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Credit union loans outstanding increased 0.7% in July

Credit union loans outstanding increased 0.7% in July, compared to a 0.7% increase in June of 2023 and a 1.6% increase in July of 2022, according to CUNA's latest Monthly Credit Union Estimates. Home equity loans led loan growth during the month, rising 2.9%.

Policy & Issues

Rep. Wexton announces she will not seek re-election

Rep. Jennifer Wexton, D-Va., announced Monday she will not seek re-election in 2024. Wexton—who has served in Congress since 2019—opposed expanded Internal Revenue Service reporting requirements in October 2021, and co-sponsored the SAFE Banking Act, which would provide a safe harbor for financial institutions serving legal cannabis businesses.

Policy & Issues

Government funding, CBDC bill markup in Congress this week

The Senate will resume consideration of a “minibus” legislative package to fund the federal government past Sept. 30. Sponsors of the big box interchange bill have filed it as an amendment to the funding legislation. The House Financial Services Committee will also conduct a markup of legislation relating to the issuance of a central bank digital currency.

Policy & Issues

Credit unions continue interchange bill amendment opposition

CUNA continues its efforts to prevent the big box interchange bill from being attached to other legislation with a letter to Congressional leaders Friday. Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kan., are attempting to attach the bill to the Senate “minibus” government funding bill (H.R. 4366).

Policy & Issues

Leagues, credit unions advocate during Capitol Hill visits

Seven state Leagues and Associations representing credit unions from 10 states were in Washington, D.C., this week to advocate for credit union priorities. Visitors met with legislators, regulators, and CUNA staff during their visits.

Policy & Issues

NCUA releases Q2 2023 state-level credit union data report

The median growth rate in loans outstanding and membership at federally insured credit unions was positive over the year ending in the second quarter of 2023, while the growth rate in assets and shares and deposits was negative at the median, according to the latest Quarterly U.S. Map Review released by NCUA.

Policy & Issues

NCUA board to vote on final loan participation rule Sept. 21

The NCUA board will vote on a final loan participation rule and hear a quarterly update on the National Credit Union Share Insurance Fund at its Sept. 21 board meeting.

A path to digital—a lesson in leadership

Policy & Issues

Potential CBDC benefits do not outweigh potential risks

A central bank digital currency (CBDC) would be a “fundamental transformation” of banking and payments and poses serious risks, CUNA wrote to a House Financial Services subcommittee Thursday, listing cornerstone principles that should be part of any CBDC consideration.

Policy & Issues

Interchange bill amendment filed for government funding legislation

CUNA and Leagues issued an action alert Thursday calling on credit unions to contact their senators to oppose attaching the big box interchange bill to a draft legislative package to fund the federal government past Sept. 30. Sen. Roger Marshall, R-Kan., has filed the text of the bill as an amendment.

Policy & Issues

CUNA, WOCCU urge Basel III proportionality implementation

CUNA and World Council of Credit Unions (WOCCU) sent a letter Thursday addressing the implementation of a Basel III proportionality framework to establish a simpler and more reasonable approach for credit unions to leaders of the House Financial Services Committee.

Fall 2023

Credit Union Magazine’s Fall 2023 issue examines how artificial intelligence is shaping marketing, strategies to improve cyber hygiene and overall cybersecurity, the need to employ risk management to address inflation and its impacts, new approaches to board recruiting, and NCUA’s top supervisory priorities.

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Policy & Issues
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Credit union loans outstanding increased 0.7% in July

Rep. Wexton announces she will not seek re-election

Government funding, CBDC bill markup in Congress this week

Credit unions continue interchange bill amendment opposition

Leagues, credit unions advocate during Capitol Hill visits

NCUA releases Q2 2023 state-level credit union data report

NCUA board to vote on final loan participation rule Sept. 21

Potential CBDC benefits do not outweigh potential risks

Interchange bill amendment filed for government funding legislation

CUNA, WOCCU urge Basel III proportionality implementation

Fall 2023

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