Industry News

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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Two More Interest Rate Raises Anticipated this Year, CUNA Says

WASHINGTON – The Federal Open Market Committee decided Wednesday to raise the federal funds interest rate range from 0.75% to 1%. CUNA says the action was expected, and CUNA anticipates similar actions later this year.

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Fourth-Quarter 2016 State Credit Union Data Show Growth Trends Continuing

​ALEXANDRIA, Va. – Federally insured credit unions saw continued improvement in nearly every category during the fourth quarter of 2016, according to state-level data compiled by the National Credit Union Administration.

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CDFI Webinar Today

NEW YORK – The National Federation of Community Development Credit Unions will host a Webinar to explain the latest changes to the community development financial institution (CDFI) application process. The Webinar will be held at 2 p.m.

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Deadline Approaching for Biz Kid$ Financial Ed Grants from the National CU Foundation

Grants Extend Reach of Award-Winning Financial Literacy Series

MADISON, Wis. – Credit union organizations have until March 31, 2017 to apply for a Biz Kid$ Financial Education Grant from the National Credit Union Foundation (the Foundation). The Foundation is looking to distribute up to $75,000 in grant funds to credit union organizations as part of this effort.

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NCUA Issues 2016 Annual Report

ALEXANDRIA, Va. – The National Credit Union Administration released its 2016 Annual Report, highlighting the agency’s activities, policy initiatives, and accomplishments for 2016.

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7th Annual NJ CU Foundation Night Was a Sure Bet!

ISELIN, N.J. – Thursday’s 7th Annual New Jersey Credit Union Foundation Casino Night fundraiser brought together credit union industry leaders, volunteers, and friends from around the state for a Texas Hold ‘Em Tournament and casino table games, all for a great cause! The final numbers aren’t yet available, but it looks like the 7th Annual Casino Night was a success for the New Jersey Credit Union Foundation.

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CUNA Pushes for Improvements in Government-Guaranteed Lending

WASHINGTON – CUNA encourages Congress to improve credit unions’ ability to offer Small Business Administration (SBA) 7(a) loans, as well as other government guaranteed loans, CUNA President/CEO Jim Nussle wrote to leadership of a U.S. House Small Business subcommittee Thursday. SBA 7(a) and other government-guaranteed loans are important to credit unions because the guaranteed portions of the loan do not count against the member business lending cap.

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MBL Rule Vindicated as ICBA Does Not Appeal Dismissal

WASHINGTON – CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) issued a statement Thursday on the Independent Community Bankers of America (ICBA) not filing any appeal, which was due Feb. 23, over U.S. District Court Judge James Cacheris’ granting the NCUA’s motion to dismiss the banking trade's lawsuit against NCUA and its member business lending rule.

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NCUA: Q4 2016 Credit Union System Financial Performance Data Now Available

ALEXANDRIA, Va. – The National Credit Union Administration released the new credit union system financial performance figures based on Call Report data submitted to and compiled by the agency for the quarter ending Dec. 31, 2016.

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The National Foundation Accepts President’s Volunteer Service Award on Behalf of America’s CUs

CUs Awarded for Support of Junior Achievement USA

NEW YORK – On behalf of America’s credit unions, the National Credit Union Foundation (the Foundation) accepted the U.S. Gold President’s Volunteer Service Award for the 2015-2016 school year. This award was presented by Junior Achievement (JA) USA, an official certifying organization for this award, at JA’s 2017 Volunteer Summit on March 7, 2017 for the over 15,000 volunteer hours dedicated to Junior Achievement programs by America’s credit unions.

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CUNA Represents CU Perspectives at Faster Payments Meeting

WASHINGTON – CUNA continued its efforts to achieve faster payments last week, participating in a two-day meeting of the Federal Reserve’s Faster Payments Task Force in Atlanta. The task force released the first part of its final report in January, and last week’s meeting discussed the forthcoming second half of the report.

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UBS’s Gary Tantleff Ranked as #1 Advisor in New Jersey

BEDMINSTER, N.J. – Gary Tantleff, UBS Financial Services Managing Director - Investments, has once again been named Barron’s #1 Financial Advisor in New Jersey.

