June 18th, 20181205The African-American Credit Union Coalition recently announced that Sheilah Montgomery is the 2018 recipient of the AACUC’s Pete Crear Lifetime Achievement Award.
For more than forty years, Montgomery has been advancing the mission of the credit union movement, while increasing the economic viability of individuals, communities and credit unions. She is a founding member of the AACUC and has dedicated her life and career to serving others as strategist, communicator, partnership builder and leader.
Montgomery is the retired president/CEO of Credit Union of Atlanta and the former president/CEO of 1st Choice Credit Union. During...
June 18th, 20180140The National Credit Union Foundation recently announced the appointment of a new marketing and communications director.
Effective July 16, Brian Griffith, CUDE, will lead all the Foundation's marketing, communications and public relations strategy and execution. Griffith joined the credit union movement in 2011. He's served as the marketing and communicatioins manager and most recently the AVP of Marketing for GESA Credit Union in Richland, Wash. In 2014 he was a "Crasher" at CUNA"s Governmental Affairs Conference representing Washington State and the Northwest Credit Union Association. Griffith was certified as a Credit Union...
June 11th, 20184136Young members deposited more than $15 million in their accounts during the Credit Union National Association's National Credit Union Youth Month savings challenge in April.
According to CUNA, results were reported by 145 credit unions that participated in the challenge, which was sponsored by both CUNA and Fiserv. Credit unions nationwide reported opening a combined 5,485 new youth accounts during the month of April. They also reported more than 65,000 young members made deposits.
This year's theme was "The Science of Saving."
"Participation in the Youth Saving Challenge remains a lasting way to introduce youth members to good...
June 8th, 20181115The United States' credit unions started 2018 on a high note, according to data from the National Credit Union Administration.
Total assets in federally insured credit unions rose by $79 billion, or 5.9 percent, over the year ending in the first quarter of 2018. That puts total assets at $1.42 trillion.
Below are other prevalent facts from NCUA's findings:
Total assets in federally insured credit unions rose by $79 billion, or 5.9 percent, over the year ending in the first quarter of 2018, to $1.42 trillion.
Total loans outstanding increased $87 billion, or 9.9 percent, over the year to $971.9 billion. The average...
June 7th, 20180179The Consumer Financial Protection Bureau fired the entirety of its 25- member Consumer Advisory Board during a conference call Wednesday, according to a Credit Union Journal article.
>>Related: Here are 5 things you need to know about the CFPB<<
Anthony Welcher, a political appointee and the CFPB's policy advisory for external affairs, told consumer advisory members during the brief call that the agency would be modifying the way the board operates
"We've decided we're going to start the advisory groups with new membership to bring in these new perspectives and new dialogue," Welcher reportedly said on the...
May 24th, 20180136Today, President Donald Trump signed into law a bill providing historic regulatory relief to credit unions and community banks.
The Credit Union National Association, the Georgia Credit Union Affiliates and other credit union leagues around the country have all championed the bill from early negotiations in the Senate. On Thursday, they celebrated Trump's signature on the act as a victory for the credit union movement.
"President Trump's signature on S. 2155 brings a successful end to one of the most comprehensive, historic advocacy efforts the credit union system has seen in quite some time," said CUNA President/CEO Jim Nussle. "From...
May 23rd, 20180102A regulatory relief bill marking a historic win for credit unions is set to cross the president's desk today.
President Donald Trump tweeted earlier that he plans to sign S.2155 into law.
S.2155, or the Economic Growth, Regulatory Relief and Consumer Protection Act, passed the House with a 258-159 vote Tuesday evening. The Senate passed the bipartisan bill in March.
CUNA, Georgia Credit Union Affiliates and other credit union leagues across the country have long supported the bill, which contains provisions that would “ease mortgage lending and free up capital for small businesses, two essential ways to grow an economy that has...
May 22nd, 2018089The House is poised to vote on a regulatory relief bill today that would benefit credit unions and their members, according to the Credit Union National Association. The House's vote would turn the bill to law.
S. 2155, also known as the Economic Growth, Regulatory Relief and Consumer Protect Act , contains provisions that would "ease mortgage lending and free up capital for small businesses, two essential ways to grow an economy that has suffered from both a financial crisis and the regulations put in place in response to it," according to an Op-Ed by Georgia Credit Union Affiliates CEO Mike Mercer. "This bill is a much-needed win for...
May 7th, 2018196Credit unions won a major victory in Iowa on Saturday.
The sate passed a tax bill without a provision it had been considering — a provision that would have increased taxes on the state's credit unions while lowering them for banks.
The Iowa Credit Union League and nearly 1,000 credit union leaders, including CUNA President and CEO Jim Nussle, rallied against the legislation at the Iowa state capitol in March.
"While we expect these fights to continue as bankers push false narratives about not-for-profit, member-owned financial institutions, this is a moment to congratulate the excellent leadership of Pat Jury and the Iowa Credit...
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