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The comment period closes today, Feb. 8, regarding proposed modernizations of the National Credit Union Administration's field-of-membership (FOM) regulations, which set the rules determining who credit unions can have as members.
People’s Trust Federal Credit Union held a "topping off" ceremony for its new corporate headquarters at 413 Bastrop Street in Houston, Texas, in the East Downtown District commonly known as EaDo. The property sits adjacent to Minute Maid Park and the Houston Dynamo soccer stadium. The ceremony marks a significant construction milestone indicating the structural steel work of the building is complete.
Richard Tim Rhoades, the 31-year president of Government Employees FCU in Austin, passed away on Saturday, Jan. 30, at his home in Georgetown, Texas. He was 66.
Recently introduced state legislation regarding firearm and ammunition businesses and their relationships with financial institutions could adversely affect credit unions at the state level. The legislation, the Firearms Industry Nondiscrimination Act (FIND Act), has been introduced in Georgia, Kansas and Missouri and would create a private cause of action against any credit union or financial institution that “discriminates” against a firearm and ammunition business by refusing service or discontinuing service.
With its Best Credit Products of 2016, MagnifyMoney, an independent service offering comparisons of financial products, has provided a virtual overview of just how much consumers can save by choosing credit unions as their primary financial institution. The survey was published in Forbes Thursday.
Juntos Avanzamos has found its way into the Midwest, as credit unions in Iowa can now apply for and receive the Juntos Avanzamos, or “Together we advance,” designation. Created by the Cornerstone Credit Union League and initially offered only in the Cornerstone region, Juntos Avanzamos recognizes those credit unions that have made a sincere commitment to serving the Hispanic community.
The first question asked by any individual or company that has been defrauded is, “How could this happen to me?” This is especially true when it involves defrauding an individual you know and trust. I wish I could say this kind of risk has been declining due to advancements in technology and education on fraud prevention and risk mitigation; however, in the credit union industry, it seems to be consistently on the rise.
You still have time to register for this week's Compliance Review Seminar in Houston. Ensure you're up to date on the most critical compliance rules and regulations, along with specific new Texas changes. Whether the changes are major or minor, knowing the new compliance requirements will be crucial.
As part of its Foundation FOCUS financial literacy campaign, the Cornerstone Credit Union Foundation invites you to attend a free FOCUS training session, Feb. 12 in Dallas, Texas.
Today marks the deadline for submitting the 2016 CSCUL Image Survey. Dick Ensweiler, President and CEO of the Cornerstone Credit Union League, says, “To accomplish our mission, we need to know how well we’re meeting the needs of our owner/members, as well as what we can do better. Therefore, I urge all affiliates to take part in this year’s Image Survey.”
HR 3048, by Congressman Roger Williams (R-Texas, District 25), would reduce the Consumer Financial Protection Bureau rules on credit unions. The bill now has another co-sponsor from the Cornerstone states. Congressman Henry Cuellar (D-Texas, District 28) has added his support to the proposed legislation, bringing the total number of co-sponsors to 19.
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