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Stabilization Fund Earns Clean 2016 Audit

ALEXANDRIA, Va. – The Temporary Corporate Credit Union Stabilization Fund has received a seventh consecutive clean audit opinion, the NCUA announced Tuesday.

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Iowa League's Pat Jury Elected as CUNA Chair

WASHINGTON – Incoming CUNA Board Chair Pat Jury pledged to spend his year as chair leading with “strength and determination” in his remarks Tuesday at CUNA Governmental Affairs Conference.

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Hollen, Martinez , The Cooperative Trust Honored by National CU Foundation

WASHINGTON – The National Credit Union Foundation (the Foundation) presented three Herb Wegner Memorial Awards at its annual dinner Monday night at the Marriott Marquis in conjunction with the Credit Union National Association (CUNA) Governmental Affairs Conference (GAC) in Washington, D.C. Denise Gabel, Chief Operating Officer of the Northwest Credit Union Association, served as the night’s emcee.

A record-breaking group of over 900 credit union leaders and supporters attended the dinner. The awards ceremony celebrated the highest national honors in the credit union movement:

  • Outstanding Individual Achievement: Stan Hollen, retired President/CEO of CO-OP Financial Services;
  • Outstanding Individual Achievement: Maria Martinez, President/CEO of Border Federal Credit Union; and
  • Outstanding Program: The Cooperative Trust from Filene Research Institute. 
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Influential Policymakers Scheduled to Speak at CUNA GAC

WASHINGTON – With this year’s CUNA Governmental Affairs Conference (GAC) less than a week away, a number of key policymakers have been confirmed to address the more than 5,000 credit union leaders in attendance. A complete list of CUNA GAC keynote speakers and breakout sessions can be found at cuna.org/gac.

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Judge Recommends Denying Dismissal of Wendy’s Breach Suit

PITTSBURGH – A magistrate judge in the Wendy’s data breach lawsuit has recommended denying the restaurant chain’s motion to dismiss, according to an interim ruling released this week. CUNA urged the court to reject the motion to dismiss in a brief filed in September with the U.S. District Court for the Western District of Pennsylvania.

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Nussle Talks DOL Secretary Pick, Budget Challenges on CNBC

WASHINGTON – CUNA President/CEO Jim Nussle appeared on CNBC’s Squawk on the Street Friday morning to discuss a number of issues facing the administration. Nussle served as director of the Office of Management and Budget from September 2007 to January 2009.

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Leagues Continue Call for Reg. Relief in Local Media

WASHINGTON – Credit union leaders continue to highlight the movement’s pro-consumer attributes in the pages of local publications across the nation. The pieces reinforce the work of CUNA’s Campaign for Common-Sense Regulation, a bipartisan, pro-consumer campaign to achieve regulatory relief through legislative and regulatory advocacy.

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CUNA Highlights Need for Common-Sense Relief in USA Today

WASHINGTON – CUNA President/CEO Jim Nussle highlighted the need for common-sense regulatory relief in a letter to the editor published in USA Today Sunday. Weighing in on the debate over the future of the Consumer Financial Protection Bureau (CFPB), Nussle lamented the effects of one-size-fits-all regulation.

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CUNA GAC Giveback Celebrates ‘A Special Time’ for CUs

WASHINGTON – CUNA and its system partners are working hard to make the first CUNA Governmental Affairs Conference’s (GAC) giveback event a huge success.

Attendees are asked to bring items for a donation drive in support of Bright Beginnings, a nationally accredited child and family development center that offers a bright start for homeless infants, toddlers, preschoolers and their families in Washington, D.C.

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CUNA White Paper Outlines Corp. Resolution Wind-Down Issues

MADISON, Wis. – CUNA published a white paper Thursday examining three policy decisions the NCUA will need to make concerning the wind-down of the agency’s Corporate Resolution Program. CUNA, the leagues and member credit unions will analyze the issues over the coming months and provide recommendations to the NCUA.

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Project Zip Code Hits Milestone, 90M CU Members Matched to Lawmakers

WASHINGTON – CUNA’s Project Zip Code has matched its 90 millionth credit union member to their congressional district, a major milestone for one of the CUNA/League-system’s signature advocacy tools. Project Zip Code matches credit union membership data to congressional and state legislative districts, as well as counties.

