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LEAGUES LAUNCH 'POWER COMMENT'
updated 05/14/13 10:08 AM
Online Tool Gives CUs Powerful Voice
The California and Nevada Credit Union Leagues have launched PowerComment, an innovative and comprehensive online advocacy tool geared to assist every credit union in California and Nevada take an active role in helping shape proposed federal and state regulations.

PowerComment is the Leagues’ response to the uptick in volume, complexity, and frequency of new rules and proposed amendments inundating the credit union industry.

“We’ve been hearing from credit unions about their struggles with regulatory burdens,” said Sharon Lindeman, vice president of regulatory advocacy for the Leagues. “The Leagues write comment letters on proposed rules to help mitigate those burdens, but it is the united effort of individual credit unions that can really make a difference. We want to give credit unions the tools they need to be part of the regulatory process and have their voices heard."

Launched this week, PowerComment consists of three components to assist credit unions. CEOs, executives, compliance officers, and others can:

  • Find up-to-date and easily digestible information on current proposed rules.
  • Participate in discussion boards with other PowerComment users and the Leagues’ staff to increase their understanding of proposed rules.
  • Write comment letters to regulators and immediately submit them.

Lindeman said the comment letter feature gives credit unions the opportunity to not only voice their concerns or support regarding a rule, but also write personalized letters that express how the proposed rule will impact their credit union and members.

“Personalized letters are what carries weight and will make an impact,” Lindeman said. “When regulators hear from a large number of credit unions, they will take those thoughts and concerns into account when formulating a final rule.”

Leagues President and CEO Diana Dykstra said credit unions are in the middle of one of the most challenging regulatory environments in the history of credit unions, with no end in sight to this trend. However, with PowerComment available to credit unions, they now have the opportunity to unite together on proposed regulatory changes in a simple—yet dynamic—online format.

"There is no easy defense against these regulatory changes," Dykstra said. "But what we can do is stand together, raise our voices, and make every effort to combat the impact of proposed changes as they arise. PowerComment gives credit unions that platform."

PowerComment is a free regulatory advocacy service available to all California and Nevada credit unions. Register at PowerComment, or contact Leagues Vice President of Regulatory Advocacy Sharon Lindeman at 909-212-6063 or sharonl@ccul.org!

 
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CU DIRECT TO DONATE 20K TO CMN updated 12/16/14 11:03 AM
‘20 for 20’ Anniversary Campaign
CU Direct, the nation’s leading provider of lending, automotive, and strategic solutions for credit unions, is celebrating its 20th anniversary by holding a contest to donate $20,000 to one of the nation’s Children’s Miracle Network (CMN) hospitals.

NCUA MAY BE LIABLE FOR DATA BREACH updated 12/16/14 10:05 AM
Flash Drive with Member Info Lost
The National Credit Union Administration (NCUA) confirmed on Dec. 15 that a flash drive containing the personal information of Palm Springs FCU member was lost during a recent audit. The loss of data includes names, addresses, Social Security numbers, and account information.

PREPARE FOR HEALTH CARE REQUIREMENTS updated 12/16/14 09:42 AM
Also, Digital Media and Marketing
Federal health care law requirements, creating a quick digital message, and the marriage of innovation with marketing are all highlighted within the latest “Problem? Solved!” column in Credit Union Digest!

'IOLTA' BILL: A BIG WIN FOR MOVEMENT updated 12/15/14 10:36 AM
Two Credit Unions React
The Senate’s passage of H.R. 3468 on Thursday is big news for federally-insured credit unions in California and Nevada that serve attorney firms and other businesses, and could open the door to deepening current relationships and attracting new prospects.