Harroun PC
Client Login  
 
ok
forgot password
Credit Union Daily News
 
Schools: Credit unions are 'friends' on financial journey
Chartway Credit Union President/CEO Brian Schools, who will chair the America's Credit Unions Transition Board, wrote that credit unions are the best friend a consumer can have when it comes to securing a financial future.

Tom Kane awarded AACUL’s highest honor
AACUL honored Tom Kane, President/CEO of the Illinois Credit Union League and Envisant, with its highest accolade, the prestigious Eagle Award.

Dykstra: CUs offer transparent options, not 'junk fees'
It's imperative to separate the sensational misconceptions when it comes to overdraft, writes California and Nevada Credit Union Leagues President/CEO Diana Dykstra, adding that opting in to overdraft protection is a valued and worthwhile choice for many credit union members.

America’s Credit Unions prepares for launch
The merger of CUNA and NAFCU culminates next week with the official launch of America’s Credit Unions. This transformation is to provide the credit union industry a stronger and more responsive voice on the national stage. NAFCU Board of Directors Chair Gary Grinnell and CUNA Board of Directors Chair Lisa Ginter recently signed documents to certify the merger.

FinCEN releases long-awaited BOI access rule
FinCEN has issued its final beneficial ownership information (BOI) Access Rule. The Corporate Transparency Act (CTA) requires creation of a BOI database where companies and legal entities report BOI directly to FinCEN; financial institutions will have access to the database.

CUNA files comments on proposal to simplify share insurance coverage rules
CUNA submitted comments to NCUA supporting regarding the Simplification of Share Insurance Rules proposal to simplify the share insurance regulations by establishing a “trust accounts” category that would provide for coverage of funds of both revocable trusts and irrevocable trusts.

Registration open for Jan. 3 “Credit Union Diversity Self-Assessment” webinar

NCUA is hosting a webinar on January 3 to share key data points from the 2022 Credit Union Diversity Self-Assessment Results Report and provide information on how to submit your credit union’s 2023 voluntary assessment.


Nussle selects executive leaders for America’s Credit Unions

Today, Jim Nussle, who will serve as President/CEO of America’s Credit Unions beginning Jan. 1, 2024, announced the Executive Leadership Team for the new association. 


Senate confirms Otsuka to serve on NCUA board
The Senate voted to confirm Tanya Otsuka to serve on the NCUA board Wednesday.

NCUA releases Q3 2023 state-level credit union data report

The median growth rate in loans outstanding and membership at federally insured credit unions was positive over the year ending in the second quarter of 2023, according to the latest Quarterly U.S. Map Review released Wednesday by NCUA.


CUNA offices closed Dec. 22, 25 and Jan. 1
CUNA offices in Madison, Wis., and Washington, D.C., will be closed Friday, Dec. 22 and Monday, Dec. 25, in observance of the Christmas holiday. There will be no Daily newsletter Dec. 22 to Jan. 2 unless breaking news occurs. 


Credit union loans outstanding increased 0.4% in October
Credit union loans outstanding increased 0.4% in October, compared to a 0.5% increase in September of 2023 and a 1.2% increase in October of 2022, according to the latest Monthly Credit Union Estimates. 

Biden vetoes resolution to void CFPB Section 1071 rule
An effort to void the Consumer Financial Protection Bureau’s (CFPB) section 1071 rule ended at the White House late Tuesday.

Interest rate cap proposal would hurt small dollar borrowers

A rate cap bill introduced by Sen. Jack Reed, D-RI is raising concerns about its potential negative impact on consumers who need access to small dollar loans. 



AACUL Winter Conference brings together League leaders to connect ideas, vision and impact

With a focus on the American Association of Credit Union Leagues’ recently updated mission, vision, and strategic pillars, credit union system leaders gathered in California this month for the 2023 AACUL Winter Conference. 


Rep. Barr introduces CUNA-backed UDAAP Reform legislation

Rep. Andy Barr, R-Ky., introduced a CUNA-supported bill that will rein-in the Consumer Financial Protection Bureau’s abuse of its authority to oversee unfair, deceptive, and abusive acts and practices, known as UDAAP. 


Advance, connect, excel: Invest in your credit union career with 2024 Councils membership

Now is the time for credit union leaders to join their respective Council for 2024. 


NCUA approves budget, revises operating fee schedule methodology
The NCUA Board adopted a final 2024-2025 budget at its Thursday meeting. The approved budget is roughly $8.8 million lower than the proposed 2024 budget.

2022 Credit Union Diversity Self-Assessment results now available
The 2022 Credit Union Diversity Self-Assessment Results Report is now available. In 2022, 481, or 10% of all credit unions, submitted a self-assessment. The figure represents an all-time high for submissions to the NCUA.

Watch: Economic update
CUNA Senior Economist Dawit Kebede shares macroeconomic trends and forecasts for 2024.

CUNA, NAFCU announce 2024 event lineup
As members of CUNA and NAFCU last month approved the merger of the two organizations to form America’s Credit Unions, the associations have released the 2024 event lineup. All credit union members can attend the events at member pricing.

Stverak: Big box interchange bill would harm everyone but biggest retailers
CUNA Deputy Chief Advocacy Officer for Federal Government Affairs Jason Stverak spoke with CBS21 on credit unions' efforts against the big box interchange bill and how it would negatively impact everyone except the biggest retailers. 

CDFI Fund opens FY24 CDFI program, NACA program application round
The Treasury’s Community Development Financial Institutions Fund has opened the FY 2024 funding round for the Community Development Financial Institutions program and Native American CDFI Assistance program. The CDFI Fund plans to award approximately $462 million in FY 2024 awards

CUNA publishes analysis of updated CDFI Certification Application
CUNA posted initial analysis of the Community Development Financial Institution Certification Application on CUNA’s Compliance Community, and while it will take weeks to dig into the complete details, changes appear to be ultimately positive.

Credit unions recognized with Children's Miracle Network Hospitals Founder's Award
Credit unions received the Children's Miracle Network Hospitals Founder's Award for their legacy of support for CMN Hospitals. Credit unions have been proud partners of CMN Hospitals through CU4Kids since 1996 and have raised more than $200 million benefiting local member hospitals.

House, Senate NDAA votes scheduled this week in Congress
The House and Senate are in Washington, D.C., this week and both are expected to consider the conference report for the FY24 National Defense Authorization Act (NDAA), in addition to other legislative matters. The NDAA contains no financial services-related provisions. 

Lending, assets, insured shares, delinquencies rise in Q3

Total loans outstanding in federally insured credit unions increased 9.1% over the year ending in the third quarter of 2023, according to NCUA.


Grant supports digital transformation of Ukrainian credit unions
Worldwide Foundation for Credit Unions, in partnership with the USAID/World Council of Credit Unions Credit for Agriculture Producers Project, launched a $200,000 digitalization program to help Ukrainian credit unions upgrade core banking systems and modernize services.

Operating fee/OTR methodology, budget vote on NCUA's Dec. 14 agenda
The NCUA Board will vote on a final 2024-25 budget and issue a request for comment on its Overhead Transfer Rate (OTR) methodology at its Dec. 14 meeting. The meeting is scheduled to begin at 10 a.m. ET and will be streamed live on NCUA.gov.

©2007 - 2024 Harroun P.C. · All rights reserved. · Designed and Hosted by Custom Web Concepts.