League News Releases
- League Board Seeks Nominations for Kirsch, Farley Awards
February 13, 2024We are seeking your recommendations for prospective candidates for our annual awards. The Virginia Credit Union League Board will name the winners of this year’s James P. Kirsch Lifetime Achievement Award and Eugene H. Farley Jr. Award of Excellence at the League Annual Meeting in Washington D.C. on May 2, 2024. Nominations are due by March 20, 2024.
- Governance Committee Seeks Candidates for 5 League Board Seats
February 2, 2024The Governance Committee of the Virginia Credit Union League seeks your recommendations for candidates to be nominated for election to the Board of Directors. In 2024, five board seats are open for election.
- Credit Unions' Public Deposit Bill Fails to Advance in House Committee; Measure Dead for This Session
February 1, 2024Credit unions’ public deposits bill – H.B. 1205 – failed to advance in the House Labor and Commerce Committee today on a 13-to-9 vote. The Committee vote kills our bill for this session of the General Assembly. “Although disappointed with today’s vote, we can take some comfort in knowing we did all we could this past year to ensure this long-sought and important legislation received a fair hearing in the General Assembly,” said League President/CEO Carrie Hunt. “Unprecedented turnover in the General Assembly presented us with an opportunity and we seized it. The fight for this legislation enabled us to strengthen relationships with veteran lawmakers and build relationships with newly elected legislators that will pay dividends in the years to come.”
- CUs’ Public Deposits Bill: Your Help Needed!
January 30, 2024Our grassroots efforts to fight for HB 1205, our public deposits bill, continue and we’re urging credit union champions to email lawmakers today in support of the measure.
- League Staff Testifies on 2 Bills Designed to Combat Elder Financial Abuse
January 23, 2024League staff testified this week in support of two bills before the General Assembly that would allow for "trusted contacts" to be added to banking accounts to assist financial institutions in combating the abuse and exploitation of elderly and vulnerable adults.
- 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.
- 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!
- With Federal Government Shutdown a Possibility, League Engaged with Lawmakers
January 9, 2024Your League is carefully monitoring the situation in Washington and engaging with lawmakers as Congress nears the first of two deadlines to agree on appropriations bills for 2024. We continue to make the point that a shutdown will harm credit union members, the regional economy, and credit unions themselves.
- With Months of Prep Behind Us, CUs Ready for Busy General Assembly Session
January 9, 2024With a year’s worth of preparation and planning behind us, credit unions are eager to see tomorrow’s start of the 2024 session of the Virginia General Assembly. This promises to be a busy 60-day session that will include consideration of a measure to provide credit unions with the authority to hold public deposits. 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.
- League Board Seeks Nominations for Kirsch Lifetime Achievement Award
January 9, 2024The Virginia Credit Union League’s Board of Directors is seeking nominations for the James P. Kirsch Lifetime Achievement Award. This prestigious award is given annually to recognize an individual who has made significant contributions to the credit union industry during the course of his or her career. Credit union professionals and officials/volunteers are eligible to receive this award.