CURRENT Newsletter | January 13, 2023
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PLEASE NOTE: The League office will be closed Jan. 16.
CU's Digital Asset Custody Services Bill Passes House Committee in Unanimous Vote
Credit unions won a victory Thursday, with our virtual currency custodian bill (HB1727) reporting out of the House Commerce and Energy Committee on a unanimous 22-to-0 vote. It now moves to the House floor for consideration. Passage in the House will send the measure to the state Senate for consideration.
“This was a key first step in winning parity for our credit unions,” noted League President/CEO Carrie Hunt. “We appreciate the support of the committee and their desire to ensure credit unions remain competitive in today’s marketplace with our for-profit peers.”
The League-backed legislation 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.
Related: League Congratulates Newly Elected General Assembly Members
Related: League Advocacy Team Visits Lawmakers as General Assembly Convenes
Join Us Jan. 17 for CU Day Pre-Event Webinar
For those attending our Jan. 19 Credit Union Day at the General Assembly, we’re hosting a pre-event webinar on Jan. 17 at 3 p.m. Watch your email for webinar details, or contact your League’s CeJae Vtipilson for the webinar link. We will be discussing Credit Union Day logistics, the meeting schedule, our Legislative talking points (HB1727 - Credit Unions: Virtual Custody Services), Handout for Legislators, and what your group should plan to discuss.
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!
(Registration for this event is being coordinated by the Kentucky Credit Union League.)
Get Recognized for Your Good Works in Community Involvement, Financial Education and Member Service
Your League and CUNA want to recognize and honor your good work in serving your members, bettering your community, and arming individuals with the knowledge they need to successfully manage their finances. Entries for the Dora Maxwell Social Responsibility Community Service Award, Louise Herring Philosophy-in-Action Member Service Award, and the Desjardins Financial Education Awards are due June 30.
CUNA Mutual Group Webinar Set for Jan. 18 on Emerging Risks
Keeping ahead of the ever-changing risks that are impacting credit unions requires keen awareness, effective preparation, and loss control scrutiny. While each credit union has its own unique risk footprint, this Jan. 18 session will introduce risks that should be on your radar.
3 Virginians Among the 2023 GAC Crashers
The 2023 GAC Crashers have been tapped from the largest applicant pool of credit union rising leaders in the program’s 14-year history. Three Virginians are among those selected to Crash the GAC: Courtney Gray (Spectra Credit Union); Stephanie Potter (ValleyStar Credit Union); and Tyjai Richardson (Chartway Credit Union).
Related: Virginia's Credit Union Advocates to Gather in Washington at 2023 CUNA GAC
NCUA Launches Financial Literacy, Outreach Newsletter
NCUA invites credit unions, educators, and others to sign up for its new email newsletter focusing on consumer finance and education, including insights and data on important consumer topics, NCUA initiatives, and resources to develop and enhance financial education programs.
- CUNA economics: Inflation continues to cool in December
- Youngkin pushes $1 billion more in tax relief in address to lawmakers
- As election-year General Assembly session begins, Youngkin says Virginia is on ‘right path’
- Gov. Youngkin speaks to a divided General Assembly
- Republican concedes in Virginia state Senate election
- Credit Unions Maintained Fast Loan Growth in November
- Servicemember reports about identity theft are increasing
- ‘Inaccurate & Misleading Comments’ on Greenhouse Gas Fund is Just Gaslighting, Says NAFCU
- CFPB Moves Forward With Proposed Rule Establishing Public Registry of Terms and Conditions in Form Contracts