles Set for ICU Day, Oct. 19

Credit unions across the United States are invited to celebrate International Credit Union Day on Thursday, October 19 by participating in Shop for Miracles, a one-day Credit Unions for Kids program that raises funds for local Children's Miracle Network Hospitals.

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CUNA, National CU Foundation to Participate in National Co-Op Festival

CUNA and the National Credit Union Foundation are participating in the National Cooperative Business Association’s National Co-Op Festival, Sept. 30 and Oct. 1, taking place on the National Mall in Washington, D.C. 

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Equifax CEO Steps Down Amidst Breach

ATLANTA – The Board of Equifax Inc. announced today that Richard Smith will retire as Chairman of the Board and Chief Executive Officer, effective September 26, 2017. The announcement comes amidst that credit bureau’s major data breach affecting over 143 million Americans' personal information, about half of the U.S. population. The company also faces multiple federal investigations over its handling of the hack and reports that executives sold an unusual amount of stock before the breach was publicly disclosed, according to the Washington Post.

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CUNA Releases 2Q Peer Profile Report

MADISON, Wis. & WASHINGTON – CUNA has released a brand-new version of its CUNA Peer Profile Report, a free resource for CUNA members that allows credit unions to compare their recent performance data with that of their closest peers in the industry.

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World Council activates Caribbean Relief Fund

The World Council of Credit Unions has activated its Caribbean Relief Fund in response to Hurricane Irma.

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CUNA Takes Breach Concerns to Equifax, Requests Briefing

CUNA President/CEO Jim Nussle encouraged Equifax to take additional steps to notify all consumers impacted by its data breach in a letter sent Wednesday. Equifax announced the breach late last week, which it said impacts 143 million American consumers, with an additional 209,000 credit card numbers also being stolen.

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South-Central Chapter Meeting Gathers for Lunch Meeting; Discusses Chapter System and Educational Opportunities

HIGHTSTOWN, N.J. – Gary Chizmadia, Chairman of the Board at Credit Union of New Jersey and South-Central Chapter President, led the South-Central Chapter meeting at the New Jersey Credit Union League Tuesday. The meeting’s discussion focused on the chapter system—its past, present, and future—and upcoming educational offerings from the League.

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National Credit Union Foundation Board Nominations Open

MADISON, Wis. – The National Credit Union Foundation (the Foundation) is currently seeking nominations for four board seats. Volunteers may generally serve up to three terms of the duration of the term of office for the seat they are selected, as long as they are re-nominated by the Foundation Nominations Committee and re-elected by the Foundation Board.

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Nearing 3 years, ‘Plexcity’ continues quest to add value to credit union leagues

ONTARIO, Calif. – Fresh into being a mere “start-up,” Plexcity is reaping noticeable attention in the credit union industry as it matures beyond those boundaries into a respected partner that is helping empower credit union trade associations and affiliate organizations—a goalpost its visionaries have worked tirelessly to reach.

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Update on CUAid: Activated for Irma, Continuing for Harvey

MIAMI, Fla. – The National Credit Union Foundation (the Foundation) has activated the online disaster relief system CUAid.coop to raise money for credit union people affected by Hurricane Irma. Credit union supporters in every state can make donations at cuaid.coop. Click here to make a donation.

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CUNA, CO-OP and PSCU Partner on Credit Union System-Wide Disaster Response

Hurricanes Harvey, Irma Prompt Collaborative Hotlines for Credit Union Members

WASHINGTON, D.C., RANCHO CUCAMONGA, Calif., and ST. PETERSBURG, Fla. – Credit Union National Association (CUNA), CO-OP Financial Services, and PSCU have collaborated on a system-wide disaster response for the credit union movement. Special toll-free numbers dedicated to helping credit union members with access and branch information as they may be displaced or their institution unavailable due to Hurricanes Harvey and Irma are now available.

