League News Releases
- League Giving Away 20 Guaranteed Race Entry Codes for Credit Union Cherry Blossom Ten Mile Run!
The Virginia Credit Union League is a proud sponsor of the Credit Union Cherry Blossom Ten Mile Run® benefitting Children’s Miracle Network Hospitals, held on Sept. 12, 2021 in Washington, DC. With our sponsorship, we received 20 Guaranteed Race Entry Codes for the Run or the 5K Run-Walk.
- #ilovemycreditunion: Help Members Share Their Story of Why They Love Your Credit Union
Help us inspire AUTHENTIC, HIGH-ENERGY CONVERSATION on why we love our credit unions. On July 30, 2021, the credit union movement will come together to show the world what it means to be part of a credit union.
- Virginia-Based Credit Unions Continue to Grow; Top 15 Million Memberships as of March 31
Memberships at Virginia-based credit unions increased 10% year-over-year to 15.4 million as of March 31, 2021, while loan growth slowed to tally a 3.38% increase for the same 12-month period.
- Is Your Credit Union Ready for a Channel-Less Future?
The importance of undergoing a “digital transformation” has been recognized for years, even by credit unions that weren’t quite ready to tackle it. But closed doors and shelter-at-home mandates radically accelerated adoption and meant those who hadn’t gone digital yet had no choice but to dive in.
- Responding to a Power of Attorney Agent’s Request To Add or Change a Right of Survivorship or Beneficiary Designation
Credit unions sometimes are asked by an agent under a power of attorney (POA) to have a person added as joint owner to the account of a member (the principal under the POA). Or a POA agent may seek to add or change a payable-on-death or other beneficiary designation on the member’s account. In some cases, the agent may seek to add himself or herself, or a family member, as joint owner or beneficiary on the account. What is significant in all these situations is that the agent is seeking to act in a way that will create (or take away) a right of survivorship in the member’s account upon the member’s death.
- FHLBank Atlanta Seeks Candidates for Seats on Board of Directors
Federal Home Loan Bank of Atlanta (Bank) has begun the election to fill certain directorships on the Bank’s board of directors, including the member directorships in Alabama and the District of Columbia, and one public interest independent directorship.
- Carrie Hunt Selected to Lead Virginia Credit Union League
Carrie Hunt has been selected to lead the Virginia Credit Union League, the statewide trade association for the 113 Virginia-based credit unions, the League Board announced May 20. She will succeed Rick Pillow, who retires June 30.
- Retiring League President Rick Pillow Thanks CUs for Support, Friendship Throughout 40-Year Career
League President Rick Pillow will retire June 30, after a 40-plus-year career in the credit union system. He offers his thanks to credit unions and League staff for their support throughout his time here at the League, including his tenure as president the past two decades, in a farewell video posted here.
- Is Your CU Taking Advantage of the Hot Housing Market?
The housing market was one of the few bright spots in 2020. In fact, sales of existing homes reached the highest level since December of 2006.1 Fueled by record-low interest rates and pent-up demand, pre-qualified first-time homebuyers had a hard time finding a house to purchase due to the shortage in inventory.
- 2 Smart Ways to Keep Members at the Center of Your Innovation Strategy
Credit unions promise to keep members at the center of everything they do. Yet, when it comes to innovation, living up to that promise can get a little tricky. That’s because credit unions are often at the mercy of a patchwork of technology partners, each with varying degrees of human-centricity. For more than two years, our team has been building and iterating a digital lending platform, specifically for the credit union movement, following the principles of human-centered design. Many of the tactical pieces of the strategy are intentionally eye-opening, challenging innovators’ gut instincts to get at an intensely relevant and enjoyable user experience. Here are two of them you might consider trying within your own organization.
- League InfoSight Unveils New Technology for CU PolicyPro Users
League InfoSight announced today it has transitioned more than 3,500 credit unions to a new technology platform with its CU PolicyPro product. In addition to enhanced usability and aesthetics, updates to the CU PolicyPro platform provide added functionality to help credit unions address comprehensive policy management more effectively and efficiently.
- CUNA Mutual Group Navigates, Thrives In Historically Difficult 2020 While Aiding Leagues, CUs
2020 was a trying, challenging and difficult year for our nation. Credit unions stepped up in a big way to meet those challenges head-on, addressing a myriad of health, economic and social issues, while remaining focused on our members and their needs. I’m proud to say League/League Service Corporation partner CUNA Mutual Group proved once again to be a vital support and resource to credit unions in serving members.