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CUNA's Nussle Describes Reg. Relief Efforts Leading to GAC in Nussle Report

MADISON, Wis. – With CUNA's Campaign for Common-Sense Regulation underway and CUNA Governmental Affairs Conference less than a month away, CUNA has been on Capitol Hill talking to members of Congress and key committee staffers.

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Modifications to Love My Credit Union Rewards Partner Programs

CU Solutions Group reminds you of recent program changes. As of November 1, 2016, the DIRECTV and Allied programs came to a close, and the CU Road Pal program came to a close on January 1, 2017. Regarding the elimination of these programs, below is information on changes to marketing materials orders and banners changes. Please review the following and take action where necessary:

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Registration Open for June Development Education (DE) Training

Second of Four CU Philosophy Programs to be Held by Foundation in 2017

MADISON, Wis. – Registration is now open for the second Credit Union Development Education (DE) training of 2017, which takes place May 31 – June 7, 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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CUNA Congratulates McWatters on Being Named NCUA Chairman

WASHINGTON – J. Mark McWatters was named acting chairman of the NCUA board Thursday by President Donald Trump. McWatters has served as a board member since August 2014.

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Bankers’ MBL Lawsuit Dismissed

WASHINGTON – The U.S. District Court of the Eastern District of Virginia granted the NCUA’s motion to dismiss an Independent Community Bankers of America (ICBA) lawsuit against the agency and its member business lending (MBL) rule Tuesday. CUNA, along with National Association of Federally Insured Credit Unions (NAFCU), filed an amicus brief in support of dismissal.

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Leagues Call for Pro-Consumer Reg. Relief Nationwide, Frankil Op-ed Published

WASHINGTON – As CUNA’s bipartisan, pro-consumer Campaign for Common-Sense Regulation gets underway, CUNA and state leagues are taking to publications across the country to highlight the number of ways credit unions are fighting to better serve consumers. League efforts in several states, including New Jersey, have led to recent articles on how credit unions can better serve consumers through regulatory relief.

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Few Weeks Left to Purchase Tickets & Sponsorships for National CU Foundation’s Wegner Dinner

MADISON, Wis. – The deadline is approaching for credit union leaders and supporters to purchase their sponsorships and tickets for the 29th annual National Credit Union Foundation Dinner Presenting the Herb Wegner Memorial Awards. The dinner will take place on February 27, 2017 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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National Foundation Announces Open Registration for April Development Education (DE) Training

First of Four CU Philosophy Programs to be Held by the Foundation in 2017

MADISON, Wis. – Registration is now open for the first Credit Union Development Education (DE) training of 2017, which takes place April 26 – May 3, 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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CFPB to Host a 'Behind on Bills' Resource Webinar

The Consumer Financial Protection Bureau announced a “Your Money, Your Goals” Webinar on its latest resource: "Behind on Bills". This Webinar will provide an overview of the new resource and how you can use it with the people you serve.

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Pew ODP Study Misunderstands Products, Regulations, CUNA Says

WASHINGTON – In a study released this week, Pew Charitable Trust makes sweeping conclusions about overdraft services for all consumers based on a study that looks at the practices of a small number of hand-picked banks.

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Children’s Miracle Network Hospitals and Credit Unions for Kids Officially Announce #VoteForMiracles Campaign Winners

Winning Hospitals will Share in a $100,000 on Behalf of America’s Credit Unions and CO-OP Financial Services 

SALT LAKE CITY – Children’s Miracle Network Hospitals and Credit Unions for Kids announced the five winners of the 2016 “Vote for Miracles” promotion. Over the course of 22 days, almost 300,000 votes were cast for 141 CMN Hospitals. In addition, members representing more than 2,500 credit unions cast votes during the campaign. 

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December 2016 CU Trends Report from CUNA Mutual Group Now Available

The December 2016 Credit Union Trends Report from CUNA Mutual Group is now available

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Garner & Roy Elected to National CU Foundation Board

McCathran, Middleman, Nava & Spencer Re-Elected

MADISON, Wis. – At its December 9, 2016 meeting, the National Credit Union Foundation (the Foundation) board of directors elected Kathy Garner, president/CEO of Catalyst Corporate FCU in Plano, Texas, and Carlyn Roy, president/CEO of TAPCO CU in Fircrest, Wash., to the Foundation board.

