League News

Ahead of a planned April 9 hearing before the Senate Judiciary Committee, Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kansas) have added two new cosponsors to their bill that would overhaul the rules governing credit card interchange. Your League remains actively engaged with Sens. Mark Warner and Tim Kaine on the issue. The measure remains our top legislative priority as we ready for the Governmental Affairs Conference and our “Hike the Hill” efforts next month in Washington.

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The NCUA issued a Regulatory Alert to provide information on which credit unions must comply with the Home Mortgage Disclosure Act (HMDA) reporting requirements under the CFPB’s Regulation C. In the alert, the NCUA explained that credit unions must collect HMDA data associated with mortgage loan applications processed during 2024 if the credit union meets the four following criteria ...

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The Virginia Credit Union League Board is pleased to announce that Karima Freeman, current Chief Operating Officer for the organization, will serve as Interim President/CEO following the departure of Carrie Hunt later this month.

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We 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.

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Three Virginia-based credit unions have made Newsweek's list of best credit unions and regional banks for 2024: Central Virginia Federal Credit Union, DuPont Community Credit Union and Virginia Credit Union. League associate member Eastman Credit Union, based in Tennessee, also made the list.

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ABNB Federal Credit Union recently donated $3,000 to the Foodbank of Southeastern Virginia and the Eastern Shore. The donation was part of ABNB’s grand opening celebration at its new Wards Corner branch located at 129 W. Little Creek Road in Norfolk. The credit union's Regional Branch Manager, Deon McGill, officially presented this funding award to support the vital work of the Foodbank in our community.

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The Federal Reserve recently published its quarterly issue of the Consumer Compliance Outlook. This publication generally focuses on what the Federal Reserve is identifying in the review of banks under their purview. This offers us an opportunity to see some trends (regulatory agencies tend to focus on similar things) and gain expertise on how we can jumpstart and improve our processes and avoid similar violations.

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The Virginia League has signed on with other system partners to a letter to federal lawmakers in support of the U.S. Environmental Protection Agency's Greenhouse Gas Reduction Fund (GGRF). Your League and other partners believe that GGRF funds will be targeted by lawmakers in the coming weeks, with some legislators working to significantly reduce monies previously appropriated for the fund.

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Freedom First Credit Union is pleased to announce Jaime Clark has joined the credit union as Vice President of Public Relations.

Jaime comes to Freedom First after having served as the Vice President of Marketing and Communications with Downtown Roanoke, Inc. Her knowledge of the Roanoke community, local government, small businesses, and economic environment will help her work to share the impact Freedom First makes in the communities we serve.

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The NCUA released the agenda for its Feb. 15 Board meeting, noting that the agency will receive a briefing on the Share Insurance Fund’s (SIF) quarterly report and will issue a final interpretive ruling and policy statement on the Minority Depository Institution (MDI) Preservation Program.

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