CURRENT Newsletter | November 7, 2023
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Election Day: League, CUs Ready for Eventful Finish to Election Season, Prep for General Assembly Session
Today is Election Day and all 140 seats in the Virginia General Assembly -- 40 in the state Senate and 100 in the House of Delegates -- are up for election. Redistricting, retirements, and contentious primary elections have created 44 open seats (33 in the House and 11 in the Senate) on today’s ballots.
While every seat in the General Assembly is up for election, who controls each chamber will likely be decided by a dozen districts in Hampton Roads, suburban Richmond and northern Virginia. The League has delved into these 12 key races and provided a short summary of each.
Regardless of this evening’s results, there will be dozens of new legislators to meet and educate in the weeks ahead on the Credit Union Difference. Your League will meet with each of our new delegates and senators to foster relationships and garner support for our 2024 legislative agenda.
Advocacy News & Notes
- Next week features a hearing on the NCUA’s budget proposal, with League President/CEO Carrie Hunt scheduled to testify at the Nov. 16 meeting.
- Your League remains intensely focused on discussions in Washington regarding the budget for the coming year. We’ve engaged with every member of the Virginia Congressional delegation during the past month, urging lawmakers to avoid a costly shutdown of the federal government. The government is funded through Nov. 17.
- We’re closely monitoring both chambers as lawmakers work on the various appropriations measures, paying particular attention to any sign of movement on the credit union-opposed interchange measure.
Join us on Nov. 16 for a seminar focused on leadership and communication, specifically “authentic leadership” and how best to use our personal strengths and communication skills in the workplace.
A recent article posted in the New York Times details the practice of "exiting" or "de-risking," where "bank customers get a letter in the mail saying their institution is closing all of their checking and savings accounts." The author writes that banks are evicting what appear to be an increasing number of individuals, families and small business owners, many of whom "don't have the faintest idea why their banks turned against them." Is BSA to blame …?
With Commitment to Service & Innovation, TruStage Remains a Champion for Commonwealth's Credit Unions
Your League is proud to partner with TruStage, and while 2024 will undoubtedly hold its share of opportunities and challenges for credit unions, rest assured that TruStage and your League are always in your corner!
Registration is open for two upcoming League virtual events! Both are free.
- League Compliance Roundtable (Dec. 6) - Count on your League to help you manage today's complex regulatory compliance environment.
- Member Call-In (Dec. 12) – League President/CEO Carrie Hunt hosts our virtual membership meeting, with updates on the coming General Assembly session, federal advocacy issues, and more!
In Other News …
- Tidewater Chapter Meets Nov. 16
- ValleyStar Credit Union Welcomes Woody Windley as Chief Financial Officer
- PSCU and Co-op Solutions Announce Agreement to Combine
- IGNITE | League Annual Meeting 2024: Registration Opens!
- IGNITE 2024 | League Annual Meeting: Book Your Stay at Our Host Hotel
- League Partnership Will Offer C-Suite Level Leadership Training to Member Credit Unions
- Credit Unions: Apply for Grants to Support Your Financial Education Initiatives
- Crash the GAC 2024! Applications Must Be Submitted by Nov. 20
- CUNA Small CU Committee Collecting Success Stories; Small CUs Can Win Scholarship to GAC
- Registration Open for 2024 Governmental Affairs Conference
- Comment Period Open on Fair Hiring in Banking Proposed Rule
- NCUA and CDFI Hosting Nov. 8 Webinar on Small-Dollar Lending Program
- Nomination of Tanya Otsuka for the NCUA Board Has Advanced
- CFPB Proposes New Federal Oversight of Big Tech Companies and Other Providers of Digital Wallets and Payment Apps
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