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Mick VanStaveren of InSphere Insurance Solutions helps teens learn about child care costs during the Bite of Reality event held at San Rafael High School, hosted by Redwood CU and RMJ Foundation.
Transportation table volunteers try to convince students to spend their money on high-dollar sports cars.
Students work on managing their simulated household income and expenses during the event.

TEACHING YOUTH BASICS OF FINANCES
updated 04/30/13 10:25 AM
CUs Celebrate Financial Literacy Month
Celebrating National Financial Literacy Month and National Credit Union Youth Week, the Richard Myles Johnson Foundation and Redwood CU recently presented the "Bite of Reality" program to 85 seniors from San Rafael, Madrone, and Terra Linda high schools in Northern California.

The hands-on simulation program offered by the RMJ Foundation— together with the California and Nevada Youth Involvement Network—was held April 24 at San Rafael High School. The program is designed to teach young people the basics of finance in a fun, interactive way.

Participants were given a fictional occupation, salary, spouse and family, student loan debt, credit card debt, and medical insurance payments. They visited various table-top stations to “purchase” housing, transportation, food, clothing, household necessities, day care, and other needs. In addition, there was a credit union table-top to help with financial needs. They also faced some unexpected expenses and windfalls during the program. While some students made modest spending choices and stuck to a budget, others experienced the unpleasant consequences of spending beyond their means after purchasing luxury vacations and sports cars, leaving them without enough to pay for their necessary living expenses. Many luxury items were returned and more realistic budgets set after students sought financial advice from the credit union table.

At the end of the program, Gary Phillips, the mayor of the city of San Rafael, address the students and emphasize the importance of financial education.

“It is inspiring to watch these young adults make the same type of financial decisions during the Bite of Reality that they will have to make every day as adults, and then learn from those decisions,” said Redwood CU Assistant Vice President of Training & Financial Literacy Lee Alderman.

In addition to the Bite of Reality program, several credit unions in California and Nevada commemorated the month and Youth Week (April 22-27) with a variety of activities, including:

  • At Yuba City High School, 100 students participated in an interactive financial game called Mad City Money hosted by Sierra Central CU. Participants got a folder with hypothetical life factors and then had to shop for the things they needed. Former Sacramento Kings player Harold Pressley, who does special events for Sierra Central, walked around the gym delivering slips of paper to students for unexpected deposits or expenses. Some 17 Sierra Central employees (including CEO John Cassidy as a facilitator) and eight community people volunteered at the event. The credit union has done financial presentations for this school for the last four years but this was the first time it had presented this program.
  • The Golden 1 CU also held a Mad City Money event, for students at Lincoln High School. Some 100 Lincoln students got a taste of real-world budgeting.
  • Bay FCU provided a number of activities during National Credit Union Youth Week, including a kids fingerprinting and fire truck visit at its Watsonville branch, kids Fingerprinting at its Freedom branch, and K9 demonstrations at the Capitola and Aptos branches.

 
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CATALYST'S ANNUAL ECONOMIC FORUM updated 07/31/15 08:54 AM
Registration Now Open
Registration is now open for Catalyst Corporate's 38th annual Economic Forum, which will be held Oct. 5-7 at the Omni Mandalay Hotel, near Dallas, TX.

WCMS CELEBRATES ‘15 GRADUATING CLASS updated 07/28/15 08:42 AM
New Fellowship Announced
On July 23, Western CUNA Management School (WCMS) celebrated its 2015 graduating class—the NU Class—in an elaborate affair. Ninety-seven students graduated with Northwest Credit Union Association President and CEO Troy Stang serving as the commencement speaker.

NEW VERSION OF SPRIG BY CO-OP updated 07/24/15 12:29 PM
Available at iTunes and Google Play
An updated version of Sprig by CO-OP is now available at iTunes and Google Play—adding native apps, expanding transaction filtering, and enforcing enhanced security.

