NCUA released the March 2023 update of its Simplified CECL Tool. For credit unions that started using the Simplified CECL Tool in the first part of 2023, this release is to determine the credit loss expense from the date of adopting CECL until March 31, 2023.
CUNA wrote to the House Budget Committee outlining several credit union appropriations priorities for fiscal year 2024, noting credit unions are the types of community lenders that are suited to meet the needs of members and communities.
CUNA wrote to members of House and Senate Appropriations subcommittees in strong support of FY2024 funding levels for several international credit union priorities, including the Cooperative Development Program and Credit for Agriculture producers' Technical Assistance Project.
CUNA wrote Congressional appropriations leaders in support of several credit union priorities this week, including the CDFI Fund, NCUA's Community Development Revolving Loan Fund, and increased funding for Treasury's Financial Crimes Enforcement Network.
CUNA Senior Economist Dawit Kebede said the FOMC's increase of the federal funds rate by 25 basis points shows consumer demand seems too strong for inflation to come down consistent with the Federal Reserve's target.
The credit union difference makes a secure financial option for consumers, CUNA Deputy Chief Advocacy Officer wrote to all 535 Congressional offices Tuesday, and it helps improve the financial well-being of members and communities.
equipifi, a fintech company enabling credit unions with buy now, pay later (BNPL) offers for purchases made on debit cards, was awarded with the CUNA Technology Council’s Best of Show Award at the 2023 CUNA Governmental Affairs Conference (GAC).
Treasury Secretary Janet Yellen and Secretary of State Anthony Blinken are scheduled to testify before Congressional appropriators this week, and CUNA is also engaged with small business and cybersecurity hearings.
Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.