|David Creager, Manager of Grassroots Advocacy for the California and Nevada Credit Union Leagues|
'DON'T TAX' CAMPAIGN: PUSH CONTINUES
updated 01/23/14 09:54 AM
February a Key Month to Reach Out
As credit unions enter 2014, one of last year’s primary challenges still remains. The threat of taxation, unfortunately, has not passed with the New Year.
Rather, key members of the House and Senate have renewed calls to pass comprehensive tax reform. We anticipate the first draft of a tax-reform package before spring of this year. While it is unlikely this package will pass in entirety during this calendar year, this legislation will become the starting point for future congressional efforts to reform the tax code. Negative outcomes for credit unions in this first series of tax bills will force credit unions into a long, drawn-out tax fight where defense will be our only legislative priority.
As long as the threat to the credit union tax status remains, so must our efforts to protect it. To that end, credit unions all across the country are being asked to re-engage their membership this year through the Don’t Tax My Credit Union campaign.
Last year was a successful year for the California and Nevada Credit Union Leagues’ grassroots program. Collectively, the Leagues’ member credit unions generated 285,000 contacts to Congress. Sixty-eight California and Nevada credit unions directly e-mailed their members asking them to visit Connect for the Cause and contact Congress.
Nationally, credit unions sent 1.25 million letters in support of the credit union tax status. This means California and Nevada credit unions accounted for about 23 percent of all letters sent to Congress in 2013. By any standard, that is a successful year.
This year, however, we must continue the fight—and hopefully finish the job.
Less than eight months ago when credit unions began the task of fighting for congressional support, the Leagues set a goal of generating 500,000 contacts to Congress. We must now reach that goal. Your help and engagement is needed. Credit unions that have reached out to their members should consider re-engaging their members, and every credit union who has not yet directly requested their member’s support should now do so.
In about a month, hundreds of credit union activists will descend upon Washington, D.C. for the Credit Union National Association’s Governmental Affairs Conference (GAC). Part of that event will be a massive lobbying effort capped off by hundreds of credit union activists “hiking the hill” and asking for Congress’s support face to face.
Therefore, this next month becomes extra important. If we flood Congress with letters, tweets, and phone calls, then our message will resonate even that much louder.
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.
'IT WAS THE RIGHT THING TO DO' updated
05/17/16 10:16 AM
CFO Professional of the Year
Most new ideas aren’t necessarily new, according to Susan Gruber. They are old concepts with a new twist, and they can have great potential.
WHY ONE SMALL CU RANKS BIG IN TECH updated
05/09/16 08:48 PM
Behind United Catholics FCU
No one was perhaps more surprised to learn her credit union ranked No. 1 on MagnifyMoney’s most recently published list of “most digitally savvy” U.S. credit unions than Lucy Sloan.
FINANCIAL CAPABILITY COLLOQUIUM updated
05/03/16 11:38 AM
Measuring Credit Unions' Impact
Nearly 30 leaders and professionals came together last week at the first Financial Capability Colloquium to discuss how to collectively and effectively measure the individual financial literacy efforts that their credit unions and organizations routinely implement within their communities, and how to use these measurements to tell a powerful story that will resonate with the public.
METSGER APPOINTED NCUA BOARD CHAIR updated
05/02/16 05:17 PM
Plus, CFPB on Arbitration and TRID
President Barack Obama has appointed National Credit Union Administration (NCUA) Vice Chairman Rick Metsger to be the ninth chairman of the NCUA Board of Directors, succeeding outgoing Board Chairman Debbie Matz, whose service ended April 30.
TV INVESTIGATION SPOTLIGHTS 'PACE' updated
05/02/16 02:39 PM
Protecting Consumers Becomes Crucial
A TV news station in Los Angeles has captured a clear example of consumer protection issues stemming from the “PACE” lending program (Property Assessed Clean Energy) in just one instance of how it is proving financially harmful to homeowners and credit union members across California.
'PACE' PASSES FIRST STATE COMMITTEE updated
04/26/16 08:48 AM
Congressman Sherman Gives Support
In a rare instance of federal and state legislative involvement, Assembly Bill 2693, authored by Assemblyman Matt Dababneh (D-Encino), received two significant boosts yesterday.
INDUSTRY LEADER AND MENTOR PASSES updated
04/25/16 12:43 PM
O'Rourke 'Will be Missed'
Gene O’Rourke—who left a 40-year legacy of helping shape and place leaders in the credit union industry throughout California and the nation—died this past Friday. He was 70.
LEAGUES COMMENT ON OTR, FEE METHODS updated
04/25/16 04:12 PM
Plus, NCUA's 2 New Proposals
The California and Nevada Credit Union Leagues have told the National Credit Union Administration (NCUA) that federally insured state-chartered credit unions (FISCUs) and federally chartered credit unions (FCUs) should be treated equitably in their comment letter on the Overhead Transfer Rate (OTR) and Operating Fee Schedule Methodologies.
