|L-R: Rep. Scott Peters, D-CA; and Rep. John Campbell, R-CA|
CAPITOL HILL UPDATE ON CA, NV CUs
updated 07/01/13 07:48 AM
Movement Begins a Marathon
From taxes to nominations and everything in between, there’s been a high level of credit union activity on Capitol Hill over the past week. Members of Congress are working this week in their districts through the July 4 holiday and will return to Washington, D.C. next week for a sprint to the August recess.
The following is a sample of some of the top issues affecting credit unions that the California and Nevada Credit Union Leagues are following:
The chairman and ranking member of the Senate Finance Committee released the committee's plan to begin an overhaul of the tax code (Click here for more details within a special message last week from Leagues President and CEO Diana Dykstra). This comes as no surprise to credit unions, which have been gearing up for this battle with the Don't Tax My Credit Union campaign.
Despite what many have said, credit unions must treat this as a true threat. All competing interests (not just banks) will be asking members of Congress to engage on their behalf. This process will run through the beginning of August and possibly beyond.
New MBL Co-Sponsor
Regulatory relief remains at the top of credit unions' agenda. Credit unions can push Congress to enhance the credit union charter while defending the movement's tax status at the same time. (Members of Congress support credit unions by co-sponsoring legislation to strengthen the credit union charter).
From Nevada, all four of the House delegation are co-sponsors of H.R.688, which raises the member business lending cap.
From California, the 34th co-sponsor (out of 53) joined the bill this week. Rep. Scott Peters, D-CA (San Diego), is the latest to join 106 other members of Congress. The Leagues and credit unions thank him and his other colleagues for their support.
The House Financial Services Committee has been developing a regulatory relief package, which remains under construction. It's likely a hearing will be held in the summer or fall months to assemble a package. Continuing to gain co-sponsors for these credit union bills is the best way to ensure they are included in this package.
The nomination of Richard Metsger to be the next board member of the National Credit Union Administration (NCUA) was considered in the Senate Banking Committee. Credit unions should expect the committee to pass Metsger’s nomination sometime in July.
Longtime CU Friend Retires
Rep. John Campbell, R-CA (Orange County), announced last week he will retire at the end of this congressional session. Campbell has been a strong advocate for credit unions on the House Financial Services Committee during his service.
Congress returns next week in a marathon session leading up to the August recess. During the month of August, members of Congress will be at home in their districts, where the Leagues will be encouraging all to participate in district meetings.
When Congress returns in September, the Leagues will welcome member credit union representatives to join the Leagues in Washington, D.C. on Sept. 9-11 for a "Hike the Hill" gathering. This will be an opportunity to talk to Congress directly about the credit union movement's tax status, regulatory relief measures, and the future of the credit union movement.
AB 2274 PASSES STATE SENATE updated
08/16/16 11:19 AM
Unanimous Vote of 38-0
The California Credit Union League sponsored legislation, AB 2274 (Dababneh), passed the California State Senate Floor last night with a vote of 38-0.
CUs GATHER FOR ANNUAL SHAPIRO SUMMIT updated
08/16/16 07:45 AM
Talked Lending, Growth, and Tech
More than 65 credit union professionals and leaders came together on Aug. 5-6 in Redwood City, CA for the 2016 Shapiro Summit, an event for credit unions $50 million and under to discuss important issues impacting their business, including technology, marketing, operational efficiency, and regulations. A CEO Roundtable was held in conjunction with the event. The Shapiro Summit was highly rated for its educational content and networking opportunity.
CU MORTGAGE REFIs SOAR AS RATES DIP updated
08/03/16 09:13 AM
Home Equity a Contributing Factor
As mortgage interest rates have fallen due to “Brexit” and other factors, some credit unions in California, Nevada and across the nation have taken advantage of this phenomenon by booking a noticeable number of new refinance loans.
