|L-R: Rep. Brad Sherman, D-CA; Rep. Tom McClintock, R-CA; Diana Dykstra, President and CEO of the California and Nevada Credit Union Leagues; and Rep. Ami Bera, D-CA|
|L-R: Senate Majority Leader Harry Reid, D-NV, discusses credit union legislation with Nevada Credit Union League Chairman and Clark County CU CEO Wayne Tew (left) and other Nevada credit union CEOs and executives.|
|L-R: Shruti Miyashiro, CEO of Orange County's CU; Diana Dykstra; and Teresa Halleck, Chairman of the California Credit Union League and CEO of San Diego County CU|
CU LEADERS IMPRESS LAWMAKERS ON HILL
updated 03/05/13 10:37 AM
MBL, Supplemental Capital Discussed
Nearly 180 California and Nevada credit union executives and board members attended the Credit Union National Association's 2013 Governmental Affairs Conference (GAC) in Washington, D.C. last week, meeting with legislators on the importance of retaining the movement's federal corporate income tax exemption, as well as passing member business lending legislation.
Members of congress—as well as legislative aides—were impressed during visits at everything credit unions in California and Nevada are accomplishing within their individual communities, whether working with members on their mortgages or taking the initiative to be good community stewards.
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Click here to view the entire 2013 GAC photo gallery.
The Issues at Stake
During legislator visits on Capitol Hill, credit union groups also stressed the importance of supplemental capital for the industry and voiced support for The Capital Access for Small Businesses and Jobs Act, which Rep. Brad Sherman, D-CA, recently reintroduced in the House of Representatives. The bill would permit the National Credit Union Administration to allow credit unions to accept additional forms of capital, and is identical to legislation introduced last session.
Sherman also recently reintroduced The Eliminate Privacy Notice Confusion Act, which would make significant improvements in privacy notices for consumers.
The political debate over housing finance reform is still taking shape. Credit union advocates are working to ensure the movement gets its rightful place at the discussion table, as the federal government decides how to handle government-sponsored enterprises Fannie Mae and Freddie Mac, as well as other mortgage and consumer financial issues.
California and Nevada
California legislators speaking during GAC's general session on Tuesday and Wednesday included Reps. Kevin McCarthy, R-CA; Ed Royce, R-CA; Brad Sherman, D-CA; and Maxine Waters, D-CA (ranking democrat on the House Financial Services Committee). Before and after speaking, they shook hands with credit union CEOs and board members from across California, giving those attendees a positive touch-point.
Additionally, the California Credit Union League held a successful fundraiser earlier that morning for another House co-sponsor and credit union supporter, Rep. John Campbell, R-CA, who was very gracious.
Credit Union House
Credit Union House buzzed with chatter as the following members of Congress stopped by on Wednesday night to address advocates: Reps. Grace Napolitano, D-CA; Janice Hahn, D-CA; Ami Bera, D-CA; Brad Sherman, D-CA; Tom McClintock, R-CA; and Dana Rohrabacher, R-CA. These legislators reiterated their support for credit unions as the so-called "sequester" budget cuts loomed during that week over Capitol Hill and the White House.
CUNA President and CEO Bill Cheney also stopped by to address supporters, saying that CUNA, the California and Nevada Credit Union Leagues, and other state leagues are marching forward in 2013 with a strong credit union message that lawmakers are taking note of, especially since many credit union members are constituents in their respective districts.
Leagues President and CEO Diana Dykstra spoke as well. "Overall, the tone from lawmakers we visited was more positive than in the past two years," Dykstra said in a special message sent to members later that week. "Once again, I saw that with a focused message and a strong turnout, credit unions can cut through the political clamor and leave a strong impression. Participating in events like GAC and the Government Relations Rally (GRR) turns lukewarm credit union supporters into good ones, and good supporters into great ones. Thank you for your support, and let's continue reaching out whenever we can."
NV FIELD OF MEMBERSHIP SUPPORT updated
02/11/16 02:24 PM
Rep. Joe Heck Supports FOM Rule
As reported earlier today in the California and Nevada Credit Union Leagues Advocacy Blog, Congressman Joe Heck (R- Henderson) just submitted a support letter for the field of membership rule. Rep. Heck becomes the first Nevada Member of Congress and first outside of California to submit a support letter.
