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The Advocate Blog

Aid Our Advocacy Mission: Report Your Micro-Lending Initiatives

Help us collect data on how Virginia’s credit unions are aiding members by reporting your micro-loan data through our Reality Check survey.

We ask that you report information on loans you’ve made of $3,000 or less, excluding credit cards. Please give us a hand and provide this data, which we use to... More

Credit Union Call to Action: Data Breach Legislation, S. 961

Sens. Tom Carper (D-DE) and Roy Blunt (R-MO) have introduced a data breach bill, S. 961, the Data Security Act of 2015, which strengthens merchant standards to be comparable with those of credit unions and other financial institutions. It also mandates a federal notification requirement for merchants... More

League, CUNA File RBC2 Comment Letter, Encourage CUs to Weigh-In by April 27 Deadline

Your League this week submitted its comment letter on the National Credit union Administration's revised risk-based capital plan (RBC2). CUNA submitted its comment letter Friday. While holding firm to the view that the rule is unnecessary and should be tabled, the letters offer a number of constructive... More

Virginia Highlights from the GAC: Warner Notes Support of CU Tax Exemption; Beyer Visits CU House

By Karin Sherbin
ksherbin@vacul.org 

Even though the House is in recess this week, freshman Rep. Don Beyer (D-8) traveled into Washington to stop by the League’s reception Tuesday evening at CUNA’s Credit Union House.

Beyer thanked credit unions for supporting his campaign. He noted that in his... More

Credit Union Bills Signed Into Law

Our hard work paid off handsomely last Thursday when Gov. Terry McAuliffe signed into law our two credit union bills. We appreciate our credit unions' support during the recently completed General Assembly session in getting these two bills passed.

"It's been a good General Assembly session for credit... More

Credit Union Bills Headed to Governor's Desk

H.B. 1487, the Prize Linked Savings Accounts bill,  and H.B. 1629, our ATM bill, passed the state Senate by a vote of 38-to-0 late last week. That vote completes the legislative process for our credit union legislation during this session of the General Assembly. The bills now go to Gov. Terry McAuliffe... More

League President Rick Pillow Reports that Credit Union Bills Win House Approval

SB 737 (prize-linked savings promotions) and SB 875 (excludes ATMs from definition of a service center), our Credit Union Legislation, passed the House Monday on a 99-to-0 vote, and now these bills are ready for the Governor's signature.

In addition, Credit Union legislation HB 1487 (prize-linked... More

League Heralds Passage of Prize-Linked Savings Bill by Virginia House; Making Progress Through Senate

Our first credit union bill, HB1487 Prize Linked Savings Program, has passed the House of Delegates today on a 97-0 vote. It was the first bill on the House calendar today.

In addition, SB737, the Senate version of the Prize Linked Savings Program, has passed the Senate on first reading... More

Senate Committee Passes Prize-Linked Savings Bill

The Senate Commerce and Labor Committee passed our prize-linked savings bill (SB737) this afternoon. The bill was introduced by Sen. John Cosgrove.

The bill allows credit unions and other financial institutions to offer prize-linked savings accounts, giving members/customers the opportunity to win... More

General Assembly Convenes Jan. 14; 2 CU Bills on the Agenda

busy session awaits Virginia lawmakers when the 2015 General Assembly kicks off tomorrow. Credit unions will have two bills this session. One would allow credit unions and other financial institutions to offer prize-linked savings accounts and the other would exclude ATMs from the definition... More

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