The California and Nevada Credit Union Leagues continue keeping industry leaders informed of an attempt by a pair of U.S. senators to interrupt the credit card payments system. Recently, not only have those senators found colleagues in the House to introduce their bill, they are now trying to add their measure to a bill dealing with national defense.

SchoolsFirst FCU CEO and long-time credit union leader Bill Cheney is one of four honorees of this year’s Herb Wegner Memorial Award announced this week by the National Credit Union Foundation — the U.S. credit union movement’s highest national honor!

Financial Partners CU hosted its 6th Annual Economic Forum this week, spotlighting a forecast, presentation, and expert commentary on whether the economy is entering a recession, the potential cure for inflation, and other hot topics on the minds of senior management teams at credit unions and local businesses.

On Thursday, the House of Representatives passed H.R. 6889, the Credit Union Board Modernization Act — a bill providing parity with state-chartered credit unions by allowing federally chartered credit unions to remove the monthly board meeting requirement and move to one per quarter (and no fewer than six per year).

Credit unions in California and Nevada that are driving social impact lending and safe-banking efforts for their members and local communities received good news this week from the Federal Housing Administration, U.S. Treasury Department, and the Community Development Financial Institutions (CDFI) Fund!

As hurricanes leave Florida and Puerto Rico devastated by flooding — and as regions across California and Nevada recover from summer’s devastating wildfires — CUAid is available to financially assist communities and members that local credit unions serve.

A ransomware attack on your credit union could inflict serious financial damage and pose reputation risk.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs. Please check your email or click here to access the newsletter using your email address and your California or Nevada Credit Union Leagues member-only password.

The California and Nevada Credit Union Leagues would like to congratulate Leagues President and CEO Diana Dykstra for her induction into the Herstory exhibit on Thursday morning in Manchester, N.H.!

The metaverse is a 3D integrated network of virtual worlds that is increasingly attracting the attention of major corporations looking to make a digital appearance in front of billions. Through augmented reality and virtual reality (AR users can create their own digital avatars to interact with each other in different worlds without leaving their homes. These worlds can immerse users in anything from gaming to social networking and beyond.

To increase the accessibility and functionality of the Credit Union Diversity Self-Assessment, the National Credit Union Administration (NCUA) has introduced several process improvements. These enhancements include additional details for submitting surveys, improved navigation, prepopulation of certain fields, and compliance with the 21st Century Integrated Digital Experience Act. The modernization also upgrades security and ensures data integrity and confidentiality.

The California Franchise Tax Board (FTB) has indicated the first wave of California’s Middle Class Tax Refund (MCTR) payments will soon be processed and disbursed to qualified taxpayers as early as Oct. 7.

A new report quantifies the current state of women’s and minority representation on credit union boards, spotlighting the extent to which there are (or aren’t) links between those two demographics and key measurements of member-centric performance and financial performance.

Whether the economy enters a recession sooner versus later, it’s important for credit union leaders to watch their members’ reactions to current interest rates, inflation, and assumptions about future rates and inflation. The latest FREE league-member webinar — Credit Unions & Members: Threading the Recession Needle — addresses those issues and more.

The California and Nevada Credit Union Leagues’ 2022 Credit Union Staff Salary Survey report — produced once every two years — is now available!

The California and Nevada Credit Union Leagues and the Credit Union National Association (CUNA) are doubling-down their efforts toward the Community Development Financial Institutions (CDFI)-certification cure period that looms over credit unions involved in this annual funding.

The National Credit Union Administration (NCUA) Board met for its September board meeting this week, the first in-person open board meeting since the COVID-19 pandemic began.

This week, California Gov. Gavin Newsom and State Treasurer Fiona Ma announced more than $1.1 billion in funding to support the state’s small businesses (see open enrollment lender information down below). The funding comes from the U.S. Treasury Department’s State Small Business Credit Initiative 2.0 (SSBCI 2.0) and is intended to leverage-up to an additional $18 billion more in capital.

Clark County CU has selected ViClarity’s governance, risk, and compliance (GRC) platform to automate risk and compliance management processes within the organization. ViClarity—a California and Nevada Credit Union Leagues company—is providing the perfect blend of technology and consulting solutions to help the team at Clark County CU stay on top risk and compliance obligations while reducing the time spent on manual tasks. The new journey will enable them to automate all components of their risk framework, including risk registers, risk controls, key risk indicators, and risk events, along with all compliance processes on one central platform.

Thanks to recent approval from the Nevada Legislature’s Interim Finance Committee, small businesses across Nevada could receive a $35 million boost over the next three years from the first tranche of the State Small Business Credit Initiative (also known as SSBCI 2.0).

Credit Union Awareness, which leads the industry’s only national and state-level consumer marketing program, recently announced increases in credit union membership in states where the YourMoneyFurther.com program has been launched — and the numbers for California and Nevada are significant.

Sen. Alex Padilla (D-CA) has introduced the Senate companion bill to H.R. 7003, the Expanding Financial Access for Underserved Communities Act. The House version — authored by House Financial Services Committee Chairwoman Maxine Waters (D-CA) — was included in H.R. 2543, which passed the House floor earlier this year.

Take a deep-dive into the world of advocacy with more than 50 other GAC Crashers at the biggest credit union industry event of the year in Washington, D.C. — the 2023 CUNA Governmental Affairs Conference (GAC)!

In July 2021, the National Credit Union Administration (NCUA) announced the implementation of Phase 1 of its phased approach to returning to onsite operations. In April 2022, the NCUA entered Phase 2. The agency will enter the third phase (Phase 3) of resuming its onsite operations on Oct. 17, 2022 as outlined in its Letter to Credit Unions (22-CU-11).

