NCUA STUDENT GRANTS ANNOUNCED
updated 05/06/13 01:45 PM
Low Income CUs Can Apply
The National Credit Union Administration (NCUA) announced it is offering up to $80,000 in grants to low-income credit unions to hire student interns during the summer internship season.
“The Student Internship Grant Initiative provides the next generation with the opportunity to gain professional experience, enhance job skills, and learn more about the credit union industry,” said NCUA Board Chairman Debbie Matz. “Additionally, this initiative allows low-income credit unions to find and groom the industry’s future leaders. The infusion of new and diverse talent will assist credit unions to continue to improve their member services.”
NCUA will award up to $4,000 to each eligible credit union. To be eligible, a credit union must have a low-income designation and be financially viable. Low-income credit unions may only use these grants for a student internship. Credit unions that received a student internship award in 2012 are not eligible for funding this year.
NCUA will accept applications from May 1–20. NCUA’s Office of Small Credit Union Initiatives will review applications immediately upon receipt and issue approvals on a first-come, first-served basis until all funds are exhausted. Credit unions are therefore encouraged to submit their applications to NCUA as soon as possible once the application period opens.
NCUA has provided funding under the Student Internship Grant Initiative to low-income designated credit unions since 1998. In 2012, NCUA awarded 24 credit unions with nearly $106,000 under this program.
Funding for the Student Internship Grant Initiative is provided by the Community Development Revolving Loan Fund (CDRLF). Congress established the CDRLF to provide grants and loans to credit unions that serve low-income communities. NCUA’s OSCUI administers these funds. Since 2001, Congress has appropriated $10.4 million for CDRLF grants.
NCUA’s OSCUI fosters credit union development and the effective delivery of financial services for small credit unions, new credit unions and credit unions with a low-income designation.
NCUA will announce additional grant initiatives for 2013 in mid-June.
LEAGUES ASK NCUA FOR MBL GUIDANCE updated
09/01/15 11:25 AM
Supervisory Guidance Uncertain
In response to the National Credit Union Administration’s (NCUA) proposed member business lending rule, the California and Nevada Credit Union Leagues are urging the agency to provide clarification on specific issues related to the proposal and to publish for comment a proposed supervisory guidance.
CA REPS SUPPORT NCUA’S MBL PROPOSAL updated
08/31/15 11:41 AM
Monday's Supporters Make 5 Total
Five members of Congress from California have written letters to the National Credit Union Administration (NCUA) supporting the agency’s proposed member business lending rule, which would allow credit unions more flexibility in making member business loans.
PLEXCITY ADDS HAWAII LEAGUE AS OWNER updated
08/31/15 10:25 AM
Increases ROI for all Stakeholders
Adding to its unique story of growing collaboration between credit union trade associations since January 2015, Plexcity announced that the Hawaii Credit Union League is purchasing a shared-ownership stake in the Ontario, CA-based company for information technology, accounting/finance, and human resource solutions.
CMG DISCOVERY CONFERENCE COMING SOON updated
08/28/15 02:04 PM
Virtual Meeting To Offer Insights
CUNA Mutual Group will hold its sixth annual Discovery Conference on Wednesday, Oct. 21. This no-cost conference will provide valuable insights pertaining to key topics and trends in the credit union industry—to help credit union leaders move forward with more confidence.
CU CEO CONFIDENCE INDEX RISES updated
08/26/15 01:56 PM
In Better Spirits Regarding Economy
Catalyst Corporate FCU's CEO Confidence Index bounced up in the second quarter, after see-sawing up and down the previous four quarters.
ADDITIONS TO SEPT. 'HIKE THE HILL' updated
08/24/15 12:08 PM
Coffee With Regulators and MBL
In two weeks, the California and Nevada Credit Union Leagues’ will host a “Coffee with the Regulators” meeting during the annual Hike The Hill gathering on Capitol Hill (Sept. 8-10). Credit union attendees will discuss relevant and important issues with officials from the National Credit Union Administration (NCUA) and Consumer Financial Protection Bureau (CFPB).
FHA ISSUES STATEMENT ON 'PACE' LOANS updated
08/24/15 02:41 PM
Consistent With Leagues' Comments
On Monday, the Federal Housing Administration (FHA) issued a policy statement on Property Assessed Clean Energy (PACE) that is consistent with comments from the California and Nevada Credit Union Leagues’ position on the issue.
REP. MCCLINTOCK SUPPORTS MBL RULE updated
08/21/15 10:45 AM
Submits Letter to NCUA
As reported in the California and Nevada Credit Union Leagues’ Advocacy Blog, Representative Tom McClintock (R-El Dorado) is now the second member of Congress to send a support letter to the National Credit Union Administration (NCUA) in support of credit unions and their proposal to modernize the member-business lending (MBL) rule. Rep. Julia Brownley (D-Ventura) sent a letter last week.
WHAT'S DRIVING MEMBERSHIP GROWTH updated
08/19/15 11:59 AM
Three California Perspectives
Competitive products and services don’t tell the whole story of why membership continues to soar at several credit unions in California. Neither does the growing economy.
