NCUA sent a letter to credit unions (20-CU-22) this week updating the agency’s 2020 supervisory priorities to reflect economic conditions emerging in the wake of the COVID-19 pandemic, as well as other statutory and regulatory changes.

CUNA’s May Monthly Credit Union Estimates show the effects of the pandemic are significant – but are in line with CUNA economists’ expectations. Most importantly, credit unions remain well-positioned to continue to serve members in the downturn.

Open Your Eyes to a Credit Union® has been named winner of a Hermes Creative Award, an international competition that recognizes outstanding work with while promoting the philanthropic nature of marketing and communications professionals. Open Your Eyes earned a Platinum award in the Electronic/Social/Interactive Media category.

The FCC Thursday took action to address many CUNA, League and credit union concerns with automatic call blocking, strengthening the ability of credit unions to quickly correct erroneous call blocking and ensuring telephone companies promptly correct mistakes at no charge. 

CUNA appreciates the pandemic response from the Federal Housing Finance Agency and encourages it to ensure there is consistency between their policies and directives of Congress. CUNA also made several recommendations to help credit unions serve members and businesses during recovery.

The House Appropriations Committee Wednesday passed the fiscal year 2021 Financial Services and General Government Appropriations Act. The bill funds the Treasury’s CDFI Fund at $273.5 million, and NCUA's CDRLF at $2 million and protects financial institutions serving legal cannabis businesses.

Credit union-supported candidates saw several victories in primary elections Maine and runoff elections in Alabama in Texas Tuesday. Candidates were backed by state credit union Leagues and CUNA’s political action committee, the Credit Union Legislative Action Council.

Credit unions have supported more than a million pandemic-affected members through the Paycheck Protection Program (PPP), CUNA Chief Advocacy Officer Ryan Donovan wrote Tuesday to all 535 Congressional offices.

Credit unions have supported more than a million pandemic-affected members through the Paycheck Protection Program, as more than 900 credit unions have made more than 196,000 loans, averaging $49,487 per loan. Those loans have supported 1.18 million jobs.

Kyle Hauptman, nominated by the president to serve on the NCUA board, will appear before the Senate Banking Committee July 21. The hearing is scheduled to begin at 10 a.m. (ET), and will be livestreamed on the committee’s website.