The credit union mission and model shined despite tough circumstances in 2020, says CUNA Chief Advocacy Officer Ryan Donovan. Last year’s successes were due to advocacy at every level of the credit union movement but advocacy is a marathon, not a sprint.
CUNA and the African-American Credit Union Coalition (AACUC) announced a strategic alliance to further diversity, equity and inclusion (DEI) within the credit union movement. The collaboration agreement focuses on a scholarship program and an online community for black credit union professionals.
NCUA issued three letters to credit unions in the early days of 2021, one summarizing the latest COVID relief/government funding bill, and two outlining field of membership conversions and one with the 2021 Operating Fee Schedule.
The SBA announced the Paycheck Protection Program will re-open the week of Jan. 11 for new borrowers and certain existing PPP borrowers. Up to $284 billion is authorized to be used toward job retention and certain other expenses through March 31.
SBA and Treasury Department will present an overview of the new Paycheck Protection Program features associated with recently passed legislation. This webinar will take place on Monday, Jan. 11, at 2 p.m. (ET) and registration is now open.
As the scope of the SolarWinds cyberattack is still being explored, CUNA’s compliance staff examine what credit unions can do next. The attack affected an estimated 18,000 SolarWinds customers, which include financial institutions and vendors serving financial institutions.
The CFPB Taskforce on Federal Consumer Financial Law recommends expanding credit unions’ ability to serve underserved areas in its report. CFPB Deputy Director Tom Pahl discussed the report Tuesday morning with CUNA President/CEO Jim Nussle.
CUNA continued to advance its 2021 advocacy agenda with a communication to all 535 Congressional offices. CUNA Chief Advocacy Officer Ryan Donovan reminded Congress that America’s credit unions are committed to advancing the communities they serve and improving members’ financial well-being.