League News

Just hours before a government shutdown, Congress passed and sent the president a last-minute, short-term spending measure on Saturday night that will fund the federal government through Nov. 17. While the short-term spending measure means a temporary reprieve from the threat of a government shutdown, your League remains engaged with lawmakers on the issue. We continue to urge lawmakers to avoid a costly government shutdown and we remain watchful for any move to advance credit union-opposed measures by tying them to must-pass appropriations bills. 

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Through the generosity of Vizo Financial Corporate Credit Union, Virginia's credit unions can apply for grants that will fund financial education projects or programs to empower members to reach financial goals and establish a better quality of life. Up to $50,000 annually will be allocated to each of the state’s Foundations.

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Following an eventful week on the advocacy front, here's what you need to know on interchange legislation, the looming federal government shutdown and measures in Congress that would cap interest rates.

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This week, U.S. Sen. Mark R. Warner (D-VA), joined by Sens. Roger Wicker (R-MS), Chris Van Hollen (D-MD), Cindy Hyde-Smith (R-MS), Gary Peters (D-MI), and Jerry Moran (R-KS), reintroduced bipartisan legislation to promote lasting economic prosperity in low-income, minority, and rural communities. The Community Development Investment Tax Credit would help unlock more equity and long-term financial capital for community development financial institutions (CDFIs).

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The League today welcomed CUNA President/CEO Jim Nussle to the CEO Summit to discuss a host of pressing federal advocacy issues, including interchange, as well as the proposed CUNA/NAFCU merger.

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Despite intense efforts this summer by credit unions and the League to outline our deep concerns and the risks associated with interchange legislation, Rep. Bob Good (R-5^th) has signed on as a co-sponsor for the House version of the bill.

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The SAFER Banking Act, which would aid financial institutions in serving legal cannabis businesses, passed the Senate Banking Committee this morning in a 14-9 vote. Sen. Mark Warner (D-VA) voted in favor of the bill. This marks the first time the Senate has considered the legislation. An earlier version, the SAFE Banking Act, had passed the House seven times previously. The legislation went through several amendments during the markup as lawmakers wrestled with the appropriate amount of authority banking regulators should have, among other concerns.

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As federal workers across the nation anxiously await the news as to whether Congress will pass spending bills this week preventing them from being furloughed and temporarily going without paychecks, Justice Federal Credit Union stands ready to assist its’ Members.

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ValleyStar Credit Union is thrilled to announce the lucky winner of our "Scan Me, Win Me” car giveaway. After months of anticipation and thousands of entries, we are excited to reveal the proud new owner of a 2023 Toyota Camry! 

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Northern Virginia-based members of the League's Emerging Professionals Network were on site today at Reagan National Airport to welcome veterans flying into D.C. as part of an honor flight. Special thanks to these credit unions for their participation: Apple Federal Credit Union, NextMark Credit Union and Northwest Federal Credit Union.

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