No hiccups, no missteps, no lags. CUNA is powering full-steam ahead, proclaimed Bill Hampel, CUNA's interim president/CEO, during Tuesday’s General Session.
"CUNA is strong and in good shape," said Hampel, who took the reins of the organization in June when former President/CEO Bill Cheney stepped down to take over as CEO of SchoolsFirst FCU, Santa Ana, Calif. "Thanks to tireless efforts on your behalf, (we) intend the organization to be as strong as ever when a new CEO begins."
At the outset of Hampel's address, the interim CEO recognized and thanked Cheney for what he achieved as CUNA's leader during the past four years.
Cheney's greatest legacy, Hampel said, was creating a vision for the credit union movement--which he chalked out with the help of leagues and member credit unions throughout the country--that, one day, Americans will choose credit unions as their best financial partner.
And that's a vision Hampel vowed CUNA will maintain.
Meanwhile, with the credit union industry expected to earn its 100 millionth member later this year, Hampel described ways CUNA will capitalize on this opportunity to spark even more awareness of credit unions.
The plan includes the recent launch of a new website, www.americascreditunions.org, the distribution of materials to leagues and credit unions to pass out themselves, and events scheduled throughout the summer that will allow credit unions to highlight this significant achievement.
"100 million is a really big number, and reaching that 100 million memberships is a really big deal," Hampel said. "So we're going to make a really big splash about it."
Hampel also detailed the regulatory issues, such as NCUA’s risk-based capital proposal, that CUNA--and the credit union industry as a whole-- have been grappling with of late.
Once the Financial Crimes Enforcement Network’s new customer due diligence rule becomes effective May 11, 2018, credit unions will be required to identify and verify the beneficial owners of business-type accounts.
Atlanta-based Arby’s restaurants has acknowledged a data breach involving approximately a number of its corporate-owned locations, reports Krebs On Security. The breach is estimated to have occurred between Oct. 25, 2016, and Jan. 19.
Federal Reserve Chair Janet Yellen testified before Congress this week, and her remarks match CUNA economists’ prediction of moderate economic growth in 2017. Perc Pineda, senior economist at CUNA, also predicted rate hikes this year.