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:
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 firstname.lastname@example.org!
SAN MATEO CU CEO TO RETIRE updated
08/29/14 04:49 PM
Barry Jolette Served 27 Years
San Mateo CU board of directors announced its CEO Barry Jolette will retire after 27 years of service. He has demonstrated a close dedication to the credit union movement through his various leadership roles on local, national, and international levels. He served as the California Credit Union League Chairman in 1996; and in 1997, he was elected to the Credit Union National Association board of directors and named its chair in 2001 (until 2003)..
NCUF RELEASES ANNUAL REPORT updated
08/29/14 02:44 PM
Activities From Last 12 Months
The National Credit Union Foundation (NCUF) released its 2013-2014 Annual Report, entitled “Improving People’s Financial Lives through Credit Unions.” The report highlights the organization's program and grant activities during the past 12 months.
WEEKLY E-FILING BILL SIGNED INTO LAW updated
08/28/14 02:18 PM
Will Streamline Reports for CUs
California Gov. Jerry Brown has signed Assembly Bill 2298, legislation that will allow financial institutions which hold local agency deposits to submit their weekly reports to the California Department of Business Oversight (DBO) electronically rather than through U.S. mail.
RMJ GOLF TOURNAMENT RAISES 41k updated
08/27/14 12:56 PM
Event Attracts Nearly 100 Players
The Richard Myles Johnson Foundation/CUNA Mutual Golf Tournament, held Aug. 18 at the Newport Beach Country Club in Newport Beach, CA, raised $41,000 for the state foundation for credit unions in California and Nevada.