League News

While our credit unions were making their way up and down the halls of the General Assembly Building in Richmond, the NCUA Board was holding its January Board meeting, marking the first with NCUA's newest Board member, Tanya Otsuka. Board member Otsuka was sworn in by Chairman Harper last week, and she replaces Board member Rodney Hood, whose term expired last year.

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130 credit union advocates from across the Commonwealth traveled to Richmond today in support of credit union legislation and to educate lawmakers about the “Credit Union Difference.”

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Today, 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. 

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Northwest Federal Credit Union (NWFCU) is proud to announce that Washington Commanders, Partnerships Marketing Manager, Nathan Turner has been hired as the new SVP of Marketing and Communications. 

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The NCUA Board will meet on Jan. 18 to consider two items: a Board briefing on NCUA’s 2024-2026 Diversity, Equity, Inclusion, and Accessibility strategic plan and a discussion of NCUA’s 2024 Annual Performance Plan. This will be the first official meeting for new Board member Tanya Otsuka, who was sworn in earlier this month.

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Northwest Federal Credit Union (NWFCU) is proud to announce that former CEO of the CORE Foundation Taralyn Tharp Kohler, was recently hired as VP of The NWFCU Foundation. Ms. Kohler brings with her more than 20 years of high-performing executive leadership experience in the telecom and nonprofit sectors with a proven track record in delivering revenue results, building high-performance teams, and developing strong partnerships.

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Credit unions and the League are working on issues and legislation at both the state and federal levels this week, with the General Assembly session having kicked off Wednesday and Congress facing a partial government shutdown next week.

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With a promise to provide memorable experiences that bring joy, hope, and smiles to medically fragile children and their families, Chartway’s charitable arm–  Chartway Promise Foundation – worked tirelessly to raise funds in 2023. Thanks to corporate and individual donors, as well as successful fundraising events, its board was able to approve $1M in grants, for use in 2024, to the following non-profit charitable partners with missions that align with the foundation’s purpose...

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Take 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!

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Virginia Credit Union, Inc. (VACU) and Member One Federal Credit Union (Member One) are excited to announce their plans to merge, pending regulatory approval, and a positive Member One membership vote. If approved, the combined credit union would serve close to 500,000 members with 37 branch locations and approximately 1,100 employees throughout the Commonwealth of Virginia.

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