CO-OP MIRACLE MATCH SHATTERS RECORD updated
02/11/16 01:22 PM
$4.3M Raised for CMN in 2015
More than 200 credit unions participating in the CO-OP Miracle Match program during 2015 netted $4.3 million for Children’s Miracle Network Hospitals, a 39 percent increase compared to the previous record set in 2014.
A DECISION ON CHOICE updated
02/09/16 11:30 AM
CA and NV Leagues Vote
On Feb. 8, the boards from the California and Nevada Credit Union Leagues voted to approve membership choice, to be implemented in 2017 in conjunction with the dues cycle.
FEDERAL ADVOCACY DEVELOPMENTS updated
02/09/16 09:12 AM
FOM Rule and District Meetings
As recently reported in the California and Nevada Credit Union League's Advocacy Blog, two developments have recently occurred on the federal side of advocacy.
REP. LINDA SANCHEZ' LETTER TO NCUA updated
02/09/16 08:55 AM
Support for FOM Rule
As reported in the California and Nevada Credit Union League's Advocacy Blog, California Rep. Linda Sanchez (D- Norwalk), a member of the House Committee on Ways and Means (which governs the credit union tax status) and Chair of the Congressional Hispanic Caucus, submitted a letter to the NCUA in support of the field of membership rule. Rep. Sanchez states in her letter, "with a large Latino constituency that is comprised of many unbanked consumers, this rule is a positive step toward addressing this issue."
CA ASSEMBLY BANKING CHAIR SPEAKS updated
02/08/16 09:50 AM
So. Cal Leaders Meet with Dababneh
As reported in the California and Nevada Credit Union League's Advocacy Blog, Southern California credit union leaders met with Assemblymember Matt Dababneh (D-Encino) last Friday at Wescom Credit Union.
THINK 16 CONFERENCE SPEAKERS updated
02/04/16 09:19 AM
May 3-6 in San Diego
CO-OP Financial Services has announced eight featured speakers for THINK 16, focusing on leading social, consumer and technology trends to help credit unions re-envision what “People Helping People” means in 2016 and beyond.
FIELD OF MEMBERSHIP (FOM) RULE updated
02/04/16 09:12 AM
More Congressional Action
As reported yesterday in the California and Nevada Credit Union League's Advocacy Blog, Rep. Doug LaMalfa (R-Chico) has sent the attached support letter to the NCUA for their Field of Membership rule.
ONLY 7 DAYS TO COMMENT ON PROPOSAL updated
02/02/16 07:04 AM
NCUA's Field-of-Membership Rule
The countdown is on as the Feb. 8 (Monday) deadline approaches for federal and state chartered credit union leaders to submit comments supporting the National Credit Union Administration’s (NCUA) Field-of-Membership (FOM) proposal.
CEOs SOUND OFF ON NCUA'S PROPOSAL updated
02/01/16 03:36 PM
Urge Peers to Comment on FOM
California credit union CEOs are sounding off as the deadline approaches (Feb. 8) to comment on the National Credit Union Administration’s Field-of-Membership (FOM) proposal—one that will update rules to reflect marketplace changes and give the industry a broader menu of flexible options for remaining competitive.
UNCLAIMED PROPERTY AND 'PACE' REFORM updated
02/01/16 01:47 PM
Rounding Out CA Legislative Goals
Threats to credit unions are already being spotted on the horizon by the California Credit Union League’s advocacy team as the state legislature’s Feb. 19 deadline to introduce new legislation looms.
ANNUAL PRIVACY NOTICES updated
01/29/16 11:47 AM
As reported in the League's Advocacy Blog, after the release of the NCUA Letter to Credit Unions, #16-CU-03, about privacy notices, the California and Nevada Credit Union Leagues took action to clarify applicability to state laws. The NCUA letter addressed the recent federal law change on annual privacy notices related to Gramm-Leach-Bliley that states that when a financial institution meets certain statutory requirements, it no longer must send annual privacy notices.
CU LEADERS MEET WITH LEGISLATOR updated
01/29/16 05:09 PM
Asm. Kim Tours Credit Union
As reported earlier today in the California and Nevada Credit Union League's Advocacy Blog, Southern California credit union leaders met with Assemblywoman Young Kim (R-Fullerton).