REG COMMITTEE RESPONDS TO CORDRAY updated
04/19/16 09:31 AM
CU Leaders Express Opinions
In Consumer Financial Protection Bureau Director (CFPB) Richard Cordrary’s recent response to a congressional letter that calls on him to fully utilize the bureau’s exemption authority for community financial institutions, Cordray cites examples of how the bureau has already used this authority.
NCUA SELECTS NEW REGION V DIRECTOR updated
04/19/16 07:31 AM
Plus: Proposed Rules; Comments Needed
The National Credit Union Administration (NCUA) has selected Cherie Freed as regional director of the agency’s Region V office in Tempe, AZ. She will replace current Regional Director Elizabeth Whitehead, who will retire in May after 28 years of service.
AUTOS MAY PEAK AT 18 MILLION IN 2017 updated
04/19/16 05:40 PM
Decisive Moment for Credit Unions
Credit unions’ speedy, record breaking growth in auto lending might peel even more rubber in 2017. But how will they handle a plateau and subsequent drop in sales when the current business cycle runs its course?
RESPECTED ECONOMIST DIES AT 63 updated
04/14/16 04:38 PM
Esmael Adibi on SchoolsFirst Board
A beloved and well-respected forecaster on the California economy over the past 38 years—as well as credit union board member of SchoolsFirst FCU—died of complications from a stroke on April 8.
ADVOCACY IN FULL SWING AFTER 'GRR' updated
04/12/16 08:51 AM
Upcoming Committee Meeting on PACE
Credit union advocates may have left Sacramento last week after the 2016 California Government Relations Rally (GRR) came to a close, but state legislative efforts on a number of issues remain in full swing as the industry continues fighting for its members.
NV CUs SPECIFIED IN SENATE HEARING updated
04/11/16 01:50 PM
More Action is Forthcoming
In the California and Nevada Credit Union Leagues’ continual push for the Consumer Financial Protection Bureau (CFPB) to fully use its exemption authority for credit unions, Nevada credit unions were specifically discussed by Sen. Dean Heller (R-NV) during the first of two hearings last week regarding the CFPB’s impact.
MODERNIZATION BILL MOVES TO ASSEMBLY updated
04/05/16 09:24 AM
CA Gov. Relations Rally Kicks Off
Sacramento is front and center for credit union advocacy this week as two powerful events unfold that are integral to the cause of the industry and its members across California: the state-charter modernization bill and the 2016 California Government Relations Rally (GRR).
SACTOWN RAISES NEARLY $200K FOR CMN updated
04/05/16 09:03 AM
Benefits CA/NV Children's Hospitals
The sixth annual Credit Union SacTown Run—which took place Sunday, April 3 in downtown Sacramento, CA—raised nearly $200,000 for Children’s Miracle Network hospitals in California and Nevada. The event was sponsored by CU Miracle Day, Inc. along with 69 credit unions and credit union businesses including the California and Nevada Credit Union Leagues.
CFO: INSIGHT ON FASB's 'TRG' MEETING updated
04/05/16 08:54 AM
Current Expected Credit Loss
On April 1, the Financial Accounting Standards Board (FASB) met with its Transition Resource Group (TRG) on the proposed accounting standards update (ASU) for credit losses, which would implement a forward-looking Current Expected Credit Loss (CECL) model.
EVENT WILL LAUNCH DYNAMIC DISCUSSION updated
04/04/16 04:24 PM
'Your Economy, Your Credit Union'
Credit unions can join their peers from across California and Nevada to engage with three renowned experts on June 16 during "Your Economy—Your Credit Union: 2017 and Beyond," a first event of its kind!
CUs PREPARE TO UNITE IN SACRAMENTO updated
03/29/16 09:31 AM
Register for 'GRR' Today
All credit union advocates are needed in Sacramento as momentum builds toward the 2016 California Government Relations Rally (GRR) from April 4-5, where executives, managers, and board volunteers will discuss important topics with state lawmakers to help protect credit unions and allow their members to thrive.
GROUP TO PROVIDE FEEDBACK ON 'CECL' updated
03/29/16 08:11 AM
Two CUs Part of Discussion
Two credit union CFOs will be a part of a key meeting this week leading up to the Financial Accounting Standards Board’s (FASB) expected mid-2016 decision on its proposed accounting standards update (ASU) on credit-losses standard.
FOUNDATION RECEIVES DIAMOND AWARDS updated
03/25/16 10:49 AM
Efforts Leveraging Video & Financial
The National Credit Union Foundation (the Foundation) was honored with two Diamond Awards—awards that recognize outstanding marketing and business development achievements in the credit union industry.