|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."
RATE HIKE UNLIKELY BEFORE MID-2015 updated
01/29/15 08:38 AM
Fed Watching Economic Developments
California and Nevada credit unions are cautiously keeping an eye on 2015 interest rates, and some are expecting short-term rates to increase this summer. Economists suspect the Fed is waiting to see how inflation and the global economy respond to recent shaky periods before making a decision.
'APPLE PAY' EXPANDS IN CALIFORNIA updated
01/28/15 10:07 AM
CU Leaders Discuss Member Adoption
Apple Pay will soon be in the hands of more California credit union members—this time at KeyPoint Credit Union in Santa Clara, CA.
ACCEPTING APPS: CU ADVISORY COUNCIL updated
01/27/15 11:00 AM
Eight Seats Vacant in Fall 2015
The Consumer Financial Protection Bureau (CFPB) is accepting applications for membership on its Credit Union Advisory Council and inviting individuals who can provide the bureau with guidance as it carries out its work.
CONGRESSMAN VISITS TRAVIS CU LEADERS updated
01/27/15 10:39 AM
DeSaulnier Makes it a Top Priority
As first reported on the California and Nevada Credit Union Leagues’ Advocacy Blog, newly sworn-in Rep. Mark DeSaulnier, D-CA, attended a district meeting at Travis CU on Jan. 23.
CLARK COUNTY CU AWARDS DIVIDENDS updated
01/22/15 02:07 PM
$2.7 Million to 34,000 Members
For Clark County CU, 2014 was a successful year as the credit union closed out with a healthy net worth ratio of 11.77 percent and recorded an annualized net income of nearly $12.3 million. This afforded the credit union to award a whopping $2.7 million in bonus dividends to nearly 34,000 members. Each bonus averages $79 per member, with the highest single bonus totaling just more than $10,000.
BIZ KID$ FINANCIAL GRANTS AVAILABLE updated
01/21/15 12:41 PM
Application Deadline is March 31
Promote financial literacy at your credit union and in your community with a Biz Kid$ Financial Education Grant from the National Credit Union Foundation (NCUF). Apply for the grant by March 31, 2015.
IMMIGRANT EVENT ANSWERS QUESTIONS updated
01/20/15 11:41 AM
Los Angeles Councilman Speaks
With President Barack Obama’s recently issued executive order on immigration, something transformative could be in store for credit unions serving immigrant communities—but it’s going to take more knowledge, more action, and a desire to understand the culture and language surrounding this group of individuals.
NCUA's SECOND RBC PROPOSAL updated
01/15/15 10:32 AM
New Draft More Favorable
The Leagues are thoroughly reviewing the National Credit Union Administration’s (NCUA) 450-plus page Risk-Based Capital Proposed Rule in detail to understand its components and potential impact. It seems this second proposed rule is more favorable than its first draft, and that most of our requests were at least partially addressed.
RBC DISCUSSION VIDEO AVAILABLE updated
01/15/15 03:45 PM
Captures Revised Plan
The Credit Union National Association (CUNA) video of today's National Credit Union Administration (NCUA) open board meeting discussion of a new risk-based capital (RBC) plan is now available for viewing.
NCUA PAYS FOR DATA BREACH updated
01/15/15 02:33 PM
Palm Springs FCU Receives Up To $50K
The National Credit Union Administration (NCUA) board has approved payment of up to $50,000 for costs associated with a data breach at Palm Springs FCU late last year.
CO-OP PROCESSED 3B IN 2014 updated
01/14/15 11:04 AM
Sets New Record
CO-OP Financial Services processed more than three billion electronic funds transfer (EFT) and shared branch transactions by credit union members in 2014—an 8 percent increase compared to 2013. This sets a new record for CO-OP.
CUs MEET WITH NCUA, CFPB OFFICIALS updated
01/13/15 09:44 AM
2nd RBC Proposal, Overdraft Discussed
California and Nevada credit union leaders met last week with officials from the National Credit Union Administration (NCUA) and Consumer Financial Protection Bureau (CFPB) to discuss the agencies’ regulatory impact on credit unions.