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More than $1.8 Million in NCUA Grants Awarded, 6 NJCUL-Member Credit Unions Benefit

On Tuesday, the National Credit Union Administration (NCUA) announced it awarded more than $1.8 million in grants to 251 low-income credit unions. Six (6) NJCUL-member credit unions were awarded a total of $46,600 during this grant round: Local 1233 FCU, 1st Bergen FCU, Deepwater Industries FCU, Members 1st of NJ, MidState FCU, and Jersey Central FCU. In all, the agency received applications from 328 credit unions requesting more than $2.4 million.

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Relief Update: Harvey Aid from CU System Reaches $771K

As of Monday afternoon, the National Credit Union Foundation’s CU Aid and the Cornerstone Credit Union Foundation have collected more than $771,000 to support the needs of employees and volunteers of credit unions. Roughly $198,000 has come in through the Cornerstone Credit Union Foundation with the remaining contributions having been made to CU Aid. 

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CUs respond with more than $500K in Harvey assistance

Although they are barely in the first stages of recovery from destruction caused by Hurricane Harvey, leaders of the Cornerstone Credit Union League are already overwhelmed with the outpouring of support they have received from the credit union system.

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CUNA Donates $50,000 to CUAid for Harvey Relief

MADISON, Wis. — The Credit Union National Association (CUNA) announced Thursday it is donating $50,000 to Harvey relief efforts through CUAid, the National Credit Union Foundation’s disaster relief system. 

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Applications for NCUA’s Underserved Outreach Grant Initiative are Due Aug. 31

As part of its 2017 grant round, NCUA is accepting grant applications from eligible low-income credit unions for a grant to support projects that reach people living in our nation’s underserved communities. The maximum award is $25,000 dollars. Applications for funding under the outreach to underserved communities initiative must be received no later than Aug. 31 at 3 p.m. Eastern. An online application form, an explanation of grant’s requirements, and other information are available on NCUA’s Web site.

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CUAid Activated for CU People Affected by Tropical Storm Harvey

Houston, Texas – The National Credit Union Foundation (the Foundation) has activated the online disaster relief system CUAid.coop to raise money for credit union people in Texas affected by Tropical Storm Harvey. Credit union supporters in every state can make donations at cuaid.coop.

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Spread the Word About International Credit Union Day

The ICU day video is ready and available for you to share with your members!

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NCUA’s Final CDFI Qualification Round Runs Aug. 7 to Sept. 1

Streamlined Application Process Can Help Eligible Credit Unions

ALEXANDRIA, Va. – The National Credit Union Administration is hosting its third and final round for credit unions to qualify to use the streamlined application for certification as community development financial institutions.

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Plexcity Partners with ‘Gravitate Solutions’ to Enhance CU Associations

Will Deliver netFORUM Enterprise to Clients and Complete Suite of Services

ONTARIO, Calif. – Plexcity has chosen Gravitate Solutions to be the sole implementation and development partner for Plexcity’s trade association clients—many of which are state credit union leagues and industry affiliates.

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September is National Preparedness Month

This September, National Preparedness Month, will focus on planning ahead of time, with an overarching theme “Disasters Don’t Plan Ahead. You Can.”

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National CU Foundation Offers New Session Materials on Leveraging the Credit Union Difference

MADISON, Wis. – The national Credit Union Foundation this week launched a new suite of session materials on leveraging the credit union difference for CUs to use to train new employees, board members, etc.

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National Credit Union Foundation Approves 12 Biz Kid$ Financial Education Grants

Grants to Increase Reach of Award-Winning Financial Literacy Series

Madison, Wis. – The National Credit Union Foundation’s (the Foundation) board of directors has approved 12 new Biz Kid$ Financial Education Grants for 2017-2018, totaling $68,500. These grants are distributed to encourage credit union organizations to use Biz Kid$ and its curriculum to improve students’ financial well-being. Biz Kid$ is the credit union funded public television series that teaches kids about money management and entrepreneurship.

