As CUNA Board Chairman, Dennis Pierce intends to conduct “a full and comprehensive look at the organizational structure and governance of CUNA” during his one-year term, he announced at Tuesday morning’s General Session after being sworn in.
“Credit unions are very different today, and I think we’re going to be very different in the future. Our trade association needs to be responsive to that,” said Pierce, CEO at CommunityAmerica Credit Union in Kansas City, Mo.
“We’ve had great success, and we have a wonderful system. But we also need to make sure that system remains viable going forward.”
Pierce pledged to provide credit unions ample opportunity to voice their opinions about CUNA’s course.
“Please take advantage of that and participate, because we’ll only be as good as you, the members, push us to be,” he said.
Pierce, who replaces Pat Wesenberg, president/CEO of Central City Credit Union in Marshfield, Wis., also serves on the board of NACUSO and as Vice Chairman of CUNA Strategic Services.
“I’ll work hard and I’ll do my best,” Pierce said. “Together, we’ll make CUNA even better than it is today.”
FinCEN issued a list last week of frequently asked questions regarding Customer Due Diligence requirements for financial institutions. The document contains 24 sets of questions and answers, which are also available on. CUNA’s CompBlog .
Oral arguments in the lawsuit against the Federal Communications Commission regarding its Telephone Consumer Protection Act will begin Oct. 19. CUNA filed an amicus brief last year asking for the ruling to be vacated.
The NCUA board voted Thursday to adopt the agency’s strategic plan for 2017-21 that includes updating the agency’s goals for examinations. While this change does not immediately credit unions' exam cycle, it sets the stage for later improvements.