CA LEADERS DISCUSS REGS WITH CORDRAY updated
08/01/16 10:52 AM
Credit Union Concerns Shared
Member credit unions of the California Credit Union League had the exclusive opportunity to meet with representatives from the Consumer Financial Protection Bureau (CFPB) last week, including Director Richard Cordray.
WCMS HONORS ITS 2016 CLASS updated
07/25/16 10:54 AM
101-Student Xi Class Graduated
Joining more than four thousand alumni of the school, Western CUNA Management School’s (WCMS) 55th graduating class accepted their diplomas at a ceremony held July 21 at Pomona College. The 101 students of the Xi class of 2016 received their degrees at the end of WCMS’s 57th session, held July 10-22 at Pomona College in Claremont, CA.
WCMS 2016 COLLOQUIUM updated
07/18/16 02:25 PM
It’s Up To You!
In the midst of the warm balmy, breezes typical of a Southern California evening at Bridges Auditorium in Claremont, CA, Jim Nussle, president and CEO of the Credit Union National Association (CUNA), took the stage in front of students from across the country at the Richard Myles Johnson Colloquium in Credit Union Philosophy on July 14.
'REACH 2016': IT'S TIME TO EXPLORE updated
07/07/16 03:53 PM
Education, Collaboration, Excitement
REACH 2016—the California and Nevada Credit Union Leagues' much-awaited annual convention—is taking place in four months at The Cosmopolitan of Las Vegas from Nov. 2-4. Are you ready?
WHAT CUs ACCOMPLISHED IN SACRAMENTO updated
07/05/16 09:52 AM
Mid-Year Legislative Update
The California State Legislature adjourned for summer recess on June 30 so state lawmakers can spend the month of July in their districts. But before doing so, major deadlines were met, including passing the state budget, completing all policy committee hearings, and passing any legislative measures intended to make it on the Nov. 8 election ballot.
LOCAL MEDIA: WHAT CUs SHOULD KNOW updated
06/27/16 03:45 PM
Regional Footprint Creates Opportunity
Over the past five days, a string of events pushed the “credit union” name into the spotlight on the websites of 10 suburban daily newspapers across Southern California—a phenomenon revealing how media conglomerates operate today, and how credit unions fit into this crowded and emerging picture.
NEVADA CREDIT UNION LEADER PASSES updated
06/23/16 12:49 PM
More Information to Follow
The California and Nevada Credit Union Leagues received word that Doug Schwartz, President and CEO of Elko Federal Credit Union (EFCU), was struck by a car yesterday in Elko, Nevada and passed away early Thursday. Details are still being investigated.
TMG, CO-OP: BLOCKCHAIN STUDIES updated
06/22/16 02:45 PM
Help FIs Evaluate Opportunities
Three influential payments industry players–TMG, CO-OP Financial Services and Mercator Advisory Group–are making progress on their collective plan to create much-needed clarity around the potential for blockchain technology in the community financial institution industry.
CUs CONVERGE ON ECONOMY AND STRATEGY updated
06/20/16 03:00 PM
Forecast, Discussion, and Ideas
How can credit unions prepare for 2017 given so many "what if" scenarios on the economy, interest rates, labor force, household demographics, political environment, and consumers?
DIVERSITY: GOOD INVESTMENT FOR CUs updated
06/16/16 02:33 PM
Latest Issue of “The NCUA Report”
In the latest issue of the National Credit Union Administration’s (NCUA) monthly newsletter, an article by the Office of Minority and Women Inclusion outlines how diversity leads to better service, greater innovation and increased membership. These outcomes make credit unions stronger and more sustainable, and ultimately lead to greater strength for the entire credit union system.
CA CUs SURPASS $100B LENDING MARK updated
06/14/16 08:06 AM
Auto Market Under the Microscope
California credit unions just hit a record: they surpassed the $100 billion lending milestone for the first time ever, with used auto loans making a superstar appearance during this historical moment.