- Members Overestimate Cost of Life/AD&D and Underestimate the Need
Many of your credit union's members don't have the critical coverage that could protect the financial wellbeing of themselves or their loved ones, in the event of a tragic injury or death. What could happen to members who are already struggling with the uncertainty and financial stress of the pandemic if they were to lose their household’s primary source of income? Here’s how you can help members understand why protection is critical and why your credit union is their best resource.
- Pandemic Shines a Light on Need to Help Members with Investments
With many members struggling financially and facing uncertain futures, this is a time when future planning on retirement goals might be put off. However, now more than ever is when credit unions should be the trusted, go-to source to help members through this crisis.
- CUNA Mutual Group Receives Industry Honor for Social Equity and Inclusion
The insurance industry’s premier event for Diversity, Equity, and Inclusion (DEI) recognized CUNA Mutual Group with two awards for its commitment to Social Equity and Inclusion. No other insurance company achieved the distinction of two industry awards. The awards are determined by the American Council of Life Insurers, the American Property Casualty Insurance Association, and the Life Insurance Council of New York.
- League Cautions Due Diligence for CUs Claiming Employee Retention Credit
Your League offers its take on whether or not credit unions qualify for the Employee Retention Credit (ERC).
- Savings Boom, Lending Slows and Total Memberships at Virginia-Based Credit Unions Reach 15 Million
Savings growth rose significantly, lending growth slowed, and Virginia’s 113 not-for-profit credit unions added more than 1.3 million new memberships during 2020, according to information from the National Credit Union Administration, credit unions’ federal regulator.
- Financial Education Committee Sharing ‘Message of Hope’ in Thanking Teachers, School Staff
It’s been an especially tough year on our teachers, educators and school staffs. The League’s Financial Education Committee has launched a new initiative called “Message of Hope” to thank those educators for their work in continuing to educate and mentor young people during the pandemic.
- VACUPAC Tallies $165K in Contributions for 2020; Highest Total in More Than a Decade
Thank you to all the credit unions and individuals who participated in Virginia Credit Union Political Action Committee (VACUPAC) fundraising in 2020. The $165,334 contributed in 2020 is the most money VACUPAC has raised during the past decade.
- Round 2 for Critical State-Level FOM Case Begins
The case before the State Corporation Commission involving Virginia Credit Union’s application to add a group of medical professionals to its field-of-membership entered its next phase yesterday with a pre-hearing conference of all the parties, including your League.
- CUNA's April Ales Now Serving as Engagement Consultant to Virginia-Based Credit Unions
We're pleased to announce that April Ales has been appointed to serve as the Credit Union National Association's Engagement Consultant for the Commonwealth.
- Virginia-Based CUs Added 1 Million Memberships in First Nine Months of 2020
Virginia’s 115 member-owned added a million new memberships during the first nine months of 2020, according to information from the National Credit Union Administration, credit unions’ federal regulator.
- CUNA Mutual Group, Inclusiv Launch CDFI Awareness and Certification Campaign
CUNA Mutual Group, in collaboration with Inclusiv, today announces the launch of the Community Development Credit Union CDFI Awareness and Certification Campaign for credit unions. The program aims to educate credit unions not currently CDFI certified about the benefits of certification in serving members and local small businesses, and to create a network for existing CDFI credit unions to learn about and access additional resources.
- League EVP Terry Childress to Retire in March 2021
After more than 40 years with the Virginia Credit Union League and its managed companies, Terry Childress has announced his plan to retire in March 2021.
- CUNA Mutual Group: Valued Partner Provides Essential Services, Information Resources In Helping Credit Unions Weather Pandemic
We approach the end of a challenging year for our nation and for the credit union system. Nine months into the pandemic, we can look back at 2020 and appreciate, through the benefit of hindsight, how remarkably well credit unions handled an operational environment turned upside down. In times of crisis, it’s also important to know you’ve got partners ready, willing and able to lend a hand. CUNA Mutual Group stood with us as we adapted and adjusted to an evolving consumer landscape, where demand for digital offerings exploded.
- Rick Pillow Honored with AACUL Eagle Award
Rick Pillow, president of the Virginia Credit Union League (VACUL), was recognized with the 2020 Eagle Award by the American Association of Credit Union Leagues (AACUL) during AACUL’s virtual 2020 Winter Meeting last week.
- An Inside Look at CDFI Credit Unions
Created by Congress in 1994, the CDFI program was designed to combine federal money with private capital to help qualified financial institutions meet the need of under-served communities that typically lack access to affordable loans and safe financial services.