NCUA TESTIFIES BEFORE CONGRESS updated 07/24/15 09:24 AM
Chair Debbie Matz Speaks
As reported in the California and Nevada Credit Union Leagues' Advocacy Blog, yesterday the House Committee Financial Service, Subcommittee on Financial Institutions, and Consumer Credit had a very lively hearing where Debbie Matz, Chair of the National Credit Union Administration (NCUA), testified

NCUA APPROVES $1.3M REDUCED BUDGET updated 07/23/15 09:22 AM
Board Cuts Operating Fund
The National Credit Union Administration (NCUA) board approved a $1.3 million reduction to the 2015 operating budget, making better use of California and Nevada credit union dollars. Credit unions are obligated by law to pay into the NCUA, but that does not preclude the NCUA from its responsibility to operate in an efficient manner.

NCUA HEARING SLATED FOR JULY 23 updated 07/22/15 12:35 PM
Chairman Debbie Matz to Testify
The National Credit Union Administration (NCUA) Chairman Debbie Matz is scheduled to testify before the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit on Thursday, July 23 at 11 a.m. PT/2 p.m. ET. Please note this hearing was originally scheduled for Friday, July 24.

CA LEGIS. ADJOURNS FOR RECESS updated 07/21/15 09:15 AM
Bills Passed, Defeated, Pending
On Friday July 17, the California state legislature adjourned for summer recess and will return on Aug. 17 for the last month of the 2015 legislative session.

CREDIT UNION WASHINGTON UPDATE updated 07/20/15 11:50 AM
Congress in Session This Week
Nearly all state legislatures have recessed for 2015 with five remaining in regular session, including: Massachusetts, Michigan, New Jersey, North Carolina, and Wisconsin. The House and the Senate remain in session returning for another week in Washington.

WCMS PRES. HONORED AT COLLOQUIUM updated 07/17/15 02:39 PM
New Fellowship Announced
Western CUNA Management School (WCMS) hosted its annual Richard Myles Johnson Colloquium in Credit Union Philosophy event at Pomona College on July 15, celebrating the credit union movement’s achievements, along with Dr. James Likens who is retiring as CEO and president of WCMS this year.

GET RECOGNIZED. ENTER TODAY. updated 07/14/15 09:45 AM
Maxwell, Herring, Desjardins Awards
Be recognized for your outstanding programs that demonstrate the "People-Helping-People" philosophy. Submit your entry for the Dora Maxwell, Louise Herring, or Desjardins awards today!

SD ASSEMBLYMAN TALKS CU ISSUES updated 07/13/15 09:15 AM
CU Leaders Meet With Maienschein
Last Friday, San Diego credit union leaders met with Assembly-member Brian Maienschein (R-San Diego). Maienschein was elected to the Assembly in 2012 and served eight years on the San Diego City Council prior. Maienschein shared with the group his experiences in Sacramento as chair of the Assembly Local Government Committee and discussed credit union concerns related to data privacy and over-regulation.

NCUA, NTEU SIGNS EMPLOYEE CONTRACT updated 07/08/15 12:07 PM
Collective Bargaining Agreement
National Credit Union Administration (NCUA) Board Chairman Debbie Matz and National Treasury Employees Union (NTEU) President Colleen Kelley signed a new, five-year collective bargaining agreement, keeping the employee pay and benefits program competitive with the other financial services regulators as required by law.

AB 83 HEADS TO SENATE FLOOR updated 07/08/15 11:47 AM
Data Security Measure Gains 5-1 Vote
On July 7, after a substantive debate, the California State Senate Judiciary Committee approved AB 83 by Assemblyman Gatto (D-Glendale) by a 5-1 vote margin. The California Credit Union League testified in support of the measure that now advances to the Senate floor for a vote of the entire house.

'REACH 2015’ QUICKLY APPROACHING updated 07/07/15 08:50 AM
Rethink What’s Possible
REACH 2015, the California and Nevada Credit Union Leagues' highly-anticipated convention, is happening in four months in Palm Desert. Are you ready?