As we’ve seen, natural disasters and climate-related interruptions are on the rise nationwide. However, at Agility, we’ve noticed a shift in our customers needing our assistance in the last quarter that we wanted to share. Connect with a business continuity specialist to learn more about how the ever-changing landscape of business continuity could impact your credit union.

The Great Resignation is not ending any time soon. According to a survey in Joblist’s 2022 Market Report, three out of four full-time employees are planning to quit their jobs this year. This sobering news comes on top of the 47.4 million Americans who left their jobs voluntarily in 2021. There are many reasons credit union employees choose to leave their job. Historically, “bad managers” has most often been cited as the key reason employees decide to jump ship. “Job burnout”—mental exhaustion due to unrelenting pressure, lack of respect/resources, or simple boredom, is another common justification. Also, COVID-19 restrictions forced many employees, commonly women, to leave the workforce to tend to children who could no longer go to daycare or had to be supervised at home during remote schooling. But things may be changing.

The California and Nevada Credit Union Leagues will once again honor and remember those who had a significant impact on their credit union, credit union community, or credit union organization and who passed away in the last year.

Total non-farm payroll employment in California has recovered 98.3 percent of jobs lost in the labor market two-and-a-half years since the COVID-19 pandemic recession devastated the economy. Meanwhile, Nevada’s job market has plateaued at new record highs after more than recovering from its pandemic-era losses this past summer.

California and Nevada credit union leaders returned to Washington D.C. this week for Hike The Hill, bringing their agenda to members of Congress and regulators, and fostering meaningful discussions on the credit union movement’s philosophy and purpose in local communities.

As deposit growth and loan growth at U.S. credit unions started taking very different paths in the second quarter of 2022, some additional interesting findings have been released on the industry’s operating return on assets (ROA), net-revenue growth, economy-of-scale ratio, relationship per member, product mix, and excess reserves.

Recently, the California and Nevada Credit Union Leagues and ViClarity performed a database cleanup to ViClarity’s member-only site. This robust online resource features a number of compliance materials such as newsletters, bulletins, frequently asked questions, state resources, and more — all available to you as a League-member benefit.

In recognition of National Hispanic Heritage Month, the National Credit Union Administration’s (NCUA) Office of Consumer Financial Protection (OCFP) and Hispanic Employee Resource Group, CULTURA, are hosting the How Credit Unions Empower Hispanic Consumers and Communities virtual roundtable on Oct. 6, 2022.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs. Please check your email or click here to access the newsletter using your email address and your California or Nevada Credit Union Leagues member-only password.

Nav Khanna joined $932 million-asset First City CU on June 1 as its new president and CEO, coming from Travis CU where he served as executive vice president and COO. Khanna offered his thoughts on executive leadership in a recent question-and-answer interview with Credit Union Magazine.

In a Letter to Credit Unions (22-CU-10), the National Credit Union Administration (NCUA) is providing a tool to assist small credit unions with determining their allowance for credit losses (ACL) on loans and leases as required under Accounting Standards Codification Topic 326, Financial Instruments – Credit Losses, commonly referred to as Current Expected Credit Loss (CECL). The Simplified CECL Tool is designed for credit unions with less than $100 million in assets.The CECL Tool and its supporting documentation are available on the CECL Resources page at NCUA.gov.

Maple Street, Inc., the leader in vendor management for credit unions and community banks, and a business partner of the California and Nevada Creidt Union Leagues, is taking client and vendor relationships to a new level with its Performance Addendum.  

As we approach the month of October, recognized as National Cybersecurity Awareness Month, it is important also to acknowledge another milestone worth remembering. This September marks the fifth anniversary of the now famous Equifax data breach that impacted hundreds of millions of Americans (your members) and forever increased their level of risk against criminal attacks. 

The Community Development Financial Institutions (CDFI) Fund has released its CDFI Certification Cure-Related Frequently Asked Questions (FAQs) that it had been promising.

The California and Nevada Credit Union Leagues’ latest Chapter News and Notices (#LEAGUECHAPTERS) has arrived, bringing you quarterly news and information about League Chapters!

Nominations for the California Credit Union League’s 2022 - 2023 Board of Directors and Audit Committee elections opened on July 1, 2022. This year's open positions included one Asset Group B Director, one Asset Group D Director, two At-Large Directors, and one Audit Committee Member.

This week, the California Credit Union League and local credit union leaders held two important events for state and congressional candidates running for office.

As wildfires devastate parts of California and Nevada, CUAid is available to financially assist the communities and members that local credit unions serve. This action-response program harnesses the generosity of the credit union movement to provide grant assistance for disaster relief.

Angela Harden, facilities assistant manager with Bay FCU, has been named one of the five finalists in the 2022 CUES Emerge program (Credit Union Executives Society). CUES Emerge applicants are young credit union leaders and professionals from all over the nation.

In a recently published article, CreditUnions.com featured Ameet Seth, senior vice president and head of delivery channels, investments, and membership development for Patelco CU (headquartered in Dublin, CA): Visitors to the Patelco CU branch in San Ramon, CA can now have their cake and eat it, too, thanks to a unique partnership that has brought the credit union and the famed Sprinkles bakery under the same roof.

The National Credit Union Administration (NCUA) released updated guidance this week for addressing interest rate risk (IRR). The agency will also be hosting a webinar outlining these updates.

State legislators made up for lost time as the California Legislative Session drew nearer all month long, finally closing out at midnight on Aug. 31. Lawmakers introduced over 2,000 bills during the session, many of which impacted credit unions.