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Wells Fargo in Spotlight for Another Scandal, This Time Involving Car Insurance and Unlawful Repossessions

Wells Fargo was under fire again this week—less than a year after the scandal involving the bank opening millions of unwanted accounts for customers—this time for signing up auto-loan customers for insurance they didn't need.

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CUNA joins trades in comment letter on Reg CC changes

CUNA joined with other financial service organizations in filing a comment letter with the Federal Reserve Board regarding a proposed revision to Regulation CC.

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49 Dairy Queens Across Northern and Central New Jersey Celebrated Miracle Treat Day for CMNH!

On Thursday, July 27th, 49 Dairy Queens across New Jersey served hundreds of happy customers their favorite blizzards; giving back $1 or more to their local Children's Miracle Network Hospital, Children's Specialized Hospital, with every blizzard sold that day.

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Markel to Acquire State National

RICHMOND, Va. and BEDFORD, Texas – Markel Corporation (“Markel”) (NYSE: MKL) and State National Companies, Inc. (NASDAQ: SNC) announced that they have entered into a definitive agreement under which Markel will acquire all of the outstanding shares of State National common stock for $21.00 per share in cash. The transaction has a total value of approximately $919 million.

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NCUA to Host Webinar on New Learning Management Service

ALEXANDRIA, Va. — The National Credit Union Administration’s new Learning Management Service is up and running, and the agency is hosting a webinar to help credit unions learn about the service’s training resources on regulatory, operational and strategic subjects.

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NJ CU Financial Reality Fair Program Recognized by National Youth Involvement Board for Most Students Reached by a Team

BOSTON – At its Annual Meeting and Awards Dinner, the National Youth Involvement Board (NYIB) recognized the New Jersey Credit Union Financial Reality Fairs Program for the most students reached by a team.

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World Council Board Takes Office

VIENNA, Austria — Brian McCrory has been elected the Chair of World Council of Credit Unions Board of Directors. McCrory, who succeeded Daniel Burns, representing the Irish League of Credit Unions, formally took office during the World Credit Union Conference Annual General Meeting on Monday, 24 July in Vienna, Austria.

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NJCUL Congratulates LeDu on League InfoSight CEO Appointment

League InfoSight, a collaborative effort of credit union leagues, including PCUA, announced that Glory LeDu was appointed as CEO by the board of directors. She will be responsible for continuing to deliver collaborative and effective regulatory compliance solutions to credit unions directly through league/association partners.

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National CU Foundation’s Development Education (DE) Program Celebrates 35 Years

Madison, Wis. – Nearly a hundred certified Credit Union Development Educators (CUDEs) gathered in Tampa, Fla. recently to celebrate the 35th anniversary of the Credit Union Development Education (DE) Program. The popular philosophy training program from the National Credit Union Foundation (the Foundation) started in 1982 and continues to educate credit union professionals from around the world every year.

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2017 International Credit Union Day® Theme Announced: Dreams Thrive Here

MADISON, Wis. – World Council of Credit Unions (WOCCU) announced the 2017 International Credit Union (ICU) Day® theme — "Dreams Thrive Here" — celebrating the spirit of the global credit union movement. ICU Day is celebrated annually on the third Thursday of October and will take place this year on October 19.

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You’re Invited to Rutgers University’s 5th Annual Training Showcase

NEW BRUNSWICK, N.J. – You are invited to Rutgers University’s 5th Annual Training Showcase. Come preview the exciting new options Rutgers Workforce Development Unit has to offer.

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Make Your Financial Education Count! Deadline for Reporting to NYIB is FRIDAY, July 7th!

Is your credit union out in the schools, youth agencies and communities spreading financial education? Do you hold financial workshops that involve kids and/or young adults (through age 22)? The League encourages you to report your presentations on the National Youth Involvement Board Web site www.nyib.org by this year’s deadline: Friday, July 7th.

