|L-R (clockwise): Sen. Dianne Feinstein, D-CA; Rep. Doug LaMalfa, R-CA; Rep. Tom McClintock, R-CA; and Rep. Dina Titus, D-NV|
CUs GAIN CONGRESSIONAL SUPPORT
updated 08/21/13 08:15 AM
Political Muscle Strengthens
California and Nevada credit unions have left no stone unturned during the congressional August recess.
The California and Nevada Credit Union Leagues and its member credit unions have participated in 17 different interactions with their respective congressional delegations, including town hall events, "Congress on Your Corner" gatherings, district meetings, and political events.
While the next two weeks are imperative for credit unions to engage their members in the "Don't Tax My Credit Union" message, those in California and Nevada can be encouraged by the fact that congressional legislators in both states "sent some pretty supportive signs before leaving Washington, D.C.," said Jeremy Empol, vice president of federal government affairs for the Leagues.
"The August recess is traditionally when Congress is at home with constituents," Empol said. "The congressional delegations for California and Nevada were pretty busy over the past few weeks."
Even as the tax fight remains the industry's top issue, the Leagues are monitoring other pro-credit union legislation that California and Nevada credit unions have so ardently advocated for over the past year. Before departing Capitol Hill, Sen. Dianne Feinstein, D-CA, co-sponsored S.968, the member business lending bill.
On the House side, freshman Rep. Doug LaMalfa, R-CA, became California’s 35th member (out of 53) to co-sponsor H.R. 688, the House companion to S.968. Additionally, Reps. Tom McClintock, R-CA, and Dina Titus, D-NV, co-sponsored H.R. 719—legislation authorizing supplemental capital for credit unions.
"All of these successes are important," Empol said. "However, with the threat of credit union taxation looming in the halls of Congress, the Leagues’ government affairs team is leaving no stone unturned. The 'Don’t Tax My Credit Union' campaign will really light up when Congress returns, as the first tax reform bill is slated for consideration in the House Ways and Means Committee sometime in October."
He added: "Our credit unions are participating in district meetings, town halls, 'Congress on Your Corner' events, and at every other opportunity to get in front of members of Congress during this recess."
The August recess will culminate with the Leagues’ "Hike the Hill" on Sept. 9-11, which is the first week Congress reconvenes in Washington, D.C.
CUs TESTIFY ON FIN. LITERACY updated
02/25/15 10:50 AM
Nat'l. CU Foundation Speaks at FLEC
Gigi Hyland, executive director of the National Credit Union Foundation toured the movement's dedication to youth financial literacy today in a presentation to the U.S. Treasury's Financial Literacy Education Commission (FLEC).
WINE AUCTION RAISES RECORD AMOUNT updated
02/24/15 10:27 AM
More Than $1 Million for Children’s Hospitals
More than $1 million was raised for 11 Children’s Miracle Network Hospitals in California and Nevada during the annual Credit Unions for Kids Wine Auction last Friday night—a record amount in the event’s 10-year history.
REACH INNOVATION GROUP KICKS OFF updated
02/23/15 03:15 PM
Two-Day Discovery Experience
The California and Nevada Credit Union Leagues’ REACH Innovation Group officially launched last week with a two-day experiential learning session, immersing the 17 participants in the Filene Method of Innovation.
CONGRESSMEN VISIT CA, NV CU LEADERS updated
02/23/15 01:53 PM
Plus, Nevada HOA Super Lien Update
Two members of Congress visited credit unions in California and Nevada last week during the President’s Day district work period.
NCUA APPROVES 'SMALL CU' PROPOSAL updated
02/20/15 03:17 PM
Plus: Reg Burden Examples Needed
A proposal to amend the Regulatory Flexibility Act (RFA) definition of “small entity” was approved during last week’s National Credit Union Administration (NCUA) board meeting, which would increase the asset threshold definition of “small” federally-insured credit unions from $50 million to $100 million.
CUNA PLEDGES $1M TO MUSEUM updated
02/18/15 04:23 PM
Sponsors ‘Legacy Campaign’
The Credit Union National Association (CUNA) has pledged $1 million toward America’s Credit Union Museum Legacy Capital Campaign to help ensure the rich history of the credit union system is preserved.
LONGTIME CU LEADER PASSES updated
02/17/15 10:41 AM
Larry Sharp—Advocate and Volunteer
Longtime credit union advocate and former Arrowhead Credit Union CEO Larry Sharp passed away on Monday morning, leaving a 45-year legacy of volunteerism and leadership within the California credit union movement and the local Inland Empire community. He was 72.
CO-OP TO BUY COVERA SOLUTIONS, INC. updated
02/13/15 02:11 PM
Enters Agreement with NY CU Assoc.
California-based CO-OP Financial Services has signed a letter of intent with the New York Credit Union Association (NYCUA) to purchase the association's subsidiary, Covera Solutions, Inc. The purchase is expected to be completed by the end of the first quarter. Covera provides 248 credit unions with credit, debit, ATM, and prepaid cards solutions.
