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CURRENT Newsletter | December 12, 2023

12/12/2023

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Hampton Roads Legislative Reception Set for Dec. 14; Reps. Scott, Kiggans Expected to Attend

We’re excited to announce a Legislative Reception in Greater Hampton Roads, with Congressman Bobby Scott (D-3rd), Congresswoman Jennifer Kiggans (R-2nd), and 11 state legislators expected to attend! Join us on Dec. 14 at ABNB Federal Credit Union (129 West Little Creek Rd., Norfolk, 23505) as we welcome lawmakers and local officials. This is a wonderful opportunity to meet with lawmakers in preparation for a busy 2024 General Assembly. While attendance is free, we do ask that you RSVP by noon on Dec. 13.

League Call-In and Dialogue: Archived Webinar Available

League President/CEO Carrie Hunt today hosted our virtual membership meeting, noting a number of new League services in the works for 2024, the upcoming General Assembly, and a busy legislative and regulatory agenda at the federal level.

League Offers Archived Video of Dec. 6 Compliance Roundtable

Your League hosted its 4th quarter Compliance Roundtable on Dec. 6. The archived webinar and other resources are now available. Key topics covered include CFPB Section 1071 Data Collection Updates; Cyber Incident Reporting – Ongoing Operations Incident; Employee Retention Credit; and IRS Delays Income Reporting Changes.

Homebase CU, League Meet with Del. Carrie Coyner

Del. Carrie Coyner (R-62) visited Homebase Credit Union today to discuss legislative priorities for the upcoming session and the challenges credit unions face. Staff from Homebase CU shared details about the process of opening a new branch in Chester, scams targeting elderly members and ways credit unions can assist those members, the increased risk of fraud faced by financial institutions, and Homebase’s efforts to improve financial education.

NCUA Board Meeting Dec. 14 with Agency Budget, OTR Methodology on Agenda

The NCUA has a full agenda for its Dec. 14 meeting, with a request for comment on its Overhead Transfer Rate (OTR) methodology and a vote on the agency's 2024-2025 budget slated for consideration. League President/CEO Carrie Hunt testified last month during the National Credit Union Administration’s public hearing on the agency’s 2024-2025 budget proposal. During her testimony, Hunt noted three key areas of concern: cybersecurity, the agency’s allocation of resources as it relates to serving credit unions of every size, and increased scrutiny on consumer compliance.

CU Day at the General Assembly: Our Premier State-Level Advocacy Event Returns Jan. 18

Credit Union Day at the Virginia General Assembly returns 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 credit union-backed legislation.

League Leadership Development Institute: Registration Deadline Dec. 15 for 2024 Program

The Virginia League is excited to announce a partnership that delivers C-Suite level leadership development training for credit union professionals. We've partnered with the Carolinas Credit Union League to offer their Leadership Development Institute (LDI) to Virginia’s credit unions. The LDI empowers current and rising credit union leaders with modern strategies for developing leadership and critical thinking skills. Note: Registration for the 2024 course closes this Friday (Dec. 15)!

In Other News …

Tags: Jennifer Kiggan, Bobby Scott, Legislative Reception, advocacy, Credit Union Day, NCUA, National Credit Union Administration; compliance, Leadership Development Institute, LDI, General Assembly, Congress, Carrie Coyner

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