In This Week’s Leaguer

Posted: Jun 30, 2021 | Author: Cornerstone League

advocacy American Museum of Credit Unions Balance CECL community outreach Foundation NCUA Oklahoma Credit Union Association WOCCU

On Tuesday this week, Oklahoma Credit Union Association, Cornerstone’s political arm, offered a virtual wrap-up of the 58th Oklahoma State Legislature. If you didn’t have an opportunity to attend, we’ve got your brief look at what transpired.

Cornerstone Foundation has named BALANCE, a new partner in financial literacy, as a Preferred Financial Capability Service Provider. Check out how BALANCE can help your members achieve their financial goals.

I was recently interviewed for the American Museum of Credit Unions’ Moments in Credit Union History podcast. Have a look and let me know what you think.

NCUA is set to distribute $865.5 million under the Corporate System Resolution Program to the 1,800 capital accountholders of the former Members United, Southwest Corporate, and U.S. Central corporate credit unions.

President Biden ousted FHFA Director Mark Calabria and designated Sandra Thompson as acting director. The president’s actions came only hours after a SCOTUS decision on FHFA’s leadership structure. This change is likely to have an impact on credit unions, and we’ll watch it closely.

During its recent open meeting, the NCUA board approved a CECL phase-in final rule. The rule would phase in the day-one adverse effects on regulatory capital that may result from the adoption of the CECL accounting methodology over a three-year period.

The World Council of Credit Unions just selected Elissa McCarter LaBorde as the organization’s new president/CEO—the first woman to serve at WOCCU’s helm.

In regional news, Oklahoma credit unions are embodying the “people helping people” philosophy. The Endurance Federal Credit Union annual charity golf tournament raised enough money to present three very important charities with $3,679 each.

True Sky Credit Union recently opened a new branch in an underserved area of Oklahoma City, known as Eastside, and they also partnered with a local church for another branch in the community. Fortunately, the good works never stop among credit unions.

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