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CURRENT Newsletter | August 30, 2022

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CUs, League Highlight Legislative Priorities in Meetings with Reps. McEachin, Scott and Wexton

In a busy day of advocacy, your League last Thursday met virtually and in-person with three members of our Congressional delegation. During the meetings with Reps. Don McEachin, Bobby Scott and Jennifer Wexton, we outlined four key legislative priorities for credit unions.

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CUs, League Host Greater Hampton Roads Lawmakers at Aug. 23 Reception

Credit unions and the League played host to 10 lawmakers and legislative aides at a legislative reception in Newport News on Aug. 23.

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Rep. Morgan Griffith Signs on as Co-Sponsor of CU Board Modernization Bill

Following credit union and League advocacy efforts, Rep. Morgan Griffith (R-9th) has signed on to H.R. 6889 (Credit Union Board Modernization Act) as a co-sponsor. At present, the bill has garnered the support of 94 House members in a show of bipartisan support.

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League’s Growth Conference Sept. 14-16 in Virginia Beach; Hotel Discount Ends Sept. 2

This is a must-attend event for professionals responsible for driving growth and exceptional member experience at their credit unions! Join us in Virginia Beach Sept. 14-16 for the Virginia Credit Union League’s GROWTH Conference (formerly the League’s East Coast Marketing Conference).

Among the many highlights: Keynoter Sheri Fitts will help you successfully shift toward more authentic and personalized member engagement; CUNA Mutual Group covers recent research on serving the underserved; gain insights on streamlining marketing compliance; and learn to build your personal brand to help grow your CU.

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SPECIAL NOTE: We’ve secured an extension on our deeply discounted room rate at our host hotel – Hilton Garden Inn Virginia Beach Oceanfront. Book by Sept. 2 to take advantage of the discount.

League Seminar: Overview of Credit Union System, Philosophy, Understanding Financials/Key Ratios, and Legislative Advocacy

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. Join us in Richmond on Sept. 22 for this informative one-day seminar.

This is the second module of our EMERGE Leadership Certification program, but anyone interested in this program is encouraged to register! Your League is offering the certification program to foster leadership skills in up-and-coming credit union professionals. The certification program consists of five core "modules" of training and educational sessions – the multi-day EMERGE Conference and four single-day events. You can register for the program at any point.

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Registration for League's CEO Forum Now Open

While emerging credit unions face a host of challenges, they're also learning to navigate and thrive in today's demanding, hyper-competitive marketplace.

Join us Oct. 18 for the League's CEO Forum, a special low-cost conference targeted to small- and mid-sized credit unions featuring industry experts and regulators addressing current opportunities and challenges.

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TRGroup Hosting Compliance Conference Sept. 14-15

Learn from the industry's best-known regulatory compliance experts at the TRGroup's first-ever Compliance & Risk Management Conference, slated for Sept. 14-15 in Nashville, TN.

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SAVE THE DATE: League Compliance Roundtable Sept. 21

Count on your League to help you manage today's complex regulatory compliance environment. On Sept. 21, we continue our series of quarterly webinars designed to aid your team in building its compliance resources, boosting its regulatory expertise, and saving time.

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SAVE THE DATE! IGNITE2023 Set for May 24-26 in Williamsburg

Mark your calendars … IGNITE2023 | League Annual Meeting is set for May 24-26 in Williamsburg! The Williamsburg Lodge will serve as our host hotel. Stay tuned for additional details …

NCUA to Distribute $395 Million Under Corporate System Resolution Program

The National Credit Union Administration, in its role as liquidating agent, announced a $313 million distribution to more than 400 membership and paid-in-capital-shareholders of the former Members United, Constitution, and U.S. Central corporate credit unions. NCUA will also distribute $82 million in dividends to more than 1,100 shareholders of Southwest Corporate.

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CUs Need to Pay Attention to Convenience Fees

Credit unions that have instituted “convenience fees” as a means of generating additional revenues could find themselves on the receiving end of a lawsuit or in the crosshairs of the CFPB, one legal and compliance expert is warning.

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