League News

Banks are evicting what appears to be an increasing number of individuals, families and small business owners, many of whom "don't have the faintest idea why their banks turned against them." What gives?

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ValleyStar Credit Union is pleased to announce Woody Windley as its new Chief Financial Officer (CFO), effective November 1, 2023. With an impressive background in finance and leadership, Woody will play a crucial role in steering ValleyStar Credit Union's financial strategy into the future.

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Your League wrote Sen. Mark Warner on Wednesday to tout credit unions’ good work in supporting servicemembers, veterans and their families. In a letter sent ahead of Thursday’s Senate Banking Committee hearing on financial protections for servicemembers and veterans, the League asked Sen. Warner to remain mindful of credit unions’ continued commitment in this area. We noted the proud history of credit unions here in Virginia that were chartered initially to serve various military bases and servicemembers.

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The 1st Advantage Federal Credit Union Foundation is proud to announce the resounding success of its inaugural Pickleball Tournament, which took place on Saturday, October 21st at the Quarterpath Recreation Center in Williamsburg, Virginia. The event raised over $45,000 to benefit the 1st Advantage Foundation, supporting local military families in our community.

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In this week's Weekly Roundup, we cover news from NCUA and its budget proposal for 2024-2025, plus this week's Diversity, Equity and Inclusion Seminar; the CFPB's 1071 Rule injunction; and the coming merger of CUNA and NAFCU to form a new national trade association, America's Credit Unions.

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League President/CEO Carrie Hunt will be among the industry stakeholders testifying on the NCUA budget at a public hearing on Nov. 16. The agency will hold a public budget briefing at its Central Office, beginning at 2 p.m. The meeting will be livestreamed on NCUA.gov.

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The Credit Union National Association and National Association of Federally Insured Credit Unions today announced that member credit unions of both organizations have approved a merger of the two national trade associations. “The coming formation of a new national credit union trade association represents a singular opportunity to leverage the strengths of both CUNA and NAFCU in order to advance our industry,” said League President/CEO Carrie Hunt. “A single national trade association promises dues-paying credit unions operational efficiencies, economy of scale and a unified voice on the advocacy front.”

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IGNITE 2024 host hotel -- The InterContinental Washington D.C. (The Wharf) – is now accepting reservations!

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Many of our Virginia-based credit unions proudly serve servicemembers and their families. The Senate Banking Committee will hold a hearing on Thursday titled, “Ensuring Financial Protection for Servicemembers, Veterans and Their Families.” Considering the good work of our credit unions, your League will submit a letter ahead of the hearing to spotlight Virginia credit unions’ long, proud record of service to members of the military and their families.

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Congratulations to Virginia Credit Union, which today celebrated its fourth new branch location in the City of Richmond, with this latest branch sited in the city’s historic Church Hill neighborhood. The credit union anticipates opening its fifth new branch location in a matter of weeks, with all five having opened within a year’s time. As part of the grand opening celebration, the credit union noted its recent $350,000 in funding for RPS Saves, a new initiative to encourage Richmond City Public School students to save for the future. Parents or guardians can open an account for a student and the credit union will cover the $5 membership requirement and deposit $20 into the child’s savings account. The credit union also donated $25,000 to Boys and Girls Clubs of Metro Richmond.

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