RMJ TOURNEY RAISES NEARLY $60,000 updated
08/19/15 10:39 AM
Event Sold-Out With 144 Golfers
The Richard Myles Johnson (RMJ) Foundation/CUNA Mutual Golf Tournament, held August 17 at the Newport Beach Country Club in Newport Beach, CA, raised nearly $60,000 for the state foundation for credit unions in California and Nevada.
'PACE' EXPANSION ATTEMPT DEFEATED updated
08/18/15 10:36 AM
League Engaged Lawmakers on Issue
The California Credit Union League has helped defeat an attempt in the California legislature (Senate Bill 602) to give super-lien rights to unregulated lenders through Property Tax Assessed financing.
CALL TO ACTION: MBL COMMENTS NEEDED updated
08/17/15 04:28 PM
NCUA Deadline is Aug. 31
More positive comment letters that support the National Credit Union Administration’s (NCUA) proposed member business lending rule are needed to help the agency shape its final rule—including letters from your credit union and your business members.
CA CUs AID FIRE VICTIMS updated
08/14/15 03:20 PM
Fundraising Efforts Continue
As more than dozen fires raged on in northern California in recent weeks, area credit unions stepped up efforts to help—supplying the hard-working firefighters with goodie baskets of water, food, and supplies; helping in large animal rescues and defending family farms; and raising much-needed donations to help those who have suffered losses. Some Coast Central CU staffers—who are also volunteer firefighters—were deployed to help fight the fires.
CU Direct Partners with CULA updated
08/13/15 02:54 PM
Leasing Option Availability
CU Direct, the provider of lending, automotive and strategic solutions to the credit union industry, has entered into a new agreement with Credit Union Leasing of America.
MEMBER BEHAVIOR: SHIFT IS COMING updated
08/11/15 10:40 AM
Conference Spotlights Rates, Economy
It was evident during a three-day conference in San Diego that credit unions are on high alert as they wade into tricky waters and strategize how to manage balance sheet spreads and liquidity in light of the Federal Reserve’s upcoming federal funds interest rate hike.
CUs GAIN INSIGHTS AT SHAPIRO SUMMIT updated
08/11/15 09:25 AM
Talk Strategy, Marketing, Trends
More than 60 credit union leaders from California and Nevada, speakers, and League staff convened at the annual Shapiro Summit on Aug. 7-8 in Ontario, CA to discuss important issues credit unions $50 million and under face in today’s economy, and how to overcome those obstacles.
NCUA AWARDS $2 MILLION IN GRANTS updated
08/07/15 11:05 AM
Funds Help 225 Low-Income CUs
The National Credit Union Administration (NCUA) has awarded more than $2 million in grants to help 225 low-income credit unions expand products and services, open branches or relocate offices, advance digital growth, and provide greater security for their members.
Auto & Home Loans Drive Trend updated
08/07/15 02:42 PM
Member Lending Benefiting CUs
California and Nevada credit unions are experiencing auto and mortgage loan growth as part of a trend of increased lending activities by credit unions nationwide.
REP. BROWNLEY SUPPORTS MBL RULE updated
08/06/15 04:28 PM
Writes Letter to NCUA
As reported in the California and Nevada Credit Union Leagues’ Advocacy Blog, Representative Julia Brownley (D-Ventura) was the first member of Congress to formally write to the National Credit Union Administration (NCUA) in support of their proposal to modernize the member-business lending (MBL) rule. There will likely be many more to write in support of updating this outdated member business lending rule.
Vendor Authority Bill, Halted updated
08/05/15 04:20 PM
The League & CUNA Oppose Amendment
The U.S. Senate just adjourned for the August recess, but not without controversy for credit unions. The Senate was supposed to consider a bill addressing cybersecurity issues. During consideration, Sen. Elizabeth Warren (D-MA) introduced an amendment that would expand the NCUA's third-party vendor authority. The League and CUNA mobilized to halt any progress of this amendment. With the Senate's adjournment this afternoon, neither the bill or vendor authority amendment progressed. Credit unions, our CUSO partners, and vendors will now have time to further mobilize against future efforts.
CO-OP LAUNCHES CO-OP API SUITE updated
08/05/15 01:52 PM
New Developer Tool Helps CU Apps
CO-OP Financial Services is introducing a suite of APIs (application program interfaces) that will enable credit unions to quickly integrate the latest mobile and online technology directly into their existing mobile and virtual channels.
STATE EXPLORES BANKING MARIJUANA BIZ updated
08/03/15 02:30 PM
CU Reps Discuss on CA Panel
While California Board of Equalization Member Fiona Ma is proposing a state-run bank to serve the “legitimate” marijuana industry in California, the board is concerned with people walking into their offices with thousands of dollars in cash to pay their state taxes.
CUNA’S ’15-’17 STRATEGIC PLAN updated
07/31/15 09:44 AM
Letter From CEO Jim Nussle
The Credit Union National Association (CUNA) sent to credit unions a letter which contained the association’s 2015-2017 strategic plan, detailing how President and CEO Jim Nussle will fulfill mandates he received from the board when he signed his contract last September.
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.