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Registration Open for November Development Education (DE) Training

Fourth Philosophy Program held by Foundation in 2017

MADISON, Wis. – Registration is now open for the November 2017 session of the Credit Union Development Education (DE) training, which takes place November 1 - 8, 2017 in Madison, Wis. Attendees of the National Credit Union Foundation’s (the Foundation) six-day total immersion experience will learn critical lessons in cooperative principles, credit union philosophy and international development issues while incorporating challenges credit unions face today.

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Bitcoin Exchange Operator Sentenced

NEW YORK – A Florida man was sentenced on Tuesday to 5 1/2 years in prison after being found guilty of operating an illegal bitcoin exchange suspected of laundering money for hackers and linked to a data breach.

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Southern Chapter Holds Election of Officers, Coordinator from CHOP Introduced

VINELAND, N.J. – The Southern Chapter of Credit Unions held a meeting Wednesday at the Hampton Inn in Vineland. The meeting covered various topics, including the election of chapter officials.

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Join the League and Unite With Your Community at National Night Out!

National Night Out, taking place August 1st, 2017, unites law enforcement and neighbors to create a true sense of community. Keeping with the credit union philosophy of "People Helping People", the League will be participating this year in the festivities in its local community of East Windsor.

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Wednesday’s Northern Chapter Meeting Postponed

The Northern Chapter Meeting originally scheduled for this Wednesday, June 21, 2017 has been postponed to Wednesday, September 13, 2017 at the Iberia Pennisula, Ferry Street, Newark, N.J. If you have any questions, please reach out to Chapter President Shirley A. McClinton-Watson at (973) 896-5221 or shirwatson@yahoo.com.

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48 CU Professionals Become Certified CU Development Educators (CUDEs) Through National Foundation’s Transformational CU Training

MADISON, Wis. – Forty-eight credit union professionals became Credit Union Development Educators (CUDEs) after being guided by dedicated program facilitators and mentors through the intensive Credit Union Development Education (DE) Training from the National Credit Union Foundation (the Foundation). The DE training was held May 31 – June 7, 2017 at the Lowell Center in Madison, Wis.

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NCUA State Credit Union Data Show Growth Trends Continuing in First Quarter of 2017

ALEXANDRIA, Va. – Federally insured credit unions across the country saw continued improvement in nearly every category during the first quarter of 2017, according to state-level data compiled by the National Credit Union Administration.

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2018 Wegner Award Nomination Deadline Approaching

MADISON, Wis. – With a deadline of July 28, 2017, 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 dinner on February 26, 2018 in conjunction with the Credit Union National Association (CUNA) Governmental Affairs Conference (GAC) in Washington, D.C.

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CUNA Announces Availability of ‘.creditunion’ Domain

CUNA has announced that credit unions are now able to register and identify themselves and their websites with a new domain, “.creditunion.”

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NCUA Releases Q1 2017 Credit Union System Performance Data

ALEXANDRIA, Va. – Data on the financial performance of federally insured credit unions in the quarter ending March 31, 2017, are now available from the National Credit Union Administration.

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Hampel: CUs Can Expect Corporate Stabilization Refund

The refund will come in the form of share-insurance fund dividends.

ORLANDO – CUNA Chief Economist/Chief Policy Officer Bill Hampel offered good news in his credit union update at the CUNA CFO Council Conference in Orlando: Credit unions can expect a series of refunds on their contribution to the corporate stabilization fund.

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CUNA Taxi Medallion Survey Report Now Available

Earlier this month, NJCUL and CUNA asked for your participation in collecting reliable benchmark data on taxi medallion participation loan operations and experiences.  The expectation was that this survey would provide you with meaningful information that would improve your efforts to collect on outstanding loans; provide medallion loan originators with peer comparison data that would improve service quality for participation holders; and provide supervisory authorities with feedback that might compel a more rational and uniform approach to the examination and supervisory process. The summary results are now available in the members-only CUNA-hosted Taxi Medallion Community.

