CURRENT Newsletter | September 8, 2023
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We're super excited to be returning to the Virginia Beach Oceanfront for the League's GROWTH Conference! There's still time to register. No matter your role at your credit union, this year's programming offers tools, info and insights that will get your team thinking about "growth" as the enterprise-wide endeavor that it is ... Hope to see you in Virginia Beach!
Your League’s Governmental Affairs team, with an assist from Langley Federal Credit Union, was hard at work yesterday keeping credit unions top-of-mind for our state lawmakers and executives.
We want to make you aware of an exciting opportunity that could provide significant grant funds for credit unions interested in green lending. Ecority, an independent nonprofit, is asking credit unions and Community Development Financial Institutions to submit an electronic letter of interest which it will use to help secure a share of some $20 billion from the Greenhouse Gas Reduction Fund (GGRF).
Those federal GGRF monies are designed to help finance home and business energy improvements, electric vehicles, net-zero building construction, solar panels and more. Note: Completing the letter of interest carries no obligation to participate in the program. Also of note, the program grants for which credit unions would be eligible will aid low- and moderate-income communities. As of this date, Ecority is composed of credit unions and CDFIs in 43 states, including Virginia’s own Langley Federal Credit Union.
Gain an understanding of what makes credit unions tick and our role in the financial services marketplace, including the financials that drive our success, the philosophy on which our industry was built, and the obligation each of us has in advocating for credit unions. Note: While this session has plenty to offer anyone wanting to know more about our industry, it would be incredibly beneficial for newer employees and officials. There’s still time to register!
The archived recording of your League’s 3Q2023 Compliance Roundtable is now available online. Join the League’s JT Blau (Chief Advocacy Officer) and attorney Jay Spruill (Woods Rogers Vandeventer Black PLC) for a deep dive into fraud scams targeting member accounts and protective measures a credit union can take; NCUA’s new member expulsion rule; NCUA’s new cyber incident reporting requirement; FFIEC’s update of their examination manual; Recent IRS info on credit unions’ eligibility to claim the Employee Retention Credit; and the importance of reviewing your BSA policies, procedures and oversight.
Credit unions: With so many of you serving government agencies, contractors and others who might be affected by a federal government shutdown, how are you planning to aid members should a shutdown occur?
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