- Why Investment Services Are Crucial to Your Members
We’ve known for some time that credit union members would prefer accessing financial services at a credit union. While more than half of members report that, only 3% of members utilize their credit unions for investment services. That’s according to research from Kehrer Bielan, sponsored by CUNA Brokerage Services, Inc. (CBSI).
- Del. Jeion Ward Named League's 2020 Legislator of the Year
Del. Jeion Ward (D-92nd) has been honored by Virginia-based credit unions as their 2020 Legislator of the Year. In a presentation ceremony on Nov. 10, Del. Ward was recognized by the Virginia Credit Union League, the state trade association for the Commonwealth’s 116 member-owned credit unions, for her longstanding support and for recently serving as patron for key credit union legislation during the 2020 General Assembly session.
- CUNA Mutual Group Fortifies Commitment to Digital Expansion By Acquiring CuneXus
CUNA Mutual Group today announced it is expanding its digital capabilities by acquiring CuneXus. The award-winning Santa Rosa, California-based start-up firm provides financial institutions an all-in-one digital lending platform that offers consumers a quick, easy and personalized online and mobile lending experience. CUNA Mutual Group became an early-stage investor in CuneXus through its venture capital entity, CMFG Ventures, LLC, in January 2017.
- Virginia Credit Union League Endorses Sen. Mark Warner for Re-Election to Senate Seat
The Virginia Credit Union League, the statewide trade association representing 116 not-for-profit credit unions and their 4 million member-owners residing in the Commonwealth, has endorsed Sen. Mark Warner in his re-election bid for the U.S. Senate.
- Virginia Credit Union Services Announces New Partnership with Credit Union Mortgage Association
Virginia Credit Union Services, Inc., the wholly owned subsidiary of the Virginia Credit Union League, is proud to announce its new partnership with Credit Union Mortgage Association (CUMA). The partnership will enable credit unions to offer mortgage loan products to their members.
- Virginia Credit Union League Signs on to CU Diversity, Equity, Inclusion Collective Pledge
The Virginia Credit Union League Board of Directors has voted unanimously to sign the Credit Union Diversity, Equity and Inclusion (DEI) Collective pledge, committing the League to meaningful and immediate action toward change by standing against racism and working to further social justice and financial democracy.
- Virginia-Based Credit Unions Aiding Members as Pandemic's Hardships Linger
Virginia’s 116 member-owned, not-for-profit credit unions hit major milestones at mid-year 2020, reaching 14.3 million total memberships and $194 billion in combined assets, according to information from credit unions’ federal regulator, the National Credit Union Administration.
- League Announces Winners of State Social Responsibility Awards
The Virginia Credit Union League is pleased to announce the winners of its 2020 Social Responsibility Awards. Each year, the League and the Credit Union National Association sponsor four awards competitions to recognize credit unions for their work in financial education, community service and outreach, and excellence in member service.
- League President Rick Pillow to Retire June 2021
Virginia Credit Union League President Richard D. “Rick” Pillow has announced his plan to retire June 30, 2021, following a 40-plus-year career within the credit union system.
- Credit Unions Care Foundation, Roanoke-Area CUs Donate $5,000 to Red Cross
The Credit Unions Care Foundation of Virginia, representing credit unions in the greater Roanoke area, presented a check to the American Red Cross in the amount of $5,000 to aid in the American Red Cross mission to "prevent and alleviate human suffering."
- Virginia League Expands Partnership With African-American Credit Union Coalition
The Virginia Credit Union League is expanding its partnership with the African-American Credit Union Coalition, formally joining the organization as a member for 2020. The League also offers a $2,000 scholarship that allows a Virginia-based credit union professional or official to attend AACUC’s annual conference.
- Virginia's Credit Unions Donated $270,000 to CMN Hospitals in 2019
With last year’s totals, Virginia's credit unions have raised more than $3.5 million for Children's Miracle Network Hospitals since the beginning of the partnership.
- Virginia-Based Credit Unions Hit Record-High 13.9 Million Memberships
Virginia’s 117 member-owned, not-for-profit credit unions hit major milestones in the first quarter of 2020, reaching 13.9 million memberships and $188 billion in assets. Credit unions across the Commonwealth and nation have added record levels of new members since the financial crisis a decade ago. Total memberships for Virginia-based credit unions stood at 7 million at year-end 2010.