CCUL SECURES AMENDMENTS TO SB 34 updated 07/06/15 11:52 AM
Uninterrupted Use of ALPR
After months of tense negotiations, the California Credit Union League state lobbying team has secured amendments to SB 34 (Senator Jerry Hill D-San Mateo/Santa Clara Counties), which will allow credit unions, other auto lenders, and vendors to continue uninterrupted use of Automated License Plate Reader (ALPR) information to recover their collateral. The California legislature has embraced a broad view of consumer privacy this year and is seeking to restrict the use of ALPR information for legitimate business and prevent someone with an axe to grind to use the information to stalk someone. SB 34 will be heard in the Assembly Privacy Committee on Tuesday, July 7.

OC CU LEADERS MEET ASSEMB BROUGH updated 07/06/15 11:13 AM
Assemb Brough Shares Common CU Bond
On the eve of America's 239th birthday, credit union leaders met with state Assemblyman Bill Brough (R-Dana Point). Brough was one of several Orange County-area legislators elected in 2014 with the potential to serve up to 12 years in the legislature. Brough shared with the group his professional experience with credit unions dating back to his time as an aide to Congressman Christopher Cox who also represented the Orange County area.

CUNA, CMG: LOAN GROWTH ’15 & ‘16 updated 07/06/15 10:49 AM
Double-Digit Increases Year-Over-Year
The Credit Union National Administration (CUNA) and CUNA Mutual Group (CMG) economists expects loan growth to reach 11 percent in 2015 for the national economy, greater than the 10.4 percent increase in 2014. They forecast a minimum 10 percent growth in 2016.

NEW RIDE-SHARE RULES EFFECTIVE updated 07/02/15 04:30 PM
Insurance for Companies, Drivers
A new law requiring transportation network company (TNC) drivers and companies to have liability insurance when operating the ride-share app went into effect July 1, 2015.

SHARED CEO MODEL AND SMALL CUs updated 07/01/15 11:51 AM
CEO Jon Hernandez Shares Insight
Mattel FCU, Calcom FCU, and Nikkei CU CEO Jon Hernandez is armed with the task of running three credit unions as independent institutions, complete with their own memberships and boards. However, a savvy business man and leader, Hernandez takes advantage of economies of scale and shared resources when it makes.

CUES HONORS INSTITUTE GRADS updated 07/01/15 03:11 PM
Four from CA CUs
Four leaders from California credit unions are recent grads of the CUES Governance Leadership Institute: John Buttril, director at Xceed Financial CU; Edward Fujimoto, Supervisory Committee chair at California CU; Norma Iadevaia, board chair at University CU; and David Ostash, board chair at AltaOne FCU. A total of 39 credit union board members and executives from around the country graduated, each earning the distinguished Certified Credit Union Director (CCD) designation.

LATEST ‘MEMBERS FIRST IN ACTION’ updated 06/30/15 11:02 AM
Q2 2015 Activities from the Leagues
In this Members First In Action update, we recap the second quarter and year-to-date benefits extended to your credit union as a valued member of the California and Nevada Credit Union Leagues and Credit Union National Association (CUNA).

Congress Out, Meet with CU Leaders updated 06/30/15 10:25 AM
Southern California Credit Union Leaders Meet with Long Beach Representative Alan Lowenthal
With Congress in their districts for the 4th of July Recess, credit union leaders are at work with our congressional delegation. Today, leaders from Long Beach and Orange County met with Rep. Alan Lowenthal (D-Long Beach) at LBS Financial Credit Union. Congressman Lowenthal is a long time credit union supporter — he also told the group that he has been a member of LBS Financial CU for more than 46 years!

O.C. ECONOMIC FORECAST updated 06/30/15 09:30 AM
Local Conditions Gain Momentum
Picture this: It’s January 2017. Seven years into the recovery, your local Orange County economy has found a sweet spot among California and the United States. It’s humming along nicely—not too slow, not too fast. And the past two years? Smooth sailing.

NCUA BANS PERIODIC MEM. FEES updated 06/26/15 07:44 AM
FCUs May Not Charge Periodic Fees
The National Credit Union Administration (NCUA) announced that federal credit unions cannot charge periodic membership fees, according to a letter to the American Bankers Association.