League News

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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We’re proud to announce our schedule for IGNITE | League Annual Meeting! Registration is now open for our premier networking and education event, which is being held May 1-3 on the waterfront in Washington, D.C. at InterContinental (The Wharf).

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The League was on site today at the General Assembly Building and Capitol as the Virginia legislature convened for its 2024 session. The League advocacy team is combing through the roughly 1,900 bills already introduced, with more to follow in the coming days. HB 1205, our legislation that would authorize state- and federally-chartered credit unions to hold public deposits, will likely be referred to the House Commerce and Labor Committee for consideration.

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Your 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.

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With 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.

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The 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.

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The Virginia Credit Union League’s Board of Directors is seeking nominations for the Eugene H. Farley Jr. Award of Excellence. The Farley Award is given annually to recognize an individual who has made a significant contribution over a period of the past two or three years. It may include work on a specific project or initiative or recognize exemplary leadership at the local, state, or national level. Credit union professionals and volunteers/officials are eligible to receive this award.

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