CURRENT Newsletter | June 27, 2023

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CUs, League Hosting Legislative Receptions Beginning with June 28 Event in Danville

Your League and credit unions will host a series of legislative receptions across the Commonwealth, beginning June 28 (in Danville), with additional events scheduled for August. Join us in advocating for your credit union and the Virginia credit union system!

June 30 Entry Deadline for Social Responsibility Awards

Every credit union is engaged with its community at some level and your League and CUNA want to recognize and honor your good work through the Dora Maxwell Social Responsibility Community Service Award, Louise Herring Philosophy-in-Action Member Service Award, and the Desjardins Financial Education Awards. The deadline for award submissions is June 30, 2023.

TRGroup, Virginia League Plan Compliance, HR Conferences This September in Nashville

Your League is excited to participate in the TRGroup Compliance and Risk Management Conference & the TRGroup Human Resources Conference, being held Sept. 27 and 28 in Nashville, TN. These conferences will showcase a full range of informative, educational sessions on critical, timely issues related to compliance, risk management, cyber security, and Human Resources.

Richmond-Area EPN Event Slated for July 19

The League’s Greater Richmond Emerging Professionals Network is hosting a networking event on July 19, starting at 6 p.m. Location: Trapezium Brewery Co. (Petersburg). The event is free to attend, but we ask that you register to aid us in planning.

June 28 CFPB Webinar: Institutional Coverage under the Small Business Lending Rule

On June 28, CFPB staff will host a webinar to provide information to help financial institutions determine whether they are covered financial institutions for purposes of complying with the small business lending rule. This will include how to determine if transactions are “covered credit transactions” and whether businesses are “small businesses.”

Reminder: 2023 CDRLF Grant Round Closes June 30

Low-income and MDI credit unions have until June 30 to submit applications for Community Development Revolving Loan Fund grants. All the necessary information a credit union needs to apply is available on the Grants page of the agency’s website, NCUA.gov.

Simplified CECL Tool Updated for June 30, 2023

The National Credit Union Administration released the June 2023 update of its Simplified CECL Tool this week. The update includes the latest life-of-loan, or Weighted Average Remaining Maturity, factors and additional minor enhancements.

In Other News ...

• Langley FCU Announces 2023 Jean M. Yokum Scholarship Winners
• Vizo Financial Announces Board Officers Following 2023 Annual Meeting
• Leagues, CUNA to Co-Host Small CU Conference in September; Early Bird Discount Ends July 14!
• Registration Open for NCUA DEI Summit Nov. 1-2
• Economic Update Covers Macroeconomic, Credit Union Forecast
• CFPB is Extending the Deadline for Comments about Data Brokers