Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- CALL TO ACTION: Write State Lawmakers Today in Support of Credit Union Legislation
January 11, 2024Take action today in support of our newly introduced legislation in the Virginia General Assembly. We're lobbying for a measure to provide credit unions with the authority to hold public deposits (HB 1205). This authority would allow public entities – city and county governments and their various subdivisions, for example – to deposit public funds at local credit unions, providing greater choice, boosting competition, and benefitting taxpayers by providing better rates on deposits. Please encourage staff, officials and members to contact their lawmakers, as well!
- League at Work as General Assembly Convenes; Credit Union Legislation Introduced
January 10, 2024The League was on site today at the General Assembly Building and Capitol as the Virginia legislature convened for its 2024 session. The League advocacy team is combing through the roughly 1,900 bills already introduced, with more to follow in the coming days. HB 1205, our legislation that would authorize state- and federally-chartered credit unions to hold public deposits, will likely be referred to the House Commerce and Labor Committee for consideration.
- With Federal Government Shutdown a Possibility, League Engaged with Lawmakers
January 9, 2024Your League is carefully monitoring the situation in Washington and engaging with lawmakers as Congress nears the first of two deadlines to agree on appropriations bills for 2024. We continue to make the point that a shutdown will harm credit union members, the regional economy, and credit unions themselves.
- With Months of Prep Behind Us, CUs Ready for Busy General Assembly Session
January 9, 2024With a year’s worth of preparation and planning behind us, credit unions are eager to see tomorrow’s start of the 2024 session of the Virginia General Assembly. This promises to be a busy 60-day session that will include consideration of a measure to provide credit unions with the authority to hold public deposits. This authority would allow public entities – city and county governments and their various subdivisions, for example – to deposit public funds at local credit unions, providing greater choice, boosting competition, and benefitting taxpayers by providing better rates on deposits.
- Rep. Rob Wittman Signs on as Co-Sponsor of Veterans Members Business Loan Act
January 9, 2024Following credit union and League advocacy efforts, Rep. Rob Wittman (R-1st) has signed on to H.R. 4867 (Veterans Members Business Loan Act) as a co-sponsor. At present, the bill has garnered the support of 18 House members in a show of bipartisan support.
- League Eager to Work on CU Issues with New NCUA Board Member Tanya Otsuka
January 8, 2024The Honorable Tanya Otsuka became the 25th Board Member of the National Credit Union Administration following a private swearing-in ceremony held at the agency’s Alexandria, Virginia, headquarters today. "The Virginia Credit Union League congratulates Ms. Otsuka and looks forward to working with her as a member of the NCUA board to ensure credit unions have the tools they need to serve members," said League President/CEO Carrie Hunt. "We are excited to see her bring her talents to the credit union industry."
- FinCEN Begins Accepting Beneficial Ownership Reports; League Notes Issues for CUs
January 8, 2024The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has started to accept beneficial ownership information reports, in accordance with the Corporate Transparency Act. Your League recently published a blog post covering credit union compliance issues related to BOI.
- League’s Carrie Hunt Leads Effort in Support of Green-Lending Initiative for CUs
January 8, 2024League President/CEO Carrie Hunt assisted in leading an effort today to help secure funding from the Environmental Protection Agency for green-lending initiatives at Virginia-based credit unions, as well as nationally.
- Carrie Hunt Departing Virginia Credit Union League to Serve as Chief Advocacy Officer for America's Credit Unions
December 21, 2023The Virginia Credit Union League Board of Directors announced today that President/CEO Carrie Hunt will be leaving the League to serve as Chief Advocacy Officer for America’s Credit Unions, effective March 1, 2024.
- Regulatory Compliance Weekly Roundup: December 21, 2023
December 21, 2023Happy…Thursday everyone! With the holidays upon us, the weekly roundup is one day early this week! Here's a quick overview of some of the headlines from the week in regulatory compliance.