NCUA staff will discuss strategies for addressing an array of small credit union challenges in a rapidly changing financial services market at a June 22 webinar, “Small Credit Union Challenges.” Registration for the free webinar is now open.

The House Small Business Committee should consider the goals of the CUNA-League-supported Veterans Member Business Loan Act as it looks for viable policy options to support veteran entrepreneurs, CUNA wrote Wednesday.

Sixty-six credit union supporters won primary elections in California, Iowa, Mississippi, New Jersey, New Mexico, and South Dakota Tuesday. Tuesday’s results bring the number of credit union wins to 156, a 99% success rate.

The House Armed Services Committee should reject any bank attempts to share the land lease arrangement between the Department of Defense and credit unions, CUNA wrote as House Armed Services subcommittees begin markups of the FY23 NDAA.

Total loans outstanding in federally insured credit unions increased $136 billion, or 11.7%, over the year ending in the first quarter of 2022, to $1.30 trillion, according to the latest financial performance data released by NCUA. Total assets rose by $169 billion, or 8.7%, to $2.12 trillion, over the same time period.

The House and Senate are both back in session this week and will consider various legislation. CUNA will be engaged with the National Defense Authorization Act markup, as well as hearings on cryptocurrency and veteran businesses.

CUNA, in conjunction with the Illinois Credit Union League, launched a targeted member communications campaign supporting Rodney Davis, R-Ill., for Congress. Davis, a longtime credit union champion, faces a member-on-member primary in the newly created Illinois 15th Congressional District.

Leaders from CUNA, the Illinois Credit Union League, Faith-Based Credit Union Alliance, Inclusiv, and CUNA Mutual Group, met with leaders from the Congressional Black Caucus (CBC) in Chicago

CUNA Senior Economist Dawit Kebede said the Labor Department’s May Employment Situation shows labor demand and supply imbalance is still a concern, particularly in areas where there are more vacant jobs available than unemployed people. 

The Federal Housing Finance Agency (FHFA) issued a final rule requiring Fannie Mae and Freddie Mac to submit annual capital plans to the FHFA for review and approval, a step toward capitalization and reform of Fannie and Freddie.