League News Releases
- Celebrating Leadership and Advocacy at IGNITE: Farley, Kirsch, and Red Scarf Award Winners
May 9, 2024This year, we present the following awards to remarkable individuals who have demonstrated exceptional leadership and commitment: the Eugene H. Farley Award of Excellence, the James P. Kirsch Lifetime Achievement Award, and the inaugural Red Scarf Award. IGNITE is a cornerstone event for the Virginia Credit Union League, where we take the opportunity to honor those whose efforts have significantly shaped the credit union landscape in Virginia.
- Announcing the 2024 Grant Recipients: Empowering Virginia's Credit Unions
May 9, 2024Your League, in partnership with the Credit Unions Care Foundation of Virginia, is proud to announce the recipients of the 2024 Vizo Financial Empowerment Grants. This year, thirteen outstanding Virginia-based credit unions will share $50,000 in grants dedicated to boosting financial literacy and empowerment across the Commonwealth.
- Reflecting on IGNITE 2024: Insight and Inspiration at The Wharf
May 9, 2024Recap: Last week, the Virginia Credit Union League hosted our much-anticipated annual conference at the scenic InterContinental Washington D.C. Wharf. This event, marking the League's 90th anniversary, brought together over 150 credit union leaders from across Virginia to engage, learn, and network.
- Celebrating Joe Thomas’s Reappointment to the World Council of Credit Unions Board
May 9, 2024We are proud to celebrate Joe Thomas’s reappointment to the World Council of Credit Unions Board through July 2026. Joe Thomas, the seasoned President and CEO of NextMark Credit Union in Fairfax, Virginia, continues to make a significant impact both locally and globally.
- Déjà vu All Over Again: Incoming Proposed Rule on Incentive Compensation
May 6, 2024A few weeks ago, several media outlets began reporting that banking regulators were preparing to re-attempt a rulemaking on incentive compensation. The rulemaking - an outstanding requirement of the 2010 Dodd-Frank Act - had been previously attempted twice but never made it to a final rule. Late last week, a financial regulation newsletter account posted on X/Twitter that the proposed rulemaking could be coming this week.
- The Automation Shift: How AI is Reshaping Entry-Level Finance Jobs
April 25, 2024AI is significantly transforming the financial industry, particularly affecting entry-level positions at major institutions. Here's a balanced look at the evolution of entry-level jobs due to AI, aimed at helping credit unions navigate this technological advance.
- The Job Growth Paradox: Strong Numbers Hide Struggles of Small Businesses
April 25, 2024While overall employment figures show robust job growth, the National Federation of Independent Business (NFIB) has unveiled a contrasting scenario for small businesses. Virginia's credit unions can help local businesses overcome hiring challenges and contribute to a resilient local economy and legislative landscape.
- Trend Analysis: Credit Union Loan Activity in Recent Months
April 25, 2024In Q4 of 2023, we observed significant trends in the loan activities of credit unions based on the NCUA Quarterly Credit Union Data Summary for Q4 2023 and VACUL’s Credit Union Profile for Q4 2023. These reports highlight the ongoing developments and challenges within the credit union sector, providing a clear picture of both national and Virginia-specific dynamics.
- Virginia’s Credit Unions Continue to Be THE Place to Work
April 25, 2024Credit unions across the country are frequently lauded as exemplary workplaces. Virginia’s credit unions, in particular, are prominent on these lists, showcasing their dedication to employee satisfaction and organizational excellence. At the heart of credit union success is a culture that deeply values the voices and contributions of its employees, offering competitive rewards, meaningful work, and a steadfast commitment to personal and professional growth.
- The Risks and Challenges of Gaming Platforms: A Guide for Credit Unions
April 18, 2024Gaming platforms have evolved far beyond their origins as mere venues for entertainment; they now function similarly to complex payment systems. Recent findings from the Consumer Protection and Payments Branch (CPPB) highlight a concerning increase in scams and theft within these platforms, emphasizing the need for vigilance and awareness. For credit unions, understanding the complexities and potential risks of these platforms is vital to protect both members and the institution itself.