CO-OP ANNOUNCES THREE PROMOTIONS updated
01/12/15 12:18 PM
New CIO, CMO, and SVP
CO-OP Financial Services has promoted three employees to new positions: Terrence Griffin has been promoted to chief information officer; Samantha Paxson to chief marketing officer; and Connie Trudgeon to SVP of network operations and implementation.
'GAC' AND 'GRR': TWO POWERFUL EVENTS updated
01/12/15 04:37 PM
Your Voice is Needed
The credit union movement needs YOUR voice in Washington, D.C., Sacramento, and Carson City this year as discussions take place on legislative policies that may affect credit unions at the state and federal levels, as well as regulatory issues.
WCMS PRES. RETIRES AFTER 44 YEARS updated
01/09/15 04:44 PM
James D. Likens To Serve Through 2015
Western CUNA Management School (WCMS) officials have announced that Dr. James D. Likens will be retiring from his post as president and CEO of the school at the end of 2015. Likens will continue to direct the school through the end of the year.
CA/NV CUs CAN VIEW RBC DIALOGUE updated
01/09/15 02:26 PM
CUNA to Record NCUA Session
California and Nevada credit unions will have the opportunity view the National Credit Union Administration (NCUA) risk- based capital (RBC) discussion meeting on Jan. 15.
SEN. BOXER NOT SEEKING RE-ELECTION updated
01/08/15 10:22 AM
Served Two Decades in U.S. Senate
In a video announcement earlier this morning, Senator Barbara Boxer (D-CA) stated she will not seek re-election in 2016 when her term expires. Her retirement announcement is not unexpected.
DYKSTRA TALKS LEADERSHIP updated
01/08/15 09:04 AM
California and Nevada Credit Union Leagues President and CEO Diana Dykstra was recently interviewed by CUToday.info to share her thoughts on leadership and management. In this interview, Dykstra talks about communication, working with board of directors, staying relevant, and more.
LEAGUES OFFICIALLY LAUNCH 'PLEXCITY' updated
01/06/15 10:13 AM
Unique Shared-Service Vision
The California Credit Union League, Maryland and District of Columbia Credit Union Association, and New Jersey Credit Union League officially launched Plexcity on Jan. 2—a new shared-services company that will aggregate accounting and finance, human resources, and information technology departments for trade associations across the nation.
CUNA ANNOUNCES REORGANIZATION updated
01/06/15 02:06 PM
Changes to Senior Leadership Team
The Credit Union National Association (CUNA) has announced the reorganization of its senior leadership team in an effort to streamline and better serve the needs and interests of credit unions.
114TH CONGRESS BEGINS TODAY updated
01/06/15 01:43 PM
Leagues Join Aguilar in Swearing-In
Today is the beginning of the 114th session of Congress and the California and Nevada Credit Union Leagues was there to welcome members.
JENSEN JOINS LEAGUES' ADVOCACY TEAM updated
01/05/15 11:29 AM
Will Represent CUs in Sacramento, Carson City
Courtney Jensen has joined the California and Nevada Credit Union Leagues as legislative advocate, where she will support and promote credit unions at the state level.
CMN FUNDRAISING REMITTANCE updated
01/05/15 10:51 AM
Submission Deadline: Jan. 16
If your credit union raised funds for Children’s Miracle Network (CMN) Hospitals in 2014, please submit your funds on or before Jan. 16 to count toward 2014 fundraising totals. Click here to access the form, which includes mailing instructions, along with your fundraising check.
CA CUs GAIN CORPORATE REPRESENTATION updated
01/05/15 10:15 AM
Steve Devan on Catalyst Board
For the first time since the corporate credit union world experienced enormous regulatory changes, a sizeable number of California credit unions are gaining a voice on the board of directors at a large corporate: Steve Devan, CEO of $90-million-asset Grossmont Schools FCU in El Cajon, CA.