MADISON, Wis. (2/2/16)--An article about how credit unions of all sizes are again rewarding members with dividend dollars this year for their ongoing support and commitment to the cooperative business model was the most-read News Now article in January.
In his weekly report, Jim Nussle, president/CEO of the Credit Union National Association (CUNA), said: “It’s one of the defining differences of the cooperative business model that credit union members enjoy over bank customers: members’ economic participation, the returning of capital through extraordinary dividend payments.”
The 10 most-read articles for the month included:
WASHINGTON (1/27/16)--CUNA wrote to congressional leadership today to combat factually incorrect attacks from bankers on the National Credit Union Administration (NCUA) field-of-membership (FOM) proposal. In the letter, CUNA President/CEO Jim Nussle not only corrected the erroneous information put forth by the bankers, but expressed dismay at the reasoning behind it.
WASHINGTON (1/19/16)--Credit unions wishing to use the Defense Manpower Data Center (DMDC) for identifying borrowers covered under the Military Lending Act must make their intentions known to the DMDC by Feb. 1.
WASHINGTON (1/27/16)--Don’t count out the doves just yet. The Federal Open Market Committee appeared to finally heed warnings by those on the board who are concerned with the sluggish pace of inflation that has dogged the economy recently.
ALEXANDRIA, Va. (1/11/16, UPDATED 1:45 p.m. ET)--The new Cybersecurity Assessment Tool from the Federal Financial Institutions Examination Council will be incorporated into federal credit union examinations in the second half of 2016, the NCUA announced this morning. The agency published, via a letter to credit unions, its list of supervisory priorities for this year.
ALEXANDRIA, Va. (1/27/16)--Federal credit union examiners are on notice that when a credit union meets certain statutory requirements it no longer must send annual privacy notices.
WASHINGTON (1/26/16)--It was only a matter of timing, reminds CUNA Chief Advocacy Officer Ryan Donovan, not a question about whether banks would launch an all-out attack on the NCUA’s effort to modernize FOM rules.
WASHINGTON (1/6/16)--With share insurance coverage extended to interest on lawyers trust accounts and other similar escrow accounts starting Jan. 27, credit unions need to know their compliance requirements, as well as what accounts are covered. The U.S. Congress passed legislation requiring the coverage in December 2014, and the NCUA finalized its implementing rule last month.
WASHINGTON (1/25/16)--Identity theft tax refund fraud is the No. 1 Internal Revenue Service scam, but it’s a scam that credit unions can help thwart. Since the methods of tax refund distribution are usually run through a financial institution, credit unions are in a good position to identify a scam as it's happening.
MADISON, Wis. (1/11/16)--A website has been established to provide information for financial institution class members of the Target data breach litigation. Credit unions have begun receiving email and paper mail directing them to the site to file claims related to the settlement or to opt out of participation. Each credit union should review the materials to determine which course of action is most appropriate for them.
MADISON, Wis. (1/14/16)--Credit unions large and small are again rewarding members with dividend dollars this year for their ongoing support and commitment to the cooperative business model.