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Young Savers Deposit $16.8M During CU Youth Month

The National Credit Union Youth Month’s savings challenge railed young members to deposit $16.8 million in their credit union accounts this April—double the amount deposited during the challenge last year.

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Northern Chapter Hears from NCUA, Holds Election of Officers

FAIRFIELD, N.J. – The Norther Chapter of Credit Unions held a meeting Tuesday night at Calandra's Mediterranean Grill in Fairfield where the chapter received an update from NCUA examiner Marcus Vander Wall. The Chapter also held elections for chapter officials during which Shirley A. McClinton-Watson of Newark Board of Education ECU was re-elected as Chapter President.

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Nominate a CU Rock Star

Each year,CUNA’s Credit Union Magazine recognizes the credit union movement’s Rock Stars: Those unique, innovative people who excel in their areas of expertise—and by doing so make our movement a better, more interesting place.

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NCUA Accepting Community Development Grant Applications Beginning July 1

Approximately $2 Million Available; NCUA Hosting June 14 Webinar with Details

ALEXANDRIA, Va. – Low-income credit unions interested in applying for Community Development Revolving Loan Fund grants can begin submitting applications on July 1, the National Credit Union Administration announced.

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Sackett Elected to National CU Foundation Board

MADISON, Wis. – At its May 12, 2017 meeting, the National Credit Union Foundation (the Foundation) board of directors elected John Sackett, Board Treasurer of Royal Credit Union in Eau Claire, Wis., to the Foundation board. The CUNA Board of Directors recently designated Sackett, a CUNA Board Member, as a CUNA Board representative on the Foundation board.  

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Home Depot Settlement Site Available, Claims Due by Sept. 14

A Web site is now available for credit unions wishing to make a claim to a portion of the Home Depot data breach settlement fund. Claims must be filed by Sept. 14.

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Registration Open for September Development Education (DE) Training

Third CU Philosophy Program Held by National CU Foundation in 2017

MADISON, Wis. – Registration is now open for the September 2017 session of the Credit Union Development Education (DE) training, which takes place September 13-20, 2017 in Madison, Wis. Attendees of the National Credit Union Foundation’s (the Foundation) six-day total immersion experience will learn critical lessons in cooperative principles, credit union philosophy and international development issues while incorporating challenges credit unions face today.

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Save the Date: Miracle Jeans Day Set for September 13th

Mark your calendars for the next big thing in Children Miracle Network Hospital fundraising!

Miracle Jeans Day will be September 13 this year! Watch for more information about how you'll be able to wear jeans and help kids in September! To register, visit http://cu4kids.org/miraclejeansday/

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Savings Lead March Credit Union Growth, According to CUNA Monthly Stats

MADISON, Wis. – Credit union savings balances grew at a brisk pace in March, according to CUNA’s Monthly Credit Union Estimates. “Overall balances increased by 2.6% in the month—an astounding 31.2% annualized gain and the fastest monthly increase in five years,” said CUNA Senior Economist Mike Schenk. The March increase was a bit faster than February’s gain but the more recent month ended on a Friday so it reflects big payday deposits.

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NJCFE Hosts Free ‘Teacher Exchange’ for Financial Educators and Credit Unions at the League Office

HIGHTSTOWN, N.J. – The New Jersey Coalition for Financial Education (NJCFE) hosted a free “Teacher Exchange” Tuesday for those teaching personal finance and financial literacy, including credit unions that offer these educational programs to members and potential members. 

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CUNA, Foundation to Host Financial Literacy Exhibit on Capitol Hill

WASHINGTON – CUNA will join forces with the National Credit Union Foundation today for Financial Literacy Day on Capitol Hill, an event sponsored by the Foundation. Representatives of CUNA and the Foundation will be on-hand this afternoon in the Rayburn House Office Building.