The California and Nevada Credit Union Leagues and the Credit Union National Association (CUNA) have been battling legislation to regulate credit card interchange fees. Much has been written — and will continue to be — regarding the issue.

What percentage of venture capital (VC) funding goes to Black, Latinx and female entrepreneurs?

The National Credit Union Administration (NCUA) has awarded more than $1.5 million in Community Development Revolving Loan Fund (CDRLF) grants to help 90 low-income credit unions expand outreach to underserved communities, participate in mentoring relationships, receive training, and improve digital services and security.

Leaders, volunteers, credit unions, and organizations — including Leo H. Shapiro Lifetime Achievement Award recipient Jeff Napper — will be recognized during REACH 2022 in Palm Desert, CA this November as the California and Nevada Credit Union Leagues bestow this year's League Awards, Advocacy Awards, and Chapter Awards.

Annual deposit growth versus loan growth were taking very divergent paths as the U.S. credit union industry ended second-quarter 2022 (June 30, 2022). Lending to consumers and businesses accelerated at its highest year-over-year rate (16 percent) in nearly two decades, while deposit growth started slowing even more going into mid-year.

A new report published by the U.S. Joint Economic Committee says Nevada’s housing shortage could be completely remedied and California’s shortage significantly aided if the U.S. government authorized the sale of certain federal lands to state and local governments for home development projects.

Credit union regulatory and compliance professionals who have been following the California Privacy Protection Agency’s (CPPA) latest proposed changes to the California Consumer Privacy Act (CCPA), as implemented by the California Privacy Rights Act (CPRA), can click here to view the official comment letter recently submitted.

With Congress out of session for the August District Recess, credit union advocates have been highly engaged with their local lawmakers all over California and Nevada.

Wescom CU has been named the official banking partner of the UCLA Dashew Center for International Students and Scholars. As UCLA is home to more than 12,000 international students and scholars representing more than 120 countries, the Dashew Center — dedicated to promoting global connection, international understanding, and cultural sensitivity — serves as the central hub for visa services, support, and advocacy to students and scholars prior to their arrival and throughout their time at UCLA.

The cost of living is going up. The Bureau of Labor Statistics’ (BLS) April Consumer Price Index (CPI) rose 8.3% over the past year, higher than consensus estimates. From food, to energy, cars and shelter, no sector is safe from inflation.

Credit union leaders recently gathered at First Entertainment CU to show support for a friend of credit unions — California Assemblymember Jesse Gabriel (D-Encino).

More than 80 industry leaders from nearly 30 credit unions and affiliates attended this year’s 15th Annual Shapiro Summit at JW Marriott Anaheim Resort in Anaheim, CA, which provided a wealth of information designed to help credit unions under $200 million in assets solve real-life issues — including staffing issues, succession planning, due diligence, risks, safety, and so much more.

Leaders from three California credit unions recently joined other industry colleagues from around the nation to participate in The Lab at Filene's first-ever Lab Symposium in San Francisco. The research initiative is moving forward in testing new innovative products and ideas to help credit unions grow and make a positive impact on their members and communities.

Total non-farm payroll employment in California has recovered 97 percent of jobs lost in the labor market two-and-a-half years since the COVID-19 pandemic recession devastated the economy. Meanwhile, Nevada’s job market is reaching new record highs after more than recovering from its pandemic-era losses.

Thanks to nearly 600 credit union supporters and staff who sent messages to California State Assembly legislators and made important phone calls to those offices within a 48-hour period, Senate Bill 1323 will not be moving forward!

Housing demand in California cooled further in July as the effects of rising interest rates and high home prices hit would-be homebuyers, dragging home sales below the annualized 300,000 benchmark level for the first time since May 2020 according to the California Association of Realtors.

Three California Credit Union League member credit unions have won first place in the state-level 2022 Credit Union National Association (CUNA) Awards. These credit unions will now advance to the national competition.

In a recently published article, CreditUnions.com featured Carol Hauck, CEO of First U.S. Community CU (headquartered in Sacramento, CA), and California Community CU (headquartered in Sacramento, CA): While shared branching and cooperation among credit unions is nothing new to the industry, a recent partnership between two neighboring California credit unions showcases a relatively rare sort of collaboration.

You’ve finished your due diligence reviews – now what?

Through its wholly owned subsidiary called Greater Nevada Mortgage, Greater Nevada CU is now the 12^th credit union in Nevada and California participating in the Federal Home Loan Bank of San Francisco’s Workforce Initiative Subsidy for Homeownership (WISH) program.

The 2022 YP Crashers’ contest for Catalyst Corporate’s Economic and Payments Forum — Future Vision — is now accepting applications! This FREE conference-and-hotel opportunity is available to all credit union employees who qualify as young professionals under 40 years of age.

Designed for credit unions under $200 million in assets, this year’s Shapiro Summit (Aug. 19 – 20) will focus on solving real issues, including staffing, succession planning, due diligence, and risk and safety. What’s more: also joining us this year is National Credit Union Administration Chairman Todd Harper!

This week’s Monthly Bulletin from the California Department of Financial Protection and Innovation (DFPI) was published, with two items credit union professionals should take note of:

On July 29, more than 850 organizations and credit unions across 50 states and 11 countries took social media by storm for the 2nd annual #ILoveMyCreditUnion social media blitz. The goal of the grassroots campaign was to encourage authentic high-energy conversation across social media platforms to build credit union awareness. Approximately 60 credit unions and organizations from California and Nevada participated in the event.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs. Please check your email or click here to access the newsletter using your email address and your California or Nevada Credit Union Leagues member-only password.

