Blog
- Small Credit Unions: Opportunities to Attend, Participate in Upcoming GAC
January 19, 2024Small credit unions ($120 million or less in assets): You can participate at no charge in the GAC Small Credit Union Roundtable, slated for Sunday, March 3 ( 1 p.m.-3:30 p.m.). To register, follow the GAC registration link, then select the roundtable. It’s essentially a no-cost add-on to your registration.
- Credit Union Day at the General Assembly: Advocates Lobby for CU Legislation; Educate Lawmakers About CU Difference
January 18, 2024130 credit union advocates from across the Commonwealth traveled to Richmond today in support of credit union legislation and to educate lawmakers about the “Credit Union Difference.”
- House, Senate Pass Short-Term Bill Averting Government Shutdown Until March
January 18, 2024Congress on Thursday passed legislation to keep the federal government open into March, approving the third stopgap spending bill in four months. Your League has been engaged with federal lawmakers for months as Congress struggles to agree on long-term government funding plans.
- Senate Takes First Critical Step to Avoid Partial Government Shutdown This Week
January 17, 2024The Senate overcame its first procedural hurdle Tuesday night to ward off a partial shutdown on Saturday, advancing another two-tiered stopgap spending bill that would kick government funding deadlines into March. Your League remains engaged with federal lawmakers, noting in all our communication to lawmakers and during recent meetings with our delegation that a shutdown would also pose a significant challenge for our credit unions and their members.
- League Notes CFPB's 'Large Institution' Overdraft Proposal Endangers Such Programs at All Credit Unions
January 17, 2024Today, the CFPB issued the Overdraft Notice of Proposed Rulemaking (Overdraft NPRM), which proposes to update regulations that apply to overdraft credit offered by certain financial institutions with more than $10 billion in assets (referred to as “very large financial institutions”) by amending Regulation E and Regulation Z. "Your League is working its way through the 200-plus page proposed rule, but our initial take is this: While the rule targets institutions with more than $10 billion in assets, the realities of the marketplace mean that overdraft programs at all credit unions are endangered," said League President/CEO Carrie Hunt.
- Still Time to RSVP: Credit Union Day at the General Assembly Jan. 18
January 16, 2024Credit Union Day at the Virginia General Assembly is this Thursday (Jan. 18), and we need you in Richmond! We're looking for at least 200 credit union champions to join us as we educate state lawmakers about the "Credit Union Difference" and fight for HB 1205, credit union-backed legislation.
- League Urging Lawmakers to Address Looming Partial Shutdown of Federal Government
January 16, 2024Your League remains engaged with federal lawmakers as Congress finds itself facing a partial government shutdown on Friday, absent new action to fund the government. "While credit unions will step up to aid members in the event of a partial government shutdown, we continue to actively engage with lawmakers in hopes such a scenario can be avoided," said League President/CEO Carrie Hunt. "We've made it clear in all our communication to lawmakers and during recent meetings with our delegation that a shutdown would also pose a significant challenge for our credit unions."
- New NCUA Board Member Otsuka Will Have First Official Board Meeting Thursday
January 16, 2024The NCUA Board will meet on Jan. 18 to consider two items: a Board briefing on NCUA’s 2024-2026 Diversity, Equity, Inclusion, and Accessibility strategic plan and a discussion of NCUA’s 2024 Annual Performance Plan. This will be the first official meeting for new Board member Tanya Otsuka, who was sworn in earlier this month.
- League’s Advocacy Work in High Gear as State, Federal Legislatures Back in Session
January 12, 2024Credit unions and the League are working on issues and legislation at both the state and federal levels this week, with the General Assembly session having kicked off Wednesday and Congress facing a partial government shutdown next week.
- 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!