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CUNA, LEAGUES OUTLINE REG RELIEF PROPOSALS FOR SENATE BANKING LEADERS

WASHINGTON -- Credit unions could play a bigger role in the economy under a tailored regulatory structure, CUNA and all 38 credit union leagues wrote to Senate Banking Committee leadership Friday. In the letter, CUNA and the leagues listed 4 proposals that could create economic growth by fostering a more favorable environment for credit unions.

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Help Credit Unions for Kids Change a Child’s Life

It’s amazing what a little pocket change can do to help a child at a Children’s Miracle Network Hospital. Credit unions locally and across the nation are participating in Change a Child’s Life, a coin drive benefiting their local Children’s Miracle Network Hospital.  

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April 18 NCUA Twitter Chat Will Focus on Personal Finances

Join the #NCUAChat Conversation to Hear About Improving Financial Well-Being

ALEXANDRIA, Va. – Personal finances and building financial security will be the focus of the National Credit Union Administration’s April 18 Twitter chat, part of the agency’s activities during Financial Capability Month.

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Small Merchants Want Card Choice, Not Price Caps, Study Finds

WASHINGTON – Javelin Strategy & Research and the Electronic Payments Coalition (EPC) released a report last week that reveals small merchants are more concerned with value, and less concerned about price, when it comes to the fees that they pay for debit card transactions.

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Additional Financial Literacy Month Resources Available at MyCreditUnion.gov

ALEXANDRIA, Va. – Educated consumers are better-prepared to build financial security and protect themselves from scams, and the National Credit Union Administration encourages credit unions to continue helping members better understand personal financial matters during Financial Literacy Month.

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CUs Celebrate Financial Fitness in April

April means spring, a time of optimism, and credit unions will inspire their members to begin their path toward financial freedom by marking three key celebrations this month.

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April is National Donate Life Month!

NJ Sharing Network encourages all communities to learn more about the life-saving benefits of organ and tissue donation. Increased awareness can be very helpful when talking with family members, friends and co-workers about the benefits of organ donation. Learn how you can help! 

The shortage of donors is so severe that every day 22 people die waiting for organs that could have saved their lives. Your decision to register as an organ and tissue donor can save 8 lives and restore health to over 75 others.

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National CU Foundation Receives Diamond Awards for Outstanding Achievements in Marketing & BD

Honors Received for New Podcast & Life Simulation Video

MADISON, Wis. – The National Credit Union Foundation (the Foundation) was honored last week with two Diamond Awards, which recognize outstanding marketing and business development achievements in the credit union industry.

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CUNA Urges Appropriations Leaders to Fully Fund CDFI Fund

WASHINGTON – CUNA wrote to House and Senate Appropriations Committee leaders Wednesday urging full funding for the Community Development Financial Institutions (CDFI) Fund, for which the Donald Trump administration has requested Congress to eliminate funding. The fund, administered by the Treasury, makes capital grants, equity investments and awards for technical assistance to certified CDFIs.

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CUNA Offers FinCEN Improvements to BSA/AML Requirements

WASHINGTON – CUNA urged the Treasury’s Financial Crimes Enforcement Network (FinCEN) to ensure any regulatory changes it pursues relating to the collection of information filings be as minimally burdensome on credit unions as possible. CUNA’s letter was sent in response to proposed revisions to the collection of information filings by financial institutions required to file such reports under the Bank Secrecy Act (BSA), which includes credit unions.

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CUNA Secures Rights to .creditunion Domain

CUNA, with the generous support of CUNA Mutual Group and CO-OP Financial Services, was able to secure the rights to the .creditunion domain from the Internet Corp. for Assigned Names and Numbers (ICANN). Beginning this summer, credit unions will be able to register and use a .creditunion domain name of their choice to serve as a trusted source identifier on the internet for their members.