The latest issue of Consumer Compliance Outlook is now available for download. This issue includes the following articles and features:

• Merger Lessons Learned 
• Commercial Flood Insurance Compliance – Washing Away Common Pitfalls
• News from Washington: Regulatory Updates
• On the Docket: Recent Federal Court Opinions
• Regulatory Calendar
• Click here to download the entire issue (pdf download)
  
  

CUNA Mutual Group released its new What Matters Now™ consumer research that explores multicultural and multigenerational consumer insights. The report is the fifth in the series of research and this year includes data on Native American, Alaskan Native and Indigenous consumers, as well as qualitative data, shining a light on human experiences behind consumer data.

With the McKinney Fire blazing near Yreka, CA and no full containment in sight, Siskiyou CU is asking fellow credit unions across California for assistance as its members and the community grapple with the continuing economic impact of this latest disaster.

The California and Nevada Credit Union Leagues activated its grassroots action platform — Connect for the Cause — after two U.S. senators recently introduced credit card interchange legislation that would impact credit union members’ ability to use their cards.

Recent news and published research on California are calling attention to important housing, economic, worker, and demographic shifts that credit union leaders can study as they continue serving local members going into the second half of 2022 and beyond:

The California and Nevada Credit Union Leagues connect with Financial Partners CU for a Part 2 discussion of the credit union’s community development strategy to serve the underbanked.

With less than 100 days until the November mid-term election, California’s primary election results have been certified and are available here. The autumn ballot will include seven propositions, although many others failed to qualify, including one to raise the minimum wage to $18 an hour. You can view the complete list here.

ViClarity Board Chairman Murray Williams, Board Manager Diana Dykstra, and Global CEO Miriam De Dios Woodward recently met with senior management stationed out of the company’s Tralee, Ireland office to foster a dialogue on the forward-looking needs of credit unions in governance, risk, and compliance (GRC) and related technologies.

The latest Credit Union Awareness update webinar (Aug. 2) for California presented the most recent figures on how this unique digital advertising campaign continues making huge strides when it comes to increasing consumer consideration for credit unions while connecting consumers more directly to participating credit unions.

Nearly $75,000 was raised during the 2022 Richard Myles Johnson (RMJ) / Origence Annual Golf Classic on Aug. 1, which drew 110 golfers and 28 sponsors who took to the links at the Monarch Beach Resort in Dana Point, CA!

While financial anxiety is nothing new to many older generations, the type of financial anxiety weighing on Gen Z is uniquely problematic — not only for the people suffering from the numerous detrimental effects but for the general world population, as well. Additionally, Gen Z reports greater general anxiety as a whole, specifically relating to the uncertainty of their futures. 

Yesterday, representatives from FIS/ChexSystems gave an overview of its role in the national Bank On Initiative and partnership with the Cities for Financial Empowerment Fund (CFE) to deliver a Bank On Bundle to interested credit union leaders across California and Nevada.

In an effort to increase the availability of safe, low-cost transactional accounts for consumers, the California and Nevada Credit Union Leagues reached out to its member credit unions to offer an account that meets the National Bank On Standards. Nader Moghaddam, President and CEO of Financial Partners CU—who became Bank On-certified in 2019—stepped in to help lead the charge and share the credit union’s success with the initiative.

The demand for innovative solutions by credit union members is getting stronger every day. Tapping to order products online, book healthcare appointments, and have food delivered is the common expectation today. Employee and member experiences suffer with repeated out-of-wallet questions to prove identity⁠, and it can lead to a frustrated service moment.

The Credit Union Awareness campaign is officially launching in Nevada on Aug. 1, with four local credit unions participating!

The House Financial Services Committee advanced H.R. 6889 this week (the Credit Union Board Modernization Act), which provides federal credit unions with flexibility for scheduling their board meetings.

SCE FCU was recognized and honored on July 19 through a public proclamation made by the Clark County Board of Commissioners (Clark County, NV) for the credit union’s role in providing financial literacy and education to shape the minds of youth in entrepreneurship during the 2022 Summer Business Institute Program (SBI Program).

Origence, a CU Direct brand, has announced that it delivered a record amount in credit union loans through its lending platforms in the second quarter of 2022.

After three examinations, two projects, and several virtual and in-person sessions, the Western CUNA Management School (WCMS) “Tau” Class was celebrated and honored on July 21 at Pomona College in Claremont, CA. The ceremony for 89 graduates marked the conclusion of the 62nd annual session of WCMS and the 60th graduation commencement (view photos here).

Two-and-a-half years since the COVID-19 pandemic recession devastated the economy, total non-farm payroll employment in California has recovered nearly 94 percent of jobs lost in the labor market. However, Nevada’s job market just surpassed 100 percent last month, reaching a historical record high and more than recovering from its losses.

Nearly 150 golfers and volunteers from more than 25 credit unions participated in this year’s 12th annual Multi-Chapter PAC Golf Tournament, held July 18 at Glendora Country Club in Glendora, CA! Click here for a photo gallery of the event.

This week, the National Credit Union Administration (NCUA) board met for its July board meeting. This was the last meeting before the summer break, with the next board meeting occurring in September, where NCUA Board Chairman Todd Harper hopes to resume in-person.

Recently, two successful fundraisers were held for allies of the credit union movement: California Assembly Speaker Anthony Rendon (D-Lakewood) and Assemblymember Sabrina Cervantes (D-Riverside).

The California and Nevada Credit Union Leagues would like to congratulate Diana Dykstra, president and CEO of the Leagues, for stepping into the honorable role of board chair for the World Council of Credit Unions (WOCCU) during the third day of the 2022 World Credit Union Conference in Glasgow, Scotland!

Maple Street’s got your back, especially when it comes to due diligence and passing your exam. We know that no one likes the grunt work and seemingly endless drudgery associated with compliance. So, we’ve done something about it.

