League News Releases
- Comments on Federal Reserve Interchange Proposal Due Feb. 12; League Will Oppose Changes to Current Interchange System
November 13, 2023The Federal Reserve published its interchange proposal Tuesday in the Federal Register with a comment deadline of Feb. 12. The Fed Board of Governors proposed the changes at its Oct. 25 meeting. Credit unions strongly oppose changes to the current interchange system and your League will voice its opposition to the Federal Reserve Board proposal.
- League Celebrates Winners of 2023 Social Responsibility Awards, Outstanding CU Leaders
November 9, 2023The Virginia Credit Union League is pleased to announce the winners of its 2023 Social Responsibility & Member Service Awards. Each year, the League and the Credit Union National Association sponsor four awards competitions to recognize credit unions for their work in financial education, community service and outreach, and excellence in member service.
- League Readies for 2024 General Assembly Following Eventful Election
November 8, 2023The 2023 election and over and mercifully so are the political ads. Democrats have held the Senate and have flipped the House of Delegates, holding at least 21 seats in the Senate and 51 in the House. One race in both the Senate and House are still too close to call and may result in recounts, but regardless of these outcomes Democrats will control both chambers in January.
- League-Partner Ecority Poised to Help CUs Become Nationwide Leaders in Green Lending with $14B+ Grant Application
November 8, 2023A green-lending initiative supported by your League has formally submitted an application in pursuit of funding through the Environmental Protection Agency’s Greenhouse Gas Reduction Fund (GGRF).
- With Commitment to Service & Innovation, TruStage Remains Champion for Commonwealth's Credit Unions
November 7, 2023In today's hyper-competitive business world, you need partners you can trust. For almost 90 years, TruStage has worked tirelessly to deliver products, services and solutions that address the unique needs of credit unions and their members. Your League is proud to partner with TruStage, and while 2024 will undoubtedly hold its share of opportunities and challenges for credit unions, rest assured that TruStage and your League are always in your corner!
- League Showcases CU Service to Veterans Ahead of Senate Banking Hearing
November 3, 2023Your League wrote Sen. Mark Warner on Wednesday to tout credit unions’ good work in supporting servicemembers, veterans and their families. In a letter sent ahead of Thursday’s Senate Banking Committee hearing on financial protections for servicemembers and veterans, the League asked Sen. Warner to remain mindful of credit unions’ continued commitment in this area. We noted the proud history of credit unions here in Virginia that were chartered initially to serve various military bases and servicemembers.
- League President/CEO Carrie Hunt to Testify on NCUA Budget Proposal
November 3, 2023League President/CEO Carrie Hunt will be among the industry stakeholders testifying on the NCUA budget at a public hearing on Nov. 16. The agency will hold a public budget briefing at its Central Office, beginning at 2 p.m. The meeting will be livestreamed on NCUA.gov.
- League President Carrie Hunt Responds to CUs' Approval of CUNA-NAFCU Merger
November 2, 2023The Credit Union National Association and National Association of Federally Insured Credit Unions today announced that member credit unions of both organizations have approved a merger of the two national trade associations. “The coming formation of a new national credit union trade association represents a singular opportunity to leverage the strengths of both CUNA and NAFCU in order to advance our industry,” said League President/CEO Carrie Hunt. “A single national trade association promises dues-paying credit unions operational efficiencies, economy of scale and a unified voice on the advocacy front.”
- Crash the GAC 2024! Applications Must Be Submitted by Nov. 20
October 27, 2023Interested in attending the Governmental Affairs Conference next year as a Crasher? Gain a deeper understanding of our industry's advocacy work and how we showcase the "Credit Union Difference." The GAC is our opportunity to highlight the meaningful work credit unions are doing to improve the financial well-being of their members and communities. Apply to CRASH the GAC 2024 and take your career to the next level! Applications are due no later than Nov. 20.
- League Will Comment on Federal Reserve Board's Proposed Rule for Revision of Debit Interchange Fee Cap
October 25, 2023The Board of Governors of the Federal Reserve (FRB) today proposed a rule that would reduce the debit interchange fee cap contained in Regulation II. “We will carefully examine the Federal Reserve Board’s proposal and submit comments. We know the fraud costs our credit unions are facing continue to mount and we must have fairness in the system,” said League President/CEO Carrie Hunt. “The League remains engaged with policymakers on this issue because we understand the debit interchange fee cap had an impact on every financial institution, not just those issuers with $10 billion or more in assets. We know, too, that the price cap imposed on debit interchange fees is a failed policy that’s had a disastrous impact on the cost and availability of basic banking services, harming low- and moderate-income Americans.”