League News

The Virginia Credit Union League Board of Directors announced today that President/CEO Carrie Hunt will be leaving the League to serve as Chief Advocacy Officer for America’s Credit Unions, effective March 1, 2024.

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As many of you may be aware, there was recently a large-scale cyberattack that impacted 60 credit unions across the U.S. Unfortunately, this is a very negative bit of news associated with our industry. In the League's capacity as advisors to our member credit unions, we would like to take the time to reinforce the need for credit unions to pay special attention to your technology and cybersecurity postures.

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The League Board is accepting nominations for our working committees! Interested in serving? Complete the nomination form here.

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Happy…Thursday everyone! With the holidays upon us, the weekly roundup is one day early this week! Here's a quick overview of some of the headlines from the week in regulatory compliance.

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An effort to void the Consumer Financial Protection Bureau’s (CFPB) section 1071 rule ended at the White House late Tuesday. As anticipated, President Joe Biden vetoed a resolution of disapproval (S.J. Res. 32) for the CFPB rule.  The Senate passed the measure in October, followed by the House on December 1, and CUNA and NAFCU?wrote in support?of the resolution. Section 1071 is currently under a nationwide stay for all covered entities, after CUNA, Cornerstone League, and Rally Credit Union in Corpus Christi, Texas,?successfully challenged?the rule in court.   

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The Senate voted to confirm Tanya Otsuka to serve on the NCUA board Wednesday. Otsuka currently serves as senior counsel for the Senate Banking Committee and was nominated by President Joe Biden in September. "The Virginia Credit Union League looks forward to working with Ms. Otsuka as a member of the NCUA board," said League President/CEO Carrie Hunt. "We are excited to see her bring her talents to the credit union industry."

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Your League is pleased to announce its 2024 calendar! Next year, we'll deliver dozens of in-person conferences, seminars, and webinars designed to educate and elevate you and your staff while providing invaluable networking opportunities.

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Advocates from Henrico Federal Credit Union, Langley Federal Credit Union, Virginia Credit Union and your League met with Congressman Rob Wittman (R-1st) yesterday and his District Director Joe Schumacher at Henrico FCU’s headquarters. The newly drawn 1^st Congressional District now includes parts of Chesterfield, Hanover, and Henrico as well as Williamsburg, the Middle Peninsula, and the Northern Neck.

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Chartway Credit Union congratulates Stephanie Harney on her recent promotion to the newly created position of vice president of member care.

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With a focus on the American Association of Credit Union Leagues’ (AACUL) recently updated mission, vision, and strategic pillars, credit union system leaders gathered in California this month for the 2023 AACUL Winter Conference. Over 200 attendees from across the League System as well as League Chairs, the CUNA board, federal and state regulators, and key business partners participated. The conference celebrated a renewed energy from Leagues for a sharp focus on advocacy impact, excitement for deepened collaboration throughout the League System, and intentional, strategic connection with the new America’s Credit Unions.

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