(please click ad for more information)

Current News

Relevant Information—For You, By You
Rep. Jerry McNerney D-CA (Stockton)

STOCKTON CONGRESSMAN SUPPORTS CUs
updated 01/09/14 04:09 PM
Last Official Act of 2013
As Congress closed the door on 2013, Rep. Jerry McNerney, D-CA (Stockton), became the latest Californian to co-sponsor H.R. 688, legislation that would raise the member business lending cap for credit unions.

McNerney joins 37 of his colleagues from California in vocally supporting this necessary and long-sought charter enhancement for credit unions. While legislation, in general, moved at a snail’s pace in 2013, there was plenty of activity for credit unions in Congress.

“Continuing to gain co-sponsors is what we need to do to push our agenda forward,” said Jeremy Empol, vice president of federal government affairs for the California and Nevada Credit Union Leagues. “While California and Nevada are helping lead the nation in bill co-sponsors, we will continue to engage other states to activate their congressional delegations.”

California now has 38 co-sponsors (including author Rep. Ed Royce, R-CA) of the state’s 53 representatives in Congress. California also has Sens. Barbara Boxer (D-CA) and Dianne Feinstein (D-CA) as co-sponsors of the Senate version. Nevada has all four of its representatives as co-sponsors.

A Look Ahead
Congress will reconvene the week of Jan. 6. Legislators must hit the ground running with the mid-term 2014 elections only 11 months away.

In recent weeks leading to the 2013 session’s close, the House of Representatives took two steps forward for credit union regulatory relief by holding a hearing on H.R. 3584 (which would grant privately insured credit unions access to the Federal Home Loan Banks) and passing H.R. 3468, the Credit Union Share Insurance Fund Parity Act. H.R. 3584 now awaits passage by the House Financial Services Committee, while H.R. 3468 awaits passage by the full House.

These bills—in addition to preservation of the credit union tax status, reform of Government Sponsored Enterprises (GSEs), and passage of other regulatory relief measures—will be on the Leagues’ agenda at the 2014 CUNA Governmental Affairs Conference, which begins Feb. 24.

                           
print   email   share   share   share
                         

CONGRESS DRAFTS RBC COMMENTS TO NCUA updated 04/23/14 03:41 PM
Signatures Being Gathered
In the latest effort to address the National Credit Union Administration’s (NCUA) pending rule on risk-based capital, members of Congress are now interested in sending their own comment letter.

YOUTH FLOCK TO FIN. LITERACY EVENTS updated 04/22/14 12:07 PM
CUs Catch the 'Save Wave'
Credit unions in California and Nevada are celebrating National Financial Literacy Month and National Credit Union Youth Week™ (April 22-27) with a number of programs and events.

CO-OP SUPPORTS 'SHOP FOR MIRACLES' updated 04/22/14 11:02 AM
Fundraising Program for CMN
CO-OP Financial Services is supporting Shop for Miracles—a one-day charitable program to raise funds for Children’s Miracle Network (CMN) Hospitals—through its Miracle Match Program.

JOBS, WAGES, CONFIDENCE: THE FUTURE updated 04/21/14 12:56 PM
Silver Linings for CA, NV
People borrow money for many purposes. Buying a home, remodeling, purchasing a new car, vacations, and weddings come to mind.