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Burdens Impacting Credit Availability, CUNA Tells House Subcommittee

WASHINGTON – CUNA urged a House subcommittee Tuesday to consider the impact of regulatory burden when examining the availability of credit for consumers and small businesses. CUNA wrote to leadership of the House Financial Services subcommittee on financial institutions and consumer credit for the record of its hearing on the state of lending in America.

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CU Family of Races to Present $580K to CMNH this Weekend

WASHINGTON – Credit unions across the country will present a $580,485 donation to Children’s Miracle Network Hospitals Sunday, the date of two popular, credit union-hosted races. The Cherry Blossom Ten Mile Run in Washington, D.C. and the Credit Union SacTown Run in Sacramento, California, along with two races overseas, make up the Credit Union Family of Races.

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National Foundation to Host Financial Education Twitter Chat on April 5th

MADISON, Wis. – To help kick-off National Financial Literacy Month, the National Credit Union Foundation (the Foundation) is hosting a Twitter chat for credit unions on Wednesday, April 5th at 4 p.m. The Foundation invites credit unions to discuss their financial education activities during the chat.

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CUNA Seeks Implementation of EGRPRA Report Recommendations

WASHINGTON – CUNA hopes NCUA works to implement the recommendations released this week in a report from Federal Financial Institutions Examination Council (FFIEC) agencies, part of a review of the agencies’ rules. The review was conducted as part of the Economic Growth and Regulatory Paperwork Act (EGRPRA), and while the NCUA was not required to participate, it did so voluntarily.

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CFPB Leading to Rising Costs, Fewer Choices, CUNA Says

WASHINGTON – A Consumer Financial Protection Bureau (CFPB) led by a single director is not working for credit unions and has created a rigged system benefitting large banks, CUNA wrote to the House Financial Services subcommittee on oversight and investigations Tuesday.

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CUNA to Highlight CFPB Impact on CUs, Members for Hearing

WASHINGTON – CUNA will show the House Financial Services oversight and investigations subcommittee how the Consumer Financial Protection Bureau’s (CFPB) structure impacts credit unions and their members. The subcommittee is conducting a hearing Tuesday at 10 a.m. examining the bureau’s structure.

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Learn Best Practices for Financial Literacy and Youth Marketing

Are you looking for financial literacy curriculum? Want to learn about Reality Fairs? Student branches? How to reach the college audience? Or just want some fresh ideas to add to your financial education outreach? Then you should be at the 2017 NYIB conference!

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Bankers, CU Reps Cry Foul on Proposed Cuts to CDFI Fund

Article originally featured in CU Journal.

WASHINGTON – In a budget that was otherwise relatively short on specifics, the Trump administration on Thursday called for eliminating the Treasury Department’s grant programs for community development financial institutions, a popular industry feature that helps impoverished communities access financial services.

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CUNA Pledges Support for Fully-Funded CDFI Fund

WASHINGTON – As a strong supporter of programs that help credit unions better serve their members, CUNA pledged to support funding for the U.S. Treasury’s Community Development Institutions (CDFI) Fund, funding for which was eliminated in President Donald Trump’s budget proposal released last week.

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CUNA Launches Small CU Community

MADISON, Wis. – In an effort to support the movement’s small credit unions, CUNA recently created the CUNA Small Credit Union Community, an online platform where small credit union leaders from across the country can share ideas, collaborate and solve problems collectively.

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CUNA Calls for 180-Day Fiduciary Delay, Research on Impact

WASHINGTON – The Department of Labor (DOL) should delay its fiduciary rule by at least 180 days, CUNA wrote in a letter to the agency Thursday. In the letter, CUNA also called for additional efforts and research to ensure that credit union members are not harmed by unintended consequences of overly broad rules.

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NCUA Files Response to FOM Lawsuit, CUNA Plans Support

WASHINGTON – The NCUA filed a response to the lawsuit against its final field-of-membership (FOM) rule brought by the American Bankers Association (ABA). CUNA is tracking the lawsuit, and plans to support the NCUA in its defense of the rule.

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