CU LEADERS MEET WITH ASSEMBLY MEMBER updated
01/28/16 01:47 PM
Portantino Running for Senate
As recently reported in the Leagues Advocacy Blog, credit union leaders met with former member of the Assembly, Anthony Portantino, who served from 2006 until being termed out in 2012. Prior to his time in office, he spent many years working in film and television production and is currently is a Visiting Fellow teaching Values Based Political Leadership at USC.
COMMENTS NEEDED: NCUA'S FOM PROPOSAL updated
01/26/16 10:06 AM
Deadline is February 8
With less than two weeks until the comment deadline of Feb. 8, it is crucial the National Credit Union Administration (NCUA) hear from credit unions in support of the proposed chartering and field-of-membership (FOM) amendments.
LEAGUE'S 2016 CA LEGISLATIVE AGENDA updated
01/26/16 09:10 AM
Charter Modernization, CUSOs, LICU
The final year of the two-year state legislative session (2015-2016) in California is here, and the California Credit Union League’s advocacy team is primed to roll out a robust legislative package.
ANAHEIM DUCKS HONOR RICHARD JOHNSON updated
01/21/16 03:09 PM
Recognized For Military Career
Before Richard Myles Johnson was a credit union industry icon, he was a Marine. He joined the U.S. Marine Corps in 1941. He ended his military career as a colonel in 1972. Along the way, he amassed a vast number of ranks, honors, and awards, including the Bronze Star and Purple Heart.
FINANCIAL OPPORTUNITY: TWO TALES updated
01/19/16 10:40 AM
CUs Can Take Pulse of Econ. Mobility
As financial “opportunity” for low and middle-income Americans is debated leading up to a national election this November, many within the credit union industry can take a pulse of their members’ financial health and how economic changes are shaping that opportunity.
ROYCE HELPS FORM COOPERATIVE CAUCUS updated
01/19/16 07:18 AM
Business CO-OP: Focus on Legislation
Last week Rep. Ed Royce, R-CA (Brea), joined Rep. Mark Pocan, D-WI, to found the Congressional Cooperative Business Caucus. With Royce’s dedication and expertise in credit unions, it comes as no surprise he is chairing a new caucus to focus on legislation that impacts cooperative businesses.
FIELD OF MEMBERSHIP RULE updated
01/13/16 10:53 AM
CA Congressman Gives Support
California Congressman Ted Lieu (D-El Segundo) has just sent the NCUA a support letter in favor of their Field of Membership Rule. In his letter, Rep. Lieu endorses for several of the provisions in the rule (letter linked below).The League has been working with our congressional delegation to ensure there is overwhelming support for this rule.
RMJ TO BE HONORED AT HOCKEY GAME updated
01/13/16 01:59 PM
Recognized as Armed Services Vet
Richard Myles Johnson— who joined the credit union movement after finishing a 30-year career in the United States Marine Corps, where he retired as a colonel—is scheduled to be recognized as the honored armed services veteran by the Anaheim Ducks hockey team at its home game Wednesday, Jan. 20.
FHLB MEMBERSHIP updated
01/12/16 12:51 PM
Final Rule Issued
Today the Federal Housing Finance Agency (FHFA) issued their final rule on Federal Home Loan Bank (FHLB) membership. After receiving over 1,300 comment letters—an unprecedented amount, with most in opposition—the FHFA’s final rule does not include two provisions for which the Leagues strongly opposed. That is, the final rule does not require financial institutions to hold one percent of their assets in home mortgage loans and 10% of assets in residential mortgage loans (RML) on an ongoing basis.
TARGET SETTLEMENT DETAILS updated
01/12/16 10:34 AM
Available on New Website
Credit unions have begun receiving email and paper mail directing them to a dedicated website that offers information on the Target data breach litigation, including settlement terms, important dates, frequently asked questions, information on filing a claim, directions for opting out, court and settlement documents, and contact information.
CO-OP CEO STAN HOLLEN TO RETIRE updated
01/12/16 09:39 AM
More Than 10 Years at CUSO
In a landmark moment for the nation’s largest credit union service organization, CO-OP Financial Services (based in Rancho Cucamonga, CA) announced this morning that President and CEO Stan Hollen will retire on May 31, 2016.