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.
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.