- Through Credit Unions Care Foundation, Virginia's Credit Unions Donate $91,000 to Food Banks Across the Commonwealth
The current health crisis is amplifying food insecurity and hunger issues across the Commonwealth. Virginia's member-owned credit unions are donating $91,000 to help!
- CUNA Mutual Group: The Great Data Demand Facing Credit Union CFOs
CFOs are challenged to support the decision-making abilities of a larger swath of the organization. In fact, growing expectations for responsiveness was cited as one of the biggest challenges facing CFOs in today’s financial marketplace. As the number of business units demanding data-driven guidance grows, so too does the CFO’s need for highly consumable, real-time and accurate financial performance data.
- League Holds Annual Meeting Via Webinar; Announces Board Elections
In a first for the organization, the Virginia Credit Union League today held a virtual Annual Business Session and Membership Meeting. Thirty-three credit unions participated in the webinar, which featured remarks from National Credit Union Administration Chairman Rodney Hood.
- Governor Approves Compensation Bills for Board Members at State-Chartered Credit Unions; Effective July 1, 2020
State-chartered credit unions will have the option to compensate their board members and committee officials beginning July 1, 2020.
- Credit Unions are Open for Business, While Keeping Staff and Members' Health, Safety at Forefront
In the midst of the current national health crisis, credit unions are taking steps to ensure staff and members remain safe, even as service to members continues.
- Pandemic Preparedness for Credit Unions
Resources from regulators, health professionals and government agencies.
- League Congressional Luncheon Draws 100 CU Supporters, Lawmakers
CUNA/Leagues celebrate advocacy wins as lawmakers introduce measures to modernize Federal Credit Union Act.
- Richmond Heritage FCU's Randy Cooper, League Recognized in General Assembly for Scholarship Supporting African-American Credit Union Leaders
Members of the Virginia House of Delegates honored the African-American Credit Union Coalition (AACUC) and the Virginia Credit Union League Feb. 18 for partnering on the Lynette Smith Scholarship that benefits a Virginia-based African-American credit union professional or official.
- Virginia House of Delegates Salutes TruEnergy FCU's Lynette Smith, African-American Credit Union Coalition
Members of the Virginia House of Delegates honored the African-American Credit Union Coalition (AACUC) and TruEnergy Federal Credit Union CEO Lynette Smith during its session Feb. 18.
- Chartway FCU’s Shrey Solanki Selected to Attend CUNA GAC as Crasher (2/11/2020)
- League InfoSight Announces InfoSight Enhancement Expanding State Content Across All 50 States and Upgrading Technology
Virginia-based credit unions can now access state-specific compliance information across all 50 states.
- CUNA Mutual Group: A Partnership Rooted in Our Collective Purpose
CUNA Mutual Group was established nearly 85 years ago as part of the credit union movement, founded the principle of people helping people. A lot has changed since our founding in 1935, but we’ve stayed true to our roots and our fundamental belief that a brighter financial future should be accessible to everyone.
- Credit Unions, Individuals Honored for Service to Members, Communities and CU System
The Virginia Credit Union League hosted its annual Awards Event Nov. 14, to honor the work of credit unions and individuals in service to their members, communities and the system.
- CUNA Mutual Group Remains Invaluable Partner in Advancing CU System
For the past 80 years, Virginia’s credit unions have found a trusted partner, dedicated champion and fierce advocate in CUNA Mutual Group.
- League Announces State-Level Social Responsibility Award Winners
Seven credit unions honored for member service, financial education initiatives and community service.
- League Announces State-Level Social Responsibility Award Winners
Seven credit unions honored for member service, financial education initiatives and community service.
- Virginia-Based Credit Unions Celebrate Membership Milestone
Membership rolls at Virginia-based credit unions top 13 million.
- League Staff Updates
Announcing the promotion of Mary Amyx and the retirement of Dawn Lindley.
- Credit Unions Honor BayPort's George Dudley With Lifetime Achievement Award
George Dudley, the retiring President/CEO at Newport News-based BayPort Credit Union, was honored April 4 with the Virginia credit union system’s highest individual honor, the James P. Kirsch Lifetime Achievement Award.
- Virginia Credit Union's Cherry Dale Honored with 2019 Farley Award
Dale was nominated for the award for strengthening Virginia Credit Union’s financial education programs, which reached a record 27,113 individuals in 2018. During the past 11 years, the financial education workshops, seminars and student-focused money camps sponsored by Virginia Credit Union have reached more than 158,000 individuals.
