Amendments to the NCUA’s field-of-membership rules go into effect Oct. 14, allowing a credit union applying for NCUA approval of a community charter, expansion, or conversion to designate a Combined Statistical Area or an individual, contiguous portion of a CSA as a well-defined local community.
The Senate is expected to vote on funding for the federal government past Sept. 30 this week, and CUNA will be engaged with several hearings as well, including ones on fintech regulation and one with the SBA inspector general.
The National Credit Union Foundation is currently seeking nominations for four board seats with a deadline of Oct. 28 to apply. The Foundation serves as the national charitable arm of the U.S. credit union movement and aims to be a catalyst to improve financial lives through credit unions.
More than 500 credit unions are now using Credit Union Compliance Management System™ after just six months of national availability. The solution has been adopted by credit unions of every asset size, from below $50 million to over $10 billion.
Credit unions are concerned PPP loan forgiveness process is overly complicated, CUNA wrote to a House Small Business subcommittee Friday. The letter follows two others on the importance of PPP forgiveness sent by CUNA to Congress this week.
CUNA’s latest Economic Update video features Senior Economist Jordan van Rijn examining the latest on the economy, what to expect from the recovery, how long the recovery might take, updated credit union operations forecast and more.
Changes to regulations and the creation of new lending programs have and will continue to help individuals affected by the pandemic, including PPP forgiveness legislation, temporarily lifting the MBL cap and expanding CLF and TDR changes until the end of 2021.
The Small Business Administration should take several additional steps if Paycheck Protection Program funding becomes available again, including improving national and regional operations in order to provide more timely feedback to lenders and borrowers.
CUNA and Credit Union Legislative Action Council, its federal PAC, launched its first round of general election advertising this week in support of Sens Susan Collins (R-Maine), Steve Daines (R-Mont.), Gary Peters (D-Mich.) and Tina Smith (D-Minn.).
Credit Union Magazine’s special 2020 Credit Union Rock Stars edition celebrates creative, innovative, and passionate professionals and volunteers working to advance the missions of their credit unions.