The National Credit Union Foundation catalyzed change through credit unions and delivered meaningful impact last year, according to its 2021 Impact Report. Highlights include $440,000 in disaster relief distributed through CUAid and $100,000 in grants to increase member service.
The European Council presidency and European Parliament reached a provisional agreement on the Digital Operational Resilience Act that allows for the proportional treatment of credit unions under new regulatory requirements on the security of financial institution network and information system.
The Cooperative Credit Union Association announced a new partnership with Smart Hive, providing a end-to-end protection against the most sophisticated forms of cyber-attacks. Smart Hive leverages the cooperative power of credit unions to serve as a threat detection tool.
Envisant, a subsidiary of the Illinois Credit Union League (ICUL), invested in credit union Service Organization (CUSO), Pure IT. This capital investment will allow an expansion of Pure IT’s innovative IT Strategy work and will assist credit unions to compete for, and serve, more members.
The credit union movement’s brightest human resources and organizational development stars were recognized during an awards luncheon ceremony at the CUNA HR & Organizational Development Council Conference, April 24-27, 2022, at the Hilton Lake Buena Vista in Orlando, Florida.
Staff from the NCUA’s Office of Examination and Insurance will focus on the overall capital adequacy framework for all federally insured credit unions, including the final RBC and CCULR rules, during a Feb. 23 hosted by NCUA.
The World Council of Credit Unions continued to successfully advocate before international standard setting bodies on behalf of the global financial cooperative movement in 2021, and details top international advocacy success stories of 2021.
Increased regulatory requirements loom for credit unions as they reach the $10-billion mark in assets. A Jan. 14 webinar for CUNA members, Nearing $10 Billion in Assets: Key CFPB & NCUA CMS Expectations, will help prepare credit unions for what to expect.
A $45,000 grant issued through Worldwide Foundation for Credit Unions’ Project Storm Break program helped six Haitian credit unions get back to serving their members despite an August earthquake that caused major damage to their permanent structures.