Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- League Closely Watching NCUA Board's Discussion on Interest Rate Ceiling; Urges Agency to 'Modernize' Approach to Interest Cap
January 25, 2023Your League will be monitoring tomorrow’s NCUA Board Meeting, particularly the Board’s planned discussion of the interest rate ceiling set for federal credit unions. “We worry that the failure of the NCUA Board to act in raising the interest rate ceiling poses an unnecessary risk to federal credit unions and their earnings, which would directly affect capital, growth and liquidity,” said League President/CEO Carrie Hunt.
- Zest AI Loves Credit Unions ... and They're Ready to Prove It By Helping You With Community Projects!
January 25, 2023We understand that credit unions not only serve their members financially, they also strive to support their communities in infinite ways. Our goal is to shine a spotlight on these efforts. Zest would like to highlight the amazing service projects credit unions are doing. This would involve Zest employees coming on-site to help. We really want to get in there with the rubber gloves and all.
- League’s Blau Testifies Before State Senate Committee in Support of CDFI Measure
January 20, 2023League Chief Advocacy Officer JT Blau testified Wednesday in support of a CDFI bill before a state Senate committee. SB1320 codifies the Virginia Community Development Financial Institutions Fund, originally created in the 2021 Appropriation Act, and establishes the Virginia Community Development Financial Institutions Program to carry out the purposes of the Fund.
- Credit Union Day 2023: CUs Meet with Lawmakers In Support of Legislation; Showcase 'Credit Union Difference'
January 19, 2023More than 170 credit union advocates gathered in Richmond today for Credit Union Day at the General Assembly, lobbying for continued support of HB1727, credit unions' digital assets custody services bill, and showcasing the "Credit Union Difference" by sharing our service to members and our communities.
- Aaron Rouse Sworn into Virginia Senate
January 18, 2023Aaron Rouse was sworn into the Virginia Senate Wednesday, filling an open seat that gives Democrats a 22-18 majority in the chamber. State Sen. Rouse (D-Virginia Beach) defeated Republican Kevin Adams in a Jan. 10 special election for the state Senate seat once held by Rep. Jen Kiggans (R-Va.) before her congressional victory in the 2022 midterms.
- HB1727, CUs' Digital Asset Custody Services Bill, Passes the House
January 17, 2023HB1727, our credit union bill, had its third and final reading on the House floor today, meaning it has officially passed the chamber and moves to the state Senate for consideration.
- Credit Union Day at the General Assembly: 170 CU Advocates Joining Us at the Capitol on Thursday!
January 17, 2023More than 170 credit union advocates representing 38 credit unions from across the Commonwealth will gather at the state Capitol on Thursday for Credit Union Day at the General Assembly.
- CU's Digital Asset Custody Services Bill Passes House Committee in Unanimous Vote
January 13, 2023Credit unions won a victory Thursday, with our virtual currency custodian bill (HB1727) reporting out of the House Commerce and Energy Committee on a unanimous 22-to-0 vote. It now moves to the House floor for consideration. Passage in the House will send the measure to the state Senate for consideration.
- The 2023 Risk Landscape
January 12, 2023Amanda Parkhill, deputy director at NCUA’s office of examination and insurance, explained how the threat of a recession and continued economic challenges will affect key risk factors in early 2023 during CUNA’s 2022 Supervisory Committee and Internal Audit Conference in Las Vegas.
- CUNA Meets with Congressional Leaders Over CDFI Application Concerns
January 12, 2023CUNA and other organizations met with House Financial Services and Senate Banking, Housing, and Urban Affairs leadership staff Tuesday to discuss proposed changes to the Community Financial Development Institution (CDFI) Fund certification application.