- New Scholarship to Honor African American Credit Union Leader in Virginia
The Virginia Credit Union League (VACUL) is proud to announce a new annual scholarship in honor of Lynette Smith, past chairman of the African American Credit Union Coalition (AACUC). Ms. Smith is a tireless credit union advocate and has been President/CEO of Washington Gas Light Federal Credit Union in Springfield, Va. for the past 11 years.
- Virginia's Credit Unions Offering Assistance to Federal Workers Affected By Shutdown
Credit Unions step up to aid thousands of federal workers facing financial hardships.
- Argent Credit Union's Rose Baggerly Honored with Kirsch Lifetime Achievement Award by Virginia's Credit Unions
Rose E. Baggerly, President/CEO of Richmond-area Argent Credit Union, has been awarded the Virginia credit union system’s highest individual honor, the James P. Kirsch Lifetime Achievement Award. She was recognized for her contributions to her credit union and the commonwealth’s credit union system at the Virginia Credit Union League’s 84th Annual Meeting in Norfolk, on April 26.
- Pam Vaughan Honored By League, Virginia's Credit Unions With Kirsch Lifetime Achievement Award
Pam Vaughan, a recent retiree of Franklin, Va.-based Bronco Federal Credit Union who worked in the credit union system for 40 years, has been recognized by the Virginia Credit Union League with the James P. Kirsch Lifetime Achievement Award. The award was presented April 27 in Roanoke at the League’s 83rd Annual Meeting.
- Call Federal's Roger Ball Recognized with League's 2017 Farley Award of Excellence
Call Federal Credit Union's Roger Ball has been honored with the 2017 Eugene H. Farley Jr. Award of Excellence.
- ABNB FCU's Mary Ann Melchers Recognized for 50 Years of Credit Union Volunteer Service with Kirsch Lifetime Achievement Award
Mary Ann Melchers, a longtime credit union volunteer and current board member of ABNB Federal Credit Union, was honored April 22 with the Virginia credit union system’s highest individual honor, the James P. Kirsch Lifetime Achievement Award.
- BayPort CU's Stan Leicester Awarded League's 2016 Farley Award of Excellence
BayPort Credit Union Senior Vice President and Chief Financial Officer Stan Leicester has been awarded the 2016 Eugene H. Farley Jr. Award of Excellence, one of the Virginia credit union system’s highest honors.
- Henrico FCU's Bill Dawson Recognized for Decades of Volunteerism, Political Involvement with Kirsch Lifetime Achievement Award
Bill Dawson, a proud charter member and longtime volunteer at Henrico Federal Credit Union, was honored April 17 with the Virginia credit union system’s highest individual honor, the James P. Kirsch Lifetime Achievement Award.
- Chartway’s Ron Burniske Awarded League’s 2015 Farley Award of Excellence
Ron Burniske, CEO of Virginia Beach-based Chartway Federal Credit Union, has been awarded the Eugene H. Farley Jr. Award of Excellence, one of the Virginia credit union system’s highest honors. The Farley Award was presented on April 17, in Roanoke, Virginia, at the Virginia Credit Union League's 81st Annual Meeting.
- Cliff DeMars, 55-Year Volunteer in Credit Union Movement, Honored With League's Kirsch Lifetime Achievement Award
Blue Eagle Credit Union volunteer Cliff DeMars has been awarded the Virginia credit union system’s highest individual honor, the James P. Kirsch Lifetime Achievement Award. He received the award at the Virginia Credit Union League’s 80th Annual Meeting in Williamsburg on April 4.
- UVA Community Credit Union's Alison DeTuncq Recognized With League's 2014 Farley Award of Excellence
UVA Community Credit Union President and CEO Alison DeTuncq has been awarded the Eugene H. Farley Jr. Award of Excellence, one of the Virginia credit union system’s highest honors. The award is presented to a credit union professional or volunteer official in recognition of his or her outstanding contributions to an individual credit union or to the credit union movement.
- ABNB FCU's Bob Morgan Recognized for 45 Years of Service to Credit Union Movement
Robert E. "Bob" Morgan, the retired President/CEO and current Board member of Chesapeake-based ABNB Federal Credit Union has been awarded the Virginia credit union system's highest individual honor, the James P. Kirsch Lifetime Achievement Award. He received the award at the Virginia Credit Union League's 79th Annual Meeting in Roanoke, Virginia on April 19.
- Paul Phillips Awarded 2013 Eugene H. Farley Jr. Award of Excellence
Paul Phillips, of Freedom First Credit Union, has been awarded the Virginia Credit Union League's prestigious Eugene H. Farley Jr. Award of Excellence.
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