CURRENT Newsletter | January 6, 2023 - Virginia Credit Union League

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CURRENT Newsletter | January 6, 2023

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General Assembly Session Convenes Jan. 11; CUs Ready for Jan. 19 Advocacy Day at the Capitol

State-level advocacy is a year-round endeavor for your League, and we’ve geared up for a fast start at the 2023 Virginia General Assembly. The session kicks off Jan. 11, with adjournment scheduled for Feb. 25.

We’re working with lawmakers to introduce a bill that would allow state-chartered credit unions to hold digital assets for their members, similar to the authority granted banks last year. We’ll pass on bill information as soon as we have it.

We’re also looking forward to seeing many of you on Jan. 19 for our premier state-level advocacy event – Credit Union Day at the General Assembly! If you haven’t yet registered, please do so. We’re looking for 200 (or more) credit union advocates to join us for visits with state lawmakers. Please share your credit union’s story and how you’re serving your members and community. Your League is scheduling visits with lawmakers and we’ll keep you posted on scheduled meetings once they are finalized. You can find your state-level representatives here.

Special Elections Set for Jan. 10

A reminder: Voters will go to the polls on Jan. 10 for special elections in the following districts: 7^th Senate District (Norfolk/Virginia Beach); 24^th House District (Amherst/Augusta/Bath, etc.), and the 35^th House District (Fairfax County). Your League is anticipating a busy General Assembly session, and we’ll be watching these special elections closely as we work to advance our agenda.

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League, CU Reps Attend Events in Washington as 118th Congress Begins

League President/CEO Carrie Hunt and Chief Advocacy Officer JT Blau traveled to Washington this week to meet with Virginia's Congressional Delegation and participate in CUNA’s welcome reception on Wednesday at the U.S. Capitol Visitor Center.

League Chairman Joe Thomas (NextMark Credit Union) and staffers from the credit union who are members of the League’s Emerging Professionals Network also attended the reception.

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Bankruptcy, Collection Webinars Set for Jan. 18-19; Register Now

Join credit union attorney and collections consultant, David Reed, for an exciting virtual training event as he highlights the latest techniques, tips and trends to maximize your collections function in the “new world order.” Note: Flat-free registration covers all attendees from your credit union!

Learn more and register

(Registration for this event is being coordinated by the Kentucky Credit Union League.)

CUNA GAC: Register Now for CU Industry’s Premier National Advocacy Event

Sekou Andrews will headline the opening session of the CUNA Governmental Affairs Conference (GAC) in Washington, DC, running from Feb. 26 to March 2. Seamlessly blending inspirational speaking with spoken word poetry, Andrews will offer a creative perspective on embracing failure, encouraging unconventional thinking and being the kind of leader who walks your innovation talk.

Don't miss THE credit union advocacy event of the year! You'll hear world-class keynote speakers like former U.S. Secretary of State Condoleezza Rice and Andrews, attend deep-dive breakouts, collaborate with peers, learn from industry experts, see hundreds of exhibitors and take it all in—the networking, the receptions, the deep inspiration and the power of the credit union movement. It's time to register and book your travel!

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Number of CUs Opting into Streamlined Framework Increased in Q3

The number of credit unions opting into a new, streamlined framework for reporting their complex credit union leverage grew in the third quarter, as did the number opting into the framework via a two-quarter grace period.

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CRS Report: CFPB Appeals Court Ruling Could Upend Industry

The federal appeals court ruling that found the CFPB’s funding mechanism unconstitutional threatens to wreak havoc on the financial services industry, the Congressional Research Service (CRS) said in a report released Wednesday.

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Registration Open for NCUA Webinar on Keys to Credit Unions’ Success

The National Credit Union Administration on January 18 will host a webinar discussing elements to successful credit union operations.

Registration for this event is now open.