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Home CURRENT Newsletter | September 15, 2023

CURRENT Newsletter | September 15, 2023

Authored By: League Staff on 9/15/2023

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Urgent Action Alert: Email Sens. Warner & Kaine Now to Fight CU-Opposed Interchange Bill

Credit unions: There are new developments on interchange legislation that need your urgent attention. Your League contacted the offices of Sen. Mark Warner and Tim Kaine yesterday and urged them to oppose any efforts to advance the Credit Card Competition Act (CCCA). Now, we need you to mobilize your credit union and ensure staff, officials and members reach out to Virginia's senators. And many thanks to our advocates for generating 566 emails to our senators over the past 24 hours! Let's keep up the good work! 

Virginia CU Advocates Reach Congressional Delegation Through ‘Hike The Hill,’ Summer Legislative Events

In Hike The Hill events this week in Washington and through a series of legislative events across the Commonwealth this summer, the Virginia Credit Union League and member credit unions met with every member of Virginia’s Congressional delegation in preparation for a busy end-of-year agenda on Capitol Hill.

Tuesday was another busy day in Washington, with credit union advocates meeting with Sen. Mark Warner (D-VA) and the offices of Sen. Tim Kaine (D-VA), Rep. Bobby Scott (D-3rd), Rep. Jennifer McClellan (D-4th) and Rep. Gerry Connolly (D-11th). On Monday, we connected with the offices of Reps. Rob Wittman (R-1st), Jennifer Kiggans (R-2nd) and Don Beyer (D-8th).

Earlier this summer, we reached Reps. Bob Good (R-5th), Ben Cline (R-6th), Morgan Griffith (R-9th) and Jennifer Wexton (D-10th) through our Legislative Receptions across the state, and Rep. Abigail Spanberger (D-7th) at an event in early September.

GROWTH Conference: Bold, Innovative Ideas to Fuel Sustainable Growth at Your CU

There’s still time to register! We know the challenges to growing our credit unions are many – economic uncertainty, competition, technology, just for starters – but where do we turn for those next bold, innovative ideas that will help us overcome our challenges and achieve the kind of growth that fuels lasting success? Your League’s GROWTH Conference starts with the premise that sustainable growth is a team endeavor. No matter your role at your credit union, you’ll gain actionable ideas for spurring growth at your credit union!

Regulatory Compliance Weekly Roundup: Sept. 15, 2023

It's been a busy week here at the League! We hiked the hill in Washington D.C. with many of our credit unions on Monday and Tuesday, which yielded a number of productive meetings with the banking aides of our legislators, as well as with Sen. Mark Warner. That's not to say there wasn't also plenty of interest from the world of regulatory compliance, so let's look at important news and notes from the NCUA and the IRS ...

Save the Date: Financial Well-Being for All Boot Camp Oct. 25

Your members need you. But what more can you do to meet them where they are in their life and financial journeys? Our Boot Camp uncovers the correlation between member financial health and member satisfaction, product use and financial confidence; will aid you in developing a financial health strategy for your credit union; and will offer best practices in creating programs for “financially vulnerable” and “financially coping” households.

NCUA Board to Vote on Final Loan Participation Rule Sept. 21

The NCUA board will vote on a final loan participation rule at its Sept. 21 board meeting. The meeting is scheduled to start 10 a.m., and will be streamed live on NCUA.gov.

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