CURRENT Newsletter | May 5, 2023
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Sen. Tim Kaine has signed on as a co-sponsor of S.610, the Credit Union Board Modernization Act. This bipartisan measure would change the requirement for federally chartered credit union boards to meet once a month to not less than six times per year for qualifying credit unions. Sen. Kaine supported this same legislation in the last session of Congress.
League Files Comment Letter on Credit Card Late Fees; Notes 'Negative Consequences' of CFPB Proposal
Your League this week filed a comment letter with the Consumer Financial Protection Bureau on a proposal that slashes what is effectively a regulatory cap on most credit card late fees. Your League noted that the Bureau's proposal fails to consider the negative consequences likely to result from the proposal, including interest rate hikes and changes to other terms and fee amounts.
We’re pleased to announce a new private wine-tasting and networking event at IGNITE 2023 (hosted at the Williamsburg Winery), which will benefit the Virginia Credit Union Political Action Committee! Although this event is part of IGNITE 2023, you don’t need to be registered for IGNITE to attend the Lunch! VACUPAC is the non-partisan PAC of Virginia-based credit unions, which supports lawmakers and political candidates who support credit unions! Deadline to register is May 14. Sponsorship opportunities are available, as well … see below.
Sponsorships are critical to the success of the VACUPAC Golf Challenge and our inaugural VACUPAC Wine-Tasting and Networking Lunch! Please consider supporting our advocacy work through your sponsorship of these two May 24 events!
The Virginia Credit Union League is proud to announce the promotion of Karima Freeman to Chief Operating Officer. “This promotion reflects Karima’s commitment to our member credit unions and her work to support every facet of our operations,” said League President/CEO Carrie Hunt. “We appreciate her energy, her passion and her focus.”
Join us for a night of networking, excellent beer and video games! The Emerging Professionals Network is hosting a special event at Precarious Beer Project in Williamsburg, beginning at 7 p.m. Everyone is welcome and you need not be registered for IGNITE 2023.
From developing your talent pool to finding the right digital strategy, Mark leverages decades of experience as an industry leader to offer a unique, insightful blueprint of what every credit union needs to address to ensure its long-term success! Join us at IGNITE 2023 for this and other timely and informative education sessions!
VACUPAC is working for you by promoting and protecting the Commonwealth’s credit unions! See our 1Q2023 newsletter here.
Every credit union is engaged with its community at some level and your League and CUNA want to recognize and honor your good work through the Dora Maxwell Social Responsibility Community Service Award, Louise Herring Philosophy-in-Action Member Service Award, and the Desjardins Financial Education Awards. Deadline for award submissions is June 30, 2023.
In Other News …
- Tidewater Chapter to Honor Education Scholarship Winners May 11
- BayPort Foundation Charity Golf Classic Raises More Than $135,000
- BayPort Credit Union Celebrates Grand Opening of Portsmouth Branch Relocation
- ValleyStar RISE Foundation Hosting 26th Annual Golf Tournament - FORE THE KIDS
- ABNB Federal Credit Union Holds 63rd Annual Meeting
- Register Now for NCUA’s May 18 Webinar on Elder Financial Abuse
- Zest AI: Every Important Journey Needs a Navigator