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The Feb. 8 deadline has passed to send in your comment letters for NCUA's proposed field-of-membership (FOM) modernizations, which proposed many beneficial changes to the rules determining who credit unions can have as members. Cornerstone Credit Union League and the Credit Union National Association both strongly supported the proposed improvements.
At the close of the nomination period for League Asset Category One, directors were elected in Regions 1, 2, 3, 4 and 5. An election is underway for Region 6.
South Texas Area Resources Credit Union (STAR CU) celebrated the grand opening of their new branch with a special ribbon cutting on Feb. 3. The new branch is located at 6009 Holly Road in Corpus Christi, Texas.
Credit Union National Association President/CEO Jim Nussle wrote to national tax policy leaders Tuesday to refute bankers' "willful misunderstanding" of why and how credit unions exist and operate. Nussle's letter to Senate Finance and House Ways and Means Committee leadership came as a response to a Feb. 5 letter from the American Bankers Association involving the National Credit Union Administration's field-of-membership proposal.
The Credit Union National Association seeks assurance from the National Credit Union Administration that the agency will work with credit unions as they work to comply with a pending current expected credit loss (CECL) proposal. CUNA wrote to NCUA Chair Debbie Matz Friday regarding the CECL proposal, which is being put forth by the Financial Accounting Standards Board (FASB).
At its Jan. 21 meeting, the National Credit Union Foundation board of directors elected Winona Nava, president/CEO of Guadalupe Credit Union in Santa Fe, NM, as the new chairman of the Foundation. The position was most recently held by Laida Garcia, president/CEO of FloridaCentral Credit Union in Tampa, FL, who remains on the board.
You may or may not have heard the news that the American Institute of CPAs (AICPA) is issuing a new pronouncement on how to record credit losses. This is causing quite a lot of concern in the financial services industry and, in particular, in credit unions.
In keeping with Financial Education Week, the National Federation of Community Development Credit Unions is offering a special webinar to Juntos Avanzamos credit unions. This webinar provides a unique opportunity for collaboration with your local Mexican consulate. The webinar is scheduled for Thursday, Feb. 11, at 11:00 CST.
Consumer lending is not a skill one learns quickly. It takes time and practice, but first it takes the right training. Join your colleagues in Dallas on April 20-21 at the Cornerstone Credit Union League offices and learn how to discuss your consumer loan products in a way that gives your members the opportunity to make informed decisions. The early bird rate has passed, but you can still save money by registering before March 21.
Credit unions are known for promoting financial literacy in their communities—and that reputation is growing with the help of local businesses. Recently, My Community Federal Credit Union provided the NEFE High School Financial Planning curriculum to 2,000 Permian High School students, with the aim of teaching students about personal finance, budgeting principles, saving, and investment options.
The Cornerstone Credit Union League is pleased to provide member credit unions with monthly dividend and loan pricing guidelines, as well as Money Market Trends from Dr. Charles Idol, are available via our website.
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