A change to the tax status of large credit unions will impact small credit unionsl, Freedom CU President/CEO Ken Payne wrote Friday, saying it would be harder for his credit union to exist without large credit unions.
Finding its niche is the way to success for small credit unions, wrote Gary Parker, chair of CUNA’s Small Credit Union Committee in Credit Union Times naming several credit unions who have shaped their strategy with a clear focus.
It was a busy week in Washington, D.C. for credit unions, as five credit union leagues representing nine states came in for Fall “Hike the Hill” visits to discuss credit union issues with legislators and regulators.
The House Financial Services Committee advanced two CUNA-backed bills at its Thursday markup, bills covering compliance consistency and data security. CUNA wrote in support of both bills prior to the markup.
The National Credit Union Foundation has opened CUAid to receive disaster relief funds to assist credit union people affected by Hurricane Florence. One hundred percent of donations through CUAid goes to credit union disaster relief.
The CUNA Board of Directors unanimously approved this week a resolution in support of the Awareness Initiative, fully supporting the stated goals of the groundbreaking, research-backed initiative and its mission.
NCUA is closely monitoring Hurricane Florence, it said Wednesday, and has a hurricane information webpage with materials on preparedness and recovery for credit unions and members affected by the storm.
CUNA wrote to House Financial Services Committee leadership Wednesday in support of two bills scheduled to be marked up Thursday. One would require the BCFP to standardize the guidance process, one would update GLBA notification requirements.
CUNA joined other trade organizations Wednesday requesting an extension of the comment deadline for the Bureau of Consumer Financial Protection’s proposed policy to encourage trial disclosure programs to Nov. 23.