CURRENT Newsletter | August 15, 2023
CURRENT Newsletter | August 15, 2023
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The Virginia Credit Union League is pleased to announce the winners of its 2023 Social Responsibility & Member Service Awards. Each year, the League and the Credit Union National Association sponsor four awards competitions to recognize credit unions for their work in financial education, community service and outreach, and excellence in member service.
“Every day, credit unions showcase the ‘Credit Union Difference’ through their service to members and through their support of the communities they call home,” said Virginia Credit Union League President/CEO Carrie Hunt. “Whether it’s preparing young people to successfully manage their finances, helping a member become a first-time homeowner or supporting the good work of local charities, credit unions understand the importance of putting people first. We’re proud to honor these Virginia-based credit unions for their commitment.”
Gov. Glenn Younkin yesterday visited Peoples Advantage Federal Credit Union to tour its Petersburg-based Financial Empowerment Center. Members of the Petersburg City Council also attended, as did League President/CEO Carrie Hunt. Gov. Youngkin learned more about the credit union and its work to aid economically vulnerable individuals in Petersburg. PAFCU has a second center in Richmond. Aug. 14 marked the anniversary of the Gov. Youngkin’s Partnership for Petersburg initiative.
On Monday, the NCUA released Letter to Credit Unions 23-CU-07, titled Cyber Incident Notification Requirements. The letter provides guidance to credit unions on how to comply with the requirement that NCUA be notified within 72 hours when a credit union experiences a reportable cyber incident. The new requirement goes into effect on September 1, so credit unions should be reviewing this guidance and the rule as they update their procedures.
Your League and credit unions will host a series of legislative receptions across the Commonwealth, including events next week in Roanoke (Aug. 22) and Richmond (Aug. 24). Members of Congress and various state lawmakers/political candidates are expected to attend! Registration is also open for an event in Northern Virginia(Aug. 30)! Join us in advocating for your credit union and the Virginia credit union system at any of these events!
Gain an understanding of what makes credit unions tick and our role in the financial services marketplace, including the financials that drive our success, the philosophy on which our industry was built, and the obligation each of us has in advocating for credit unions.
Note: This is the second module of our EMERGE Leadership Certification program, but anyone interested in this program is encouraged to register. In fact, this program is also ideal for newer employees and officials who are looking for an introduction to the credit union industry.
CU Times LUMINARIES Awards Feature Peoples Advantage FCU’s Amanda Habansky, Freedom First CU, PenFed
Credit Union Times has announced the finalists of its 2023 LUMINARIES Awards. Members of the program’s Class of 2023 are being recognized for the incredible and thoughtful ways they are driving the credit union industry forward.
There’s no question that fintech companies can provide tremendous value to keep your credit union competitive. But with so many options and requirements, where do you begin? Join TruStage presenters Jim Komoroski and Eric Gubka to take a strategic lens to your most pressing questions to ensure you are taking a powerful step in setting up your credit union with a foundation of success.
The TRGroup Compliance and Risk Management Conference & the TRGroup Human Resources Conference, are being held jointly Sept. 27 and 28 in Nashville, TN. Just added to the Compliance Conference session lineup: FCRA Compliance (David Reed, Reed & Jolly PLLC); Payment Systems Compliance (Roger Nettie, Regional Electronic Payment Systems Specialist with NCUA); NCUA Part 748 Incident Response (Josh Walton, Regional Information System Office with NCUA); 2023 Compliance Hot Topics (Jamin Carlisle, AUX); and Key Audit Findings in Compliance Audits (Marcus King, CU Audit & Compliance Group). Register now to save $100 with our early bird rate (through Sept.1) and book your hotel stay no later than Sept. 5 to take advantage of our deep discounts!
In Other News …
- TruStage Risk Forum Aug. 16: Transactions & Fraud
- ValleyStar Credit Union Launches System Upgrade and Rebranding Effort
- League’s Quarterly Compliance Roundtable Sept. 6
- Strategic Partnering: A Conversation with Credit Union Leagues Webinar Aug. 24
- Virginia Credit Union League, Dynamic Quest in New Partnership to Provide CUs with IT Assistance
- TRGroup, League Hosting 2nd Annual Women's Conference
- Deadline Is August 28 to File Comment on NCUA’s MDI Proposal
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