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InfoSight Highlight: Record Retention
Friday, January 19, 2018 7:00 AM

The purpose of record retention requirements and a record retention program is to provide a comprehensive and cost-effective way to promote effective member service by providing credit unions access to important member information. It also provides credit unions and their members' protection in the event of damage or disaster and ensures compliance with claims, litigation, and/or IRS demands.

Pending Regulatory Comment Calls
Friday, January 19, 2018 6:55 AM

The following table shows pending regulatory proposals quickly coming to deadline. Cornerstone and Credit Union National Association will be submitting comments. Credit unions are encouraged to use PowerComment to file comment letters with regulators. 

Cornerstone Announces League Board of Directors Election Results for Asset Category Two
Friday, January 19, 2018 6:50 AM

The Cornerstone Credit Union League director nominations for Asset Category Two have closed. The following candidates were uncontested in their regions and are therefore elected...

Do Good, Feel Good, at Cornerstone's Annual Meeting
Friday, January 19, 2018 6:45 AM

Cornerstone Credit Union League has announced its Corporate Social Responsibility Project for the 2018 Annual Meeting in Little Rock, Ark., which takes place April 18-20. Consider that while you "Putt for a Purpose" in a golf tournament on April 17 that benefits the Children's Miracle Network, your conference guest or spouse can be doing good works too. 

Financial Services Committee Passes CFPB Regulatory Relief for CUs
Friday, January 19, 2018 6:40 AM

The U.S. House Financial Services Committee voted Wednesday along party lines to pass H.R. 1264, the Community Financial Institutions Exemption Act, by a vote of 30-25.

House Passes HMDA Bill to Raise Reporting Threshold
Friday, January 19, 2018 6:35 AM

Yesterday, the House passed the Home Mortgage Disclosure Adjustment Act (H.R. 2954), legislation introduced by Rep. Tom Emmer (R-Minn.). The bill would raise the reporting threshold for certain HMDA requirements.

Foundation Announces New Director of Philanthropy
Friday, January 19, 2018 6:30 AM

The National Credit Union Foundation has announced the addition of Rebecca Dopart as the new director of philanthropy, effective Jan. 16, 2018.

A+ Federal, Kemba, and Michigan Educational CUs Sign with CUNA Mutual AdvantEdge Analytics
Friday, January 19, 2018 6:25 AM

CUNA Mutual AdvantEdge Analytics has announced that three credit unions will partner with AdvantEdge Analytics to build their advanced analytic platforms and services to gain better member insights. The credit unions are A+ Federal Credit Union, with $1.3 billion in assets, headquartered in Austin, Texas; Kemba Credit Union with $860 million in assets, headquartered in Cincinnati, Ohio; and Michigan Educational Credit Union, with $800 million in assets, headquartered in Plymouth, Mich.

Compliance as a Driver of Revenue?
Friday, January 19, 2018 6:20 AM

Revenue and compliance are inextricably linked. The common perception is that the practice of compliance inhibits revenue generation, while the cost of compliance is a revenue drain. This lethal combination is a significant factor in the serious challenges that so many small and mid-sized financial institutions find themselves in these days. Lacking the means or capability to enter new markets and facing ever-increasing compliance costs, too many financial institutions face the prospect of either going out of business or merging with larger institutions.

Is Your CU Compliant with Windows 10 Mandatory ATM Upgrades?
Friday, January 19, 2018 6:10 AM

All ATMs have to meet the Windows 10 mandatory upgrade by Jan. 14, 2020. Sounds far off, right? But when you add in manufacturer lead-time, implementation, and testing time, you may already be too late. Not to mention upgrade costs will go up exponentially if you wait till the last minute.