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The Virginia League proudly sponsors an annual scholarship to the African American Credit Union Coalition's (AACUC) Annual Conference. The scholarship was established in honor of retired TruEnergy Federal Credit Union President/CEO Lynette Smith, a tireless credit union advocate and a champion for the credit union movement at both the state and national levels. She is a past chairwoman of the AACUC.
We were pleased to award this year's Lynette Smith Scholarship to Chartway Credit Union's Melisande Corlett, who was so moved by the experience and opportunity, she's written the following post about the Annual Conference and what the networking opportunities and education sessions meant to her, personally and professionally.
The Power of Permissioned Data in Lending presented by TrueStage:
Permissioned data is detailed, highly descriptive of member's financial behavior, but requires members to give access. While this data can be broken into known categories like income, debt, and identity, it also includes cash flows, payments, and more. Today, there is an overwhelming amount of permissioned data coming from many different sources. Credit unions must use this data to make better, faster, and fairer decisions in consumer and business lending, but struggle to identify the right data sources, implement the APIs, and use this data to make decisions. This session will provide a digestible overview of these data categories, use cases, and best practices from credit unions who are approving and funding more deposit, loan, and credit applications and reaching new members.
Your League and credit unions are hosting three more legislative receptions across the Commonwealth this month. Next week we will be in at Twisted Track Brewpub in Roanoke (Aug. 22) and currently have 8 legislators RSVP’d to join us including Congressman Morgan Griffith (R-09). On Thursday (Aug. 24), we will be in Richmond at the Credit Union House of Virginia with 10 state elected officials including House Speaker Todd Gilbert.
The following week (Aug. 30) Northwest FCU will host our Northern Virginia reception which currently has over a dozen legislative RSVPs with Congresswoman Jennifer Wexton (D-10) serving as our keynote speaker. We hope that you will join us in advocating for your credit union and the Virginia credit union system at any of these free networking events!
Gain an understanding of what makes credit unions tick and our role in the financial services marketplace, including the financials that drive our success, the philosophy on which our industry was built, and the obligation each of us has in advocating for credit unions.
Note: This is the second module of our EMERGE Leadership Certification program, but anyone interested in this program is encouraged to register. In fact, this program is also ideal for newer employees and officials who are looking for an introduction to the credit union industry.
The Virginia Credit Union League is pleased to announce the winners of its 2023 Social Responsibility & Member Service Awards. Each year, the League and the Credit Union National Association sponsor four awards competitions to recognize credit unions for their work in financial education, community service and outreach, and excellence in member service.
“Every day, credit unions showcase the ‘Credit Union Difference’ through their service to members and through their support of the communities they call home,” said Virginia Credit Union League President/CEO Carrie Hunt. “Whether it’s preparing young people to successfully manage their finances, helping a member become a first-time homeowner or supporting the good work of local charities, credit unions understand the importance of putting people first. We’re proud to honor these Virginia-based credit unions for their commitment.”
Gov. Glenn Younkin yesterday visited Peoples Advantage Federal Credit Union to tour its Petersburg-based Financial Empowerment Center. Members of the Petersburg City Council also attended, as did League President/CEO Carrie Hunt. Gov. Youngkin learned more about the credit union and its work to aid economically vulnerable individuals in Petersburg. PAFCU has a second center in Richmond. Aug. 14 marked the anniversary of the Gov. Youngkin’s Partnership for Petersburg initiative.
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