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CURRENT Newsletter | January 10, 2023

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League-Driven Credit Union Bill Introduced in General Assembly

We have a bill number for our digital asset legislation! HB1727 would permit any credit union in the Commonwealth to engage in virtual currency custody services to the same extent as any bank. Banks won this authority last session. The bill would allow credit unions to secure private keys for their members’ digital assets in a manner similar to a safe deposit box, with the member retaining control of the asset and the credit union simply securing it.

“Member interest in digital assets and cryptocurrency has only grown in recent years and despite current headlines, experts expect that interest to continue to grow,” notes League Chief Advocacy Officer JT Blau. “This is a critical first step in aiding credit unions interested in offering custodial services for such assets to their members and brings parity to our state-chartered credit unions.”

Your League is ready for tomorrow’s start of the General Assembly session. We’ve been busy combing through hundreds of pre-filed bills looking for those that could impact credit unions and their operations. We’ve also hosted or attended more than two dozen meetings and fundraising events in the run-up to the start of the session. We also remain firmly focused on our other state-level legislative priorities, including municipal deposits. That issue, field-of-membership enhancements, and bank acquisition authority remain part of our state-level advocacy efforts.

Note: 150 credit union advocates have registered for Credit Union Day at the General Assembly! We look forward to seeing you in Richmond on Jan. 19! Stay tuned for additional details!

Bankruptcy, Collection Webinars Set for Jan. 18-19; Register Now

Join credit union attorney and collections consultant, David Reed, for an exciting virtual training event as he highlights the latest techniques, tips and trends to maximize your collections function in the “new world order.” Note: Flat-free registration covers all attendees from your credit union!

Learn more and register

(Registration for this event is being coordinated by the Kentucky Credit Union League.)

EMERGE Leadership Certification Module Set for Feb. 16: Cultivating Employee Engagement and Inclusion

This is the fourth module of our EMERGE Leadership Certification program, but anyone interested in this program is encouraged to register! We'll examine the importance of fostering an inclusive mindset in the workplace and how that helps us grow as individuals and support others. An inclusive, engaged environment improves our ability to recruit and retain top talent; aids us in navigating conflict; and fosters innovative, high-performing and highly productive organizations.


NOTE: Save the date for Feb. 15! Our Emerging Professionals Network (Richmond-area) is hosting a leadership panel from 6 p.m. – 8:30 p.m.

IGNITE 2023 | League Annual Meeting Registration Now Open

Registration is now open for IGNITE 2023 | the League Annual Meeting! Our host hotel – Williamsburg Lodge – is also accepting reservations.

Related: League Announces 2023 Events, Education Calendar

Virginia's Credit Union Advocates to Gather in Washington at 2023 CUNA GAC

CUNA Governmental Affairs Conference (GAC), the credit union industry’s premier advocacy event, returns to Washington, D.C., Feb. 26 to March 2, 2023.

Learn more

Other News of Note:

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