Western CUNA Management School (WCMS) students and faculty gathered this week for the Richard Myles Johnson Colloquium in Credit Union Philosophy to hear a special address from John Janclaes, a past James D. Likens Alumni Recognition Award recipient, former WCMS board director, and one of many distinguished alumni serving credit unions today.

The National Credit Union Administration (NCUA) Board will meet next week on Thursday (July 21) at 7 a.m. (Pacific). The board’s agenda includes:

A mounting shortage of workers is the main culprit behind the painstakingly slow job recovery playing out in California’s five major metropolitan regions, according to a recent analysis released by Los Angeles-based Beacon Economics.

Coming out of the online Your Economy—Your Credit Union Conference on Tuesday this week, inflation continued roaring through news headlines and fueling predictions about whether the Federal Reserve will raise its short-term interest rate target in late July by 50, 75, or 100 basis points from the current 1.5 – 1.75 percent range.

California credit unions should take note that on June 30, the invoice for the 2022-23 annual assessment by the California Department of Financial Protection and Innovation (DFPI) was emailed to credit unions, banks, and money transmitters (instead of sending a paper invoice through the mail).

The California Privacy Protection Agency (CPPA) has begun the formal rulemaking process to adopt proposed regulations implementing the Consumer Privacy Rights Act of 2020 (CPRA), a law amending and building on the California Consumer Privacy Act (CCPA).

The results are in for the Credit Union Legislative Action Council's (CULAC) June "$30 by the 30th" fundraising challenge! In just 30 days, California credit unions raised $6,245 toward the Federal PAC, with credit union leaders going above and beyond the fundraising goal of $5,000.

There are only two days left of the Summer of Demo Fridays with Eltropy, a California and Nevada Credit Union Leagues business partner. 

More than 70 credit union industry leaders from California and Nevada attended this year's two-hour online Your Economy—Your Credit Union Conference this week, equipping them for navigating 2023’s unpredictable economy, interest rates, volatile changes in the housing market, and local homeowner affordability issues.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs. Please check your email or click here to access the newsletter using your email address and your California or Nevada Credit Union Leagues member-only password.

Credit unions have long nurtured a deep trust with members. Historically, that trust has been difficult for even the most formidable opponent to duplicate. Difficult, yet not impossible.

The thought of implementing a new Risk Management plan or changing a current model can often be a daunting task for management. Where does one begin and how does a plan become embedded in an organisation?

Expanding the construction of accessory dwelling units (ADUs) — a secondary, oftentimes backyard home on a single-family lot — offers benefits to individual homeowners and has the potential to increase the supply of affordable homes, according to a new study by UC Berkeley’s Terner Center for Housing Innovation and USC’s Lusk Center for Real Estate.

The California and Nevada Credit Union Leagues would like to congratulate 12 CEOs from both states whose credit unions recently made the "America's Best Credit Unions in Each State" rankings published by Forbes each year!

This week, credit unions met with California Assemblymember Mike Fong (D-Alhambra and Los Angeles communities), who represents Assembly District 49.

The Consumer Financial Protection Bureau (CFPB) issued a legal interpretation to ensure that companies that use and share credit reports and background reports have a permissible purpose under the Fair Credit Reporting Act.

In a July 6 letter to credit unions, the National Credit Union Administration (NCUA), the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the U.S. Department of Treasury’s Financial Crimes Enforcement Network released a joint statement clarifying its position that banks and credit unions must take a risk-based approach to assessing individual customer (member) risk. The joint statement reinforces the NCUA’s position that no single customer type automatically presents a high risk of money laundering, terrorist financing, or other illicit financial activity risk.

The California and Nevada Credit Union Leagues have announced this morning that long-time team member Bob Arnould, Senior Vice President of Advocacy, will enter retirement today, July 1. Arnould has been a key leader of the Leagues’ advocacy department for almost three decades and has been the driving force behind building a political advocacy program that has become a model for state and national efforts.

The Russian invasion of Ukraine and the subsequent escalation of the Russian-Ukrainian war has been met with condemnation and resulted in severe economic sanctions from governments across the globe.

The California and Nevada Credit Union Leagues and ViClarity hosted Part 2 of the “Risk 101: Managing Risk at Your Credit Union” webinar series that discusses the practical application of a risk management workflow.

The California and Nevada Credit Union Leagues recently met with the U.S. Department of the Treasury regarding a surge in fraudulent or counterfeit U.S. savings bonds being redeemed at credit unions and other financial institutions across the country. It’s been estimated that between $30 million and $50 million in losses have been incurred since 2020 when this issue first surfaced.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has opened the funding round for the Equitable Recovery Program (fiscal year 2022). CDFI-designated credit unions have until Aug. 23 to apply.

How long will we work for you for free to negotiate your vendor contracts? As long as it takes!

The story of people helping people is timeless. From our industry’s humble roots in Manchester NH, to the work your credit union is doing today - the credit union movement has always been about making a difference in the lives of its members.

The United States has taken a major step towards adopting a regulatory framework for the governance of digital assets, with President Joe Biden signing an Executive Order on Ensuring Responsible Development of Digital Assets in March of 2022.

In the race to digitize payments, real-time payments are leading the way. But the speed of the payment is not the only consideration; what can be accomplished because of that speed is even more important. In the real-time economy we live in, there’s a need for real-time information to help businesses reduce their risk, manage physical and financial supply chains and create and operate new customer experiences. That’s why we added analysis of the real-time payments landscape to the 2022 edition of The Global Payments Report.