FEDERATION AND EQUIFAX PARTNER updated
06/13/16 02:48 PM
Launch Financial Capability Center
The National Federation of Community Development Credit Unions (Federation) and Equifax Inc. announced a partnership to build the Westside Financial Capability Center. The Center will provide the Atlanta Westside community with affordable banking, alternatives to payday loans, affordable home mortgages, and a suite of financial services designed to empower residents to achieve their financial goals. The search for a physical site has narrowed to several options that will allow the Center to function in coordination with Atlanta area credit unions, community stakeholders and service providers. Equifax has committed $450,000 through 2018 in support of the Center which is scheduled to open in early 2017.
TWO LARGE CALIFORNIA CUs TO MERGE updated
06/09/16 02:33 PM
N. Island Financial CU & Calif. CU
Two California credit unions—the $1.24-billion North Island Financial CU and the $1.6-billion California CU—announced plans to merge.
'JUNTOS AVANZAMOS' ADVANCES FORWARD updated
06/02/16 08:09 AM
Kinecta FCU Becomes 6th in CA
Kinecta FCU and its affiliate, NIX Neighborhood Lending, were recently recognized by the National Federation of Community Development Credit Unions and the California Credit Union League with the “Juntos Avanzamos” (Together We Advance) certification—a branding initiative helping credit unions become the preferred financial resource for local organizations serving underserved Hispanic immigrants.
MEETING WITH NCUA REGION V DIRECTOR updated
06/01/16 02:11 PM
Freed Committed to Fair Process
Today in Sacramento, local credit union leaders met with National Credit Union Administration (NCUA) Region V Director, Cherie Freed, who succeeds Liz Whitehead.
DEFENSE CREDIT UNION COUNCIL LIAISON updated
05/27/16 10:21 AM
McWatters Named to Represent NCUA
At the request of NCUA Board Chairman Rick Metsger, Board Member J. Mark McWatters will serve as the National Credit Union Administration’s liaison to the Defense Credit Union Council.The agency is committed to supporting service members and hiring veterans.
RMJ LAUNCHES 'BITE OF REALITY' APP updated
05/26/16 02:40 PM
Modernizes, Streamlines Program
The Richard Myles Johnson Foundation recently rolled out an app for its successful Bite of Reality program. The app— believed to be the first of its kind for a credit union-sponsored reality fair program—modernizes Bite of Reality, making it more relatable to young people.
DECISION ENGINE TECHNOLOGY updated
05/24/16 09:57 AM
Get The Most Out of Your Technology
May is an awkward month. It’s as if it is not sure exactly what it wants to be. Somedays in May are more like April; some are more like June. Perhaps that is where we got the word “May”-be? But, one thing that is certain about May is that it is the month of graduation ceremonies, and much like the month itself, graduates are at that awkward point in life, where the future is not quite certain.
MOUNTAIN WEST JOINS 'PLEXCITY' updated
05/23/16 03:22 PM
CU Association is 6th Shared Owner
Mountain West Credit Union Association is purchasing a shared-ownership stake in Plexcity for information technology, accounting/finance, and human resource solutions, adding to the Ontario, CA-based company’s unique story of growing collaboration between credit union trade associations since January 2015.
CONNECTING WITH MEXICAN IMMIGRANTS updated
05/19/16 10:29 AM
Matrícula Consular Online Seminar June 9
Lack of identification is one of the biggest barriers for Hispanic immigrants to access affordable financial services. RSVP for a Juntos Avanzamos online seminar on using the Matrícula Consular to reach unbanked Mexican immigrants. Learn how to use the Matricula Consular as a safe, effective way to open savings and checking accounts.
SUMMER IMPACT OPPORTUNITY FOR CUs updated
05/19/16 03:30 PM
$21M Toward Jobs For Young People
Federal government leaders are working hand in hand with local stakeholders to craft solutions that harness resources across multiple agencies in response to local needs and priorities. Since 2009, more than fifteen Federal agencies have launched dozens of initiatives and partnerships with over 1,800 rural, tribal and urban communities. Federal leaders are working across agency lines and offering hands-on support to build local capacity, provide expertise, and unlock resources to help community leaders achieve their goals.