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CUNA in Attendance for Today’s Motion to Dismiss MBL Suit

ALEXANDRIA, Va. – The U.S. District Court for the Eastern District of Virginia is scheduled to take up NCUA’s motion to dismiss the Independent Community Bankers of America’s (ICBA) lawsuit challenging the agency’s member business lending rule today. CUNA and the National Association of Federal Credit Unions (NAFCU), which have jointly moved to file an amicus brief, will be present.

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CUNA/League System Named Top Financial Services Trade Association

WASHINGTON – A National Journal survey of policymakers found the CUNA/League system ranked first among all financial services trade associations studied in terms of advocacy effectiveness. This quantitative analysis, based on a survey of policymakers who were aware of CUNA, found the CUNA/League system to be 6th out of the top 44 associations studied across all industries.

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Third-Quarter State Credit Union Data Show Overall Growth Trends Continuing

​ALEXANDRIA, Va. – Federally insured credit unions saw continued improvement in nearly every category during the third quarter of 2016, according to state-level data compiled by the National Credit Union Administration released Monday.

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Vote. Share. Repeat.

From now through December 20, individuals are voting for their favorite Children’s Miracle Network (CMN) Hospital to win up to $50,000 at VoteForMiracles.org.

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Distressed Mortgage Rate Still Highest in N.J.

New Jersey has led the nation in the percentage of residential mortgages considered “distressed” for the third year in a row according to the latest numbers from the Mortgage Bankers Association.

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Foundation Hosts Special Holiday Twitter Chat on 12/8

MADISON, Wis. – As the end of the year approaches, the National Credit Union Foundation (the Foundation) is hosting a “Special Holiday Edition” of their bi-monthly Twitter chats for credit unions on Thursday, December 8th at 4 pm. The Foundation invites credit unions to discuss their efforts to help staff, members and communities during the holiday season.

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Visit VoteForMiracles.org Today Better Than a Sticky Note

Vote for your favorite Children’s Miracle Network (CMN) Hospital on Tuesday, November 29! Enter your email address at www.VoteforMiracles.org to receive an email reminder when the promotion begins. It could be the difference in helping your local CMN Hospital win a share of $100,000 through #VoteForMiracles.

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Vote for Your Favorite Children’s Miracle Network Hospital

‘Vote for Miracles’ Promotion runs Nov. 29 through Dec. 20

SALT LAKE CITY – Children’s Miracle Network Hospitals announced a nationwide “Vote for Miracles” campaign celebrating the 20th anniversary of the Credit Unions for Kids program. From November 29 through December 20, credit unions and the general public are invited to cast their votes to support their favorite CMN Hospital. At the conclusion of the promotion, the top five hospitals will be awarded a total of $100,000 on behalf of “credit unions”, compliments of CO-OP Financial Services.

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Foundation Calls for Proposals to Conduct 'Consumer Financial Health Check-Ups' by CUs

MADISON, Wis. – The National Credit Union Foundation (the Foundation) is looking for credit unions to submit proposals leveraging the Center for Financial Services Innovation’s (CFSI) consumer financial health assessment tool.

CFSI is one of the leading organizations dealing with the subject of consumer financial health. CFSI’s Consumer Financial Health Study found that 57% of Americans are financially unhealthy, lack daily financial systems that serve them well, struggle to weather financial shocks, and are not well-positioned to pursue their financial aspirations.

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Foundation Issues RFP for Financial Health Assessment Tool

MADISON, Wis. – The National Credit Union Foundation is looking for credit unions to submit proposals leveraging the Center for Financial Services Innovation’s (CFSI) consumer financial health assessment tool.

CFSI is one of the leading organizations dealing with the subject of consumer financial health. CFSI’s Consumer Financial Health Study found that 57% of Americans are financially unhealthy, lack daily financial systems that serve them well, struggle to weather financial shocks, and are not well-positioned to pursue their financial aspirations.

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