Sandra L. Thompson was sworn to a five-year term as the third Senate-confirmed Director of the Federal Housing Finance Agency (FHFA). Thompson was appointed to head the Agency by President Joe Biden. FHFA, created by the Housing and Economic Recovery Act of 2008, is the regulator and conservator of Fannie Mae and Freddie Mac, and the regulator of the Federal Home Loan Bank System, and is responsible for oversight of the $7.5 trillion mortgage finance market.

Juneteenth—observed this past weekend on June 19—is a celebration of freedom and the pursuit toward racial equity, including affordable financial access for those underserved by mainstream commercial banks and lenders. Inclusiv—a certified Community Development Financial Institutions (CDFI) intermediary—specializes in the support and preservation of Minority Depository Institutions (MDIs) and cooperativas that are led by and serve people of color.

During this week's National Credit Union Administration (NCUA) board meeting, the board received an update regarding the optional post-exam feedback survey.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs.

It was an eventful week at the California State Capitol where Assemblymember-Elect David Alvarez was sworn in. Alvarez prevailed in the special runoff election to fill the vacancy of Lorena Gonzalez in the 80th Assembly District when she took a job to lead the California Labor Federation.

The House of Representatives has voted 215-to-207 to pass H.R. 2543, a legislative package including House Financial Services Committee Chairwoman Maxine Waters' H.R. 7003 — the Expanding Financial Access for Underserved Communities Act.

The Financial Crimes Enforcement Network (FinCEN) issued an advisory to alert financial institutions to the rising trend of elder financial exploitation (EFE).  EFE involves the illegal or improper use of an older adult’s funds, property, or assets, and is often perpetrated either through theft or scams.  The advisory highlights new EFE typologies and red flags since FinCEN issued its first advisory on the issue in 2011. 

Juneteenth—celebrated on June 19—commemorates the true ending of slavery in the United States and honors the rich African American culture. In recognition of the amazing work credit unions do in their communities, California and Nevada Credit Union Leagues Vice President of Social Impact Daniel West connects with Kinecta FCU to discuss how they are supporting and empowering African American communities.

When considering improvements to their website, credit union leaders have a lot to think about. One of the most important factors is how easily their staff can update, publish and organize content for the site. If a credit union’s site is difficult for its employees to access and edit, then the they should look seriously at adopting a new Content Management System (CMS).

We mark this day (June 15) and give it special attention because it's World Elder Abuse Awareness Day. It is upon us again and a great reminder of what is facing our world's elders. Unfortunately for your Credit Union's elder members, this year's news is as bad as it can get.

As I talk with credit unions around the country, I’ve been able to engage with many in the movement around multicultural business strategy, and there is one message I repeat over and over.

A lot of car buying services promise a hassle-free process, but ultimately spending hours at a dealership before getting behind the wheel isn’t exactly easy. The Autoland experience is better. You can shop online or let a personal shopper handle everything to get you a competitive price on a new or pre-owned vehicle you’ll love. Best of all, you get to skip the dealer trip and pick up your new ride at the credit union.

On May 6, 2022, in Shields v. Credit One Bank, N.A., 32 F.4th 1218 (2022), the Ninth Circuit Court of Appeals held that an actual impairment under the definition of “disability” in the Americans with Disabilities Act (ADA) is not subject to time limitations. In other words, a temporary impairment may qualify as a disability under Title 1 of the ADA and the regulations issued by the Equal Employment Opportunity Commission (EEOC), absent a showing of long-term effects.

California credit unions earned several wins in primary-election races across the state this past week. The Credit Union Legislative Action Council (CULAC) and state credit union leagues backed many victorious credit union-friendly candidates, experiencing a significant success rate.

In recognition of recent gasoline price increases, the Internal Revenue Service (IRS) has announced an increase in its standard mileage rates for the final six months of 2022. 

The California and Nevada Credit Union Leagues would like to congratulate National Credit Union Administration (NCUA) Board Chairman Todd Harper on his reappointment to the NCUA Board. This week, the U.S. Senate confirmed Harper to a five-year term through 2027.

Nearly two-thirds of all federally insured credit unions have less than $100 million in assets, and they face an array of challenges in a rapidly changing financial services market.

With the recent release of the 2022 NCUA Supervisory Priorities, it is worth noting that cybersecurity preparedness, once again, is within the top list of concerns for credit unions to address.

The California and Nevada Credit Union Leagues are asking credit unions to seriously consider offering an account that meets BankOn national account standards to increase the availability of safe, low-cost transactions for millions of unbanked or underbanked consumers in both states.

The California and Nevada Credit Union Leagues’ latest Chapter News and Notices (#LEAGUECHAPTERS) has arrived, bringing you quarterly news and information about League Chapters!

In a credit union call center, digital transformation can mean the difference between struggling with long hold times and frustrated members vs. having a streamlined way to provide exceptional service on every call. With the steep increase in call volume in recent years, the contact center is a prime target for technology initiatives. 

In today’s regulatory environment, organizations are faced with ever-changing laws and regulations being frequently introduced by various governmental bodies and institutions. Many facing the predicament of implementing measures to adhere to these regulations are finding it challenging to stay up-to-date with the changes ensuring they meet sufficient compliance standards.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs.

The National Credit Union Administration's (NCUA) Letter to Credit Unions 22-CU-07 released this week states the agency supports initiatives by federally insured credit unions to better serve their members, as the rapid emergence of financial technology is creating opportunities for credit unions to increase speed of service, improve security, and expand products and services.

The latest report on the National Credit Union Share Insurance Fund (NCUSIF) showed total income of $61.8 million and a net loss of $54.4 million for the quarter ending March 31, 2022, according to a presentation during the National Credit Union Administration's (NCUA) monthly May board meeting this past week.