NEVADA CHAIRMAN ADDRESSES COMMITTEE updated
02/12/15 10:44 AM
Urges Reducing Reg., Leg. Burden
During a hearing in front of the Senate Banking Committee last week, Nevada Credit Union League Chairman and Greater Nevada CU CEO Wally Murray addressed 191 regulatory changes handed down to financial institutions from three dozen federal agencies since January 2008.
CO-OP RE-LAUNCHES MOBILE BANKING APP updated
02/11/15 09:09 AM
P2P Payments, Remote Check Deposit
CO-OP Financial Services is re-launching CO-OP Mobile, its mobile banking application, which now features optional real-time, person-to-person payments, and remote check deposit.
CUs POST IMPRESSIVE GAINS IN 2014 updated
02/09/15 10:20 AM
Membership, Loan Portfolios Up
In 2014, the credit union industry experienced impressive membership and operational success, suggesting Americans are starting to recognize the value proposition of credit unions and are utilizing their products and services.
CEO TO TESTIFY ON BANKING COMMITTEE updated
02/09/15 02:06 PM
Regulatory Relief, MBL, Supplemental Capital
Wally Murray—chairman of the Nevada Credit Union League and CEO of Greater Nevada CU—will be testifying at a hearing before the U.S. Senate Banking Committee on regulatory relief for credit unions this coming Thursday morning.
NV LEADERS MEET WITH STATE LAWMAKERS updated
02/09/15 01:33 PM
HOA Lien Foreclosures Discussed
Delegates from credit unions throughout Nevada descended upon the state capitol in Carson City on Feb. 4 for the Nevada Credit Union League’s 2015 Government Relations Rally.
CATALYST: PARTICIPATIONS CLEAR 100M updated
02/06/15 11:55 AM
California CUs Included in Deals
Since launching earlier in 2014, the Catalyst Corporate FCU loan participation program has helped 41 credit unions buy and sell more than $100 million in loans, closing five deals in less than one year.
LEAGUE OVERDRAFT SURVEY POSTED updated
02/05/15 11:38 AM
View Results and Final Report
During CEO roundtable discussions last summer, it was decided the California and Nevada Credit Union Leagues must take a proactive approach regarding likely rulemaking by the Consumer Financial Protection Bureau (CFPB) on overdraft programs.
OIL'S DECLINE PUTS CUs ON THE ALERT updated
02/04/15 02:09 PM
California Members Face Varying Impact
Credit unions headquartered in the heart of California’s largest oil-producing counties are bracing for members in need of financial assistance as the recent spill in oil prices puts a dent in local commerce and employment.
RMJ CREATES NEW ADVISORY COMMITTEE updated
02/03/15 09:19 AM
Plus, Designation of Excellence for CUs
The Richard Myles Johnson (RMJ) Foundation has a new advisory committee that will provide advice, guidance, and active support of the Foundation’s initiatives, including Bite of Reality—a hands-on simulation program that teaches budgeting skills to young people.
WORLD COUNCIL YOUNG CU PEOPLE updated
02/02/15 03:25 PM
Nominate a Professional Today
The World Council of Credit Unions is now accepting nominations for the World Council Young Credit Union People (WYCUP) scholarship program, an international networking and educational opportunity for promising credit union leaders.
CLARK COUNTY CU CEO TO RETIRE updated
01/29/15 10:54 AM
Wayne Tew Served 29 Years at CU
Clark County CU President/CEO and former Chairman of the Nevada Credit Union League Wayne Tew plans to retire this summer after 29 years with the credit union.
RATE HIKE UNLIKELY BEFORE MID-2015 updated
01/29/15 08:38 AM
Fed Watching Economic Developments
California and Nevada credit unions are cautiously keeping an eye on 2015 interest rates, and some are expecting short-term rates to increase this summer. Economists suspect the Fed is waiting to see how inflation and the global economy respond to recent shaky periods before making a decision.
'APPLE PAY' EXPANDS IN CALIFORNIA updated
01/28/15 10:07 AM
CU Leaders Discuss Member Adoption
Apple Pay will soon be in the hands of more California credit union members—this time at KeyPoint Credit Union in Santa Clara, CA.
ACCEPTING APPS: CU ADVISORY COUNCIL updated
01/27/15 11:00 AM
Eight Seats Vacant in Fall 2015
The Consumer Financial Protection Bureau (CFPB) is accepting applications for membership on its Credit Union Advisory Council and inviting individuals who can provide the bureau with guidance as it carries out its work.
CONGRESSMAN VISITS TRAVIS CU LEADERS updated
01/27/15 10:39 AM
DeSaulnier Makes it a Top Priority
As first reported on the California and Nevada Credit Union Leagues’ Advocacy Blog, newly sworn-in Rep. Mark DeSaulnier, D-CA, attended a district meeting at Travis CU on Jan. 23.
CLARK COUNTY CU AWARDS DIVIDENDS updated
01/22/15 02:07 PM
$2.7 Million to 34,000 Members
For Clark County CU, 2014 was a successful year as the credit union closed out with a healthy net worth ratio of 11.77 percent and recorded an annualized net income of nearly $12.3 million. This afforded the credit union to award a whopping $2.7 million in bonus dividends to nearly 34,000 members. Each bonus averages $79 per member, with the highest single bonus totaling just more than $10,000.