In This Week’s Leaguer

Posted: May 19, 2021 | Author: Cornerstone League

advocacy business partner donor advised fund League Board Sunset bill

Yesterday was a great day for Texas credit unions. The House of Representatives passed the sunset bill that continues the Credit Union Department for another 12 years. This is the final hurdle for the bill before moving to Gov. Greg Abbott’s desk for signature. We want to express our gratitude to our lawmakers, the Sunset Commission, and our friends at the Credit Union Department. I also want to thank our advocacy team, led by Texas Credit Union Association Executive Director Gili Carter. It’s big wins like this that really shine a spotlight on the advocacy work we do on behalf of our credit union members.

Cornerstone welcomes Communication Federal Credit Union President/CEO Larry Shropshire to the League’s board of directors. Larry fills the position in Asset Category 4 after an election held last week to fill the vacancy. I’m very pleased that he has joined the League board and feel confident his contributions will benefit our member credit unions.

If you’ve ever wondered about starting your own credit union foundation but got stopped in your tracks because even the idea felt daunting, your Cornerstone Foundation has a solution: a Donor Advised Fund. This unique type of foundation offers many of the advantages of a private/public credit union foundation without the initial set-up costs, ongoing excise taxes, and administrative expenses. Read the article to discover the many benefits of a Donor Advised Fund and how it works.

Cornerstone Resources has partnered with Invo Solutions, the largest in-branch and digital video banking provider in North America. Invo Solutions is a pioneer in the video software space, having created a cross-industry product that can greatly improve a credit union’s efficiency and member experience. We are proud to bring this partnership to the marketplace.

In addition to Cornerstone news, we’ve got some great stories from credit unions around the region. People’s Trust FCU announced a new six-person cohort for its Emerging Leader Program; Lisa Miller has been named chief operating officer at Mobiloil Credit Union; and A+ Federal Credit Union has awarded Central Texas students $100,000 in scholarships.

Thank you for reading and for your membership. We are here to serve and appreciate your feedback. Have a productive week.