Are you making the absolute most of your ability to portfolio lend? We have already seen a dramatic increase in mortgage rates from the historic lows of the past few years. If rates continue to increase over the next few years, loans will become more expensive for your members, and this will put pressure on your credit union’s growth.

The rapid rise of technology advancements is taking the banking world by storm and streamlining consumer experience. Contactless payment options, mobile finance apps, and even cryptocurrency compatibility are helping consumers simplify their banking processes.

In a recently published article, CreditUnions.com featured Damian Alarcon, director and assistant vice president of community relations at Travis CU (headquartered in Vacaville, CA): At $4.7 billion in assets, Travis CU not only earned the Military Saves Designation of Excellence in 2021, it also was named U.S. Air Force Distinguished Credit Union of the Year two years in a row.

In a recently published article, CreditUnions.com featured Richard Roark, senior vice president and chief technology officer at Bay FCU (headquartered in Capitola, CA): The phrase “the more things change, the more they stay the same” was coined in 1849 France. But it is applicable to cybersecurity at U.S. financial cooperatives in 2022.

In a recently published article, CreditUnions.com featured USC CU (headquartered in Los Angeles, CA): An unlikely trio has teamed up in Los Angeles to help struggling retailers adapt to the ever-changing post-pandemic business environment.

This year's two-hour online Your Economy — Your Credit Union conference will equip credit unions for navigating the unpredictable economies of California and Nevada in 2023, as well as the housing market and local homeowner affordability.

More than two years since the COVID-19 pandemic recession devastated the economy, total non-farm employment in California has recovered 91.5 percent of jobs lost in the labor market, and Nevada has crawled back 99.5 percent. However, these recoveries don’t account for lost ground and opportunity costs coming out of the pandemic.

Inclusiv’s 2022 Racial Equity Grant Fund (previously known as the Inclusiv Resilience Fund) was established to advance racial equity and build a more inclusive economy through credit unions that lead-by and serve communities of color.

Two credit union industry regulatory board meetings are coming next week on the same day (May 26): one hosted by the National Credit Union Administration (NCUA), and the other hosted by the California Privacy Protection Agency (CPPA).

Record-high banking deposits are poised to finally decline going into summer of 2022 as local households continue drawing down their unprecedented savings to afford today’s price inflation for goods and services. This is according to the latest analysis by the California and Nevada Credit Union Leagues (view 13 local-trend geographies across California and Nevada here).

The U.S. credit union industry’s aggregate balance sheet ended first-quarter 2022 by experiencing a healthy boost in loan growth contrasted by a noticeable downshift in deposit growth compared to the year-ago period — led by first mortgages (home loans), used autos, credit cards, and business/commercial loans.

National Credit Union Administration (NCUA) Board Chairman Todd Harper shared his sentiments following the approval of H.R. 7022 (the Strengthening Cybersecurity for the Financial Sector Act of 2022) by the House Financial Services Committee this week.

On Wednesday, the House Financial Services Committee advanced H.R. 7003, which would allow federally chartered credit unions to serve so-called "banking deserts." Committee Chairwoman Maxine Waters (D-CA) is author of the bill.

Gen Z is the newest “it” generation on the scene, and their economic power is growing rapidly. By 2030, Gen Z’s income is expected to quintuple and will represent at least 27% of total global income.

Credit unions and community banks waste millions of dollars every year. The easiest, fastest way to stop wasting your money is your vendor management program.  As a part of this series, Maple Street’s pros explore ways your institution could be wasting money and what you can do to fix the problem.

Results from the Credit Union National Association's (CUNA) 2022 National Voter Poll unambiguously reveals that credit union members view their credit unions much more favorably than non-members view their banks and/or other service providers across every performance metric evaluated.

Origence, a CU Direct brand, has announced it delivered a record amount in credit union loans through its lending platforms in the first quarter of 2022.

Mortgage lending licensees must file their Residential Mortgage Loan Report for calendar year 2021 (Holden Act Report) no later than June 13.

Russia's conflict in Ukraine continues to raise concerns about the potential for cyberattacks against the financial services sector in the United States, including credit unions.

The National Credit Union Administration (NCUA) wants to ensure that eligible low-income designated credit unions maximize cybersecurity and infrastructure grants from the 2022 Community Development Revolving Loan Fund (CDRLF).

The Nevada Credit Union League has announced a partnership with the Nevada Attorney General’s Office and Nevada Bankers Association to combat and prevent imposter banking scams by raising consumer awareness on how Nevadans can protect themselves.

The California and Nevada Credit Union Leagues are celebrating Asian American and Pacific Islander Heritage Month by highlighting credit unions that uniquely serve members in these communities. Two of these credit unions are Nikkei CU and Mabuhay CU that under the guidance of President and CEO Jon Hernandez epitomize the credit union philosophy of “people helping people”.  In this feature, Hernandez talks about the history and opportunity of these credit unions.

The Nevada Credit Union League has announced a partnership with the Nevada Attorney General’s Office and Nevada Bankers Association to combat and prevent imposter banking scams by raising consumer awareness on how Nevadans can protect themselves.

Five federal regulatory agencies jointly issued revised questions and answers (Q&As) regarding federal flood insurance law and the agencies’ implementing regulations. These Q&As replace those originally published by the agencies in 2009 and 2011 and consolidate Q&As proposed by the agencies in 2020 and 2021. The revised Q&As reflect significant changes to the flood insurance requirements made by federal law in recent years.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs. Please check your email or click here to access the newsletter using your email address and your California or Nevada Credit Union Leagues member-only password.

Unemployment is at pre-pandemic levels, but one in four workers quit their jobs in the last year, according to CNBC. Retaining top talent is going to be more than maintaining the status quo from now on—identifying and rewarding your best performers is key.

The newly elected California Assemblymember Lori Wilson (Assembly District 11) recently sat down with local credit unions for a meet-and-greet event at Travis CU's headquarters in Vacaville.

California Gov. Gavin Newsom has signed an executive order for the state to begin the process of creating a regulatory approach for blockchain, cryptocurrency, and web3 technologies to “spur responsible innovation while protecting California consumers.”

Wednesday was a busy day for hearings in the Senate on Capitol Hill. The morning started with a hearing in the Senate Judiciary Committee to review interchange fees.

The latest Credit Union Awareness update webinar presented the most recent figures on how this unique digital advertising campaign continues making huge strides when it comes to consumer awareness of financial services in the marketplace and how credit unions are different.

The latest edition of Consumer Compliance Outlook from the Federal Reserve Board is now available! This issue includes important topics for credit unions and other financial institutions.

With the Consumer Financial Protection Bureau (CFPB) examining artificial-intelligence-based lending for signs of bias, credit unions and banks are under pressure to add transparency to decision-making.

Interested in educating your community on financial wellness? Try Zogo: an award-winning, gamified financial education app, which rewards users with gift cards to popular retailers for completing bite-sized financial education lessons.

CU FinHealth was successful in bringing together industry leaders to examine how credit unions are measuring financial health, working to strengthen it, and documenting and sharing the results. Conference attendees accomplished this goal and so much more in San Antonio, TX this past week.

The nomination period for the 2022 Credit Union Rock Star program, sponsored by Fiserv, is officially open. Credit Union Magazine will feature this year’s class of Rock Stars in a special digital edition of the magazine.

The California Division of Occupational Safety and Health (Cal/OSHA) Standards Board recently approved to readopt its COVID-19 prevention emergency temporary standards (ETS).

The Credit Union Awareness program continues to gain traction. Designed to increase consumer consideration for credit unions via a paid digital advertising campaign, the national program has garnered more than four billion impressions, according to the Credit Union National Association (CUNA). YourMoneyFurther.com—the consumer-facing site that features information to help consumers gain insights on the credit union difference—had more than six million visits in 2021 alone.

In a recently published article, CreditUnions.com featured Damian Alarcon, director of community relations for Travis CU (headquartered in Vacaville, CA):

In his most recent video-update for credit union senior management and board directors across California and Nevada, Economist Robert Eyler provides a quick three-minute conversation on what’s happening in the current economy.

The latest edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs. Please check your email or click here to access the newsletter using your email address and your California or Nevada Credit Union Leagues member-only password.

Over the past few years, the increased risk of identity theft has caused growing fears amongst consumers (your members). In October 2021, a CU Times article was published, revealing data that described the trepidation that members feel about the security of their identities. In addition, it referenced a study conducted on the life events that consumers fear the most, with identity theft being the top concern. The cybersecurity landscape has become even more threatening almost a year later, so it's reasonable to assume that consumers' fears have only intensified.

Financial technology leader and California and Nevada Credit Union Leagues business partner FIS® announced its Banking-as-a-Service Hub, enabling credit unions and other financial insitutions and fintechs to build the digital banking and payments ecosystems they need to deliver innovation to merchants and consumers. The FIS Banking-as-a-Service Hub provides a full suite of banking and payments capabilities for institutions of all sizes, allowing for more opportunities to deliver embedded finance solutions for superior customer experiences.

This week concludes Financial Capability Month. The California and Nevada Credit Union Leagues have been celebrating credit unions and the important role they play in financial literacy. In this feature, Michelle Hale, community outreach supervisor at Greater Nevada CU, discusses the credit union’s financial literacy efforts and her role in driving that mission.

The California Credit Union League and member credit unions have been incredibly busy over the past two weeks engaging candidates for office at both the state and federal levels.

The California Franchise Tax Board (FTB) is alerting financial institutions that due to technical issues with the FTB’s online payment application, taxpayers may have made duplicate payments in error, thus possibly causing non-sufficient funds (NSF) activities in taxpayer accounts.

This week, the National Credit Union Administration (NCUA) Board received a comprehensive briefing on the latest regarding cybersecurity (including the current threat landscape), as well as the agency's diversity, equity and inclusion (DEI) program.

The California and Nevada Credit Union Leagues hosted an online discussion on Thursday with Kelly Lay, director of the Office of Examination and Insurance for the National Credit Union Administration (NCUA). Lay outlined the agency’s supervisory priorities for 2022 and took questions at the end.

Effective underwriting plays a critical role in a credit union’s financial wellbeing. But can too much focus on the loan compromise member financial health? According to SchoolsFirst FCU, the answer is “yes.”

The California and Nevada Credit Union Leagues continue to celebrate Financial Capability Month! In this video feature, Tena Lozano, executive director at the Richard Myles Johnson Foundation—the Leagues’ exclusive financial education partner—sits down with Excite CU Community Relations Manager Dora Beyer to discuss the credit union’s community outreach efforts, including their Sunday Friends program and the work they do with foster youth and workplace development.

While the pandemic shined a bright light on a number of latent societal issues, financial inequity was one of the most pertinent for credit unions. Driving right at the heart of the credit union purpose, the unavoidable fact that financial access in the U.S. is far from equal reenergized financial inclusion efforts across the industry.

The Credit Union Times recently reported on a study from MetLife that found job satisfaction has hit a 20-year low. No one is more dissatisfied than younger workers. These young people thrive and will stay longer when companies support their social and mental well-being and give them interesting, meaningful work to do.