League Holds Annual Meeting Via Webinar; Announces Board Elections CONTACT: Lewis Wood Vice President, Public Relations & Communication 800.768.3344, ext. 629 lwood@vacul.org In a first for the organization, the Virginia Credit Union League today held a virtual Annual Business Session and Membership Meeting. Thirty-three credit unions participated in the webinar, which featured remarks from National Credit Union Administration Chairman Rodney Hood. “I’m heartened by all the stories I hear of credit unions going above and beyond in serving members during this pandemic,” said Chairman Hood. “At NCUA, our focus is on ensuring credit unions can respond to the needs of their member-owners during this difficult time. We want to be there every step of the way as you navigate this challenging environment.” Chairman Hood also noted recent NCUA actions to aid credit unions in addressing the pandemic’s challenges, including new flexibility related to the Central Liquidity Fund (CLF), raising the real estate appraisal threshold to $400,000, identification of credit union employees as essential workers and providing flexibility for federal charters in holding annual meetings. He also spotlighted interagency guidance from regulators encouraging financial institutions to work prudently with members and customers who may be unable to meet their payment obligations owed to illness or because of financial hardship owed to the pandemic. Having ended his first term on the NCUA Board in 2009, in the midst of the financial crisis and the Great Recession, Chairman Hood said he’s confident that credit unions will ably weather the pandemic-caused economic downturn. More than a decade ago, we were facing the most significant recession our nation had seen in decades, he said, “but in an astonishing testament to our resiliency, credit unions came back stronger than ever.” The Virginia Credit Union League also announced election results for the League Board of Directors. Elected to three-year terms on the League Board were: Lisa Lambrecht (ValleyStar Credit Union) – Region IV Representative (Roanoke, Lynchburg, Danville, Martinsville and southwestern Virginia). (Newly elected.) Jeff Bentley (Northwest Federal Credit Union) – At-Large Director. (Served since 2019.) Paul Muse (1st Advantage Federal Credit Union) At-Large Director. (Served since 2016.) Following the Annual Business Session and Membership Meeting, the League Board met and elected the following officers: Patsy Stuard (Fort Lee Federal Credit Union) – Chairman Joe Thomas (NextMark Credit Union) – Vice Chairman Patsy Smith (Peoples Advantage Federal Credit Union) – Treasurer Jeff Bentley (Northwest Federal Credit Union) – Secretary The remaining members of the Board are: Lisa Lambrecht (ValleyStar Credit Union) – Region IV Representative Stan Leicester (BayPort Credit Union) – Region I Representative Paul Muse (1st Advantage Federal Credit Union) – At-Large Representative Chris Williams (Henrico Federal Credit Union) – At-Large Director and Immediate Past Chairman Janine Williams (UVA Community Credit Union) – Region III Representative During the webinar, credit unions also saluted Blue Eagle Credit Union’s Cliff DeMars, who retired from the League Board after almost 20 years of service, including service as League Chairman. A past recipient of the James P. Kirsch Lifetime Achievement Award, DeMars has been a volunteer within the credit union system for 60 years. DeMars thanked his fellow directors and League staff for making his service on the Board so rewarding. “This comes from my heart. There is no greater honor than that which comes from your peers,” said DeMars. “So from my heart, thank you!” Chris Williams (Henrico Federal Credit Union) also delivered his final report as chairman to the membership. “This is undoubtedly a difficult and demanding time, one which we’ve all struggled to process. Know that your League and our partners are working now to identify and prepare for the issues that will likely face us in the days ahead,” said Williams. “We know that we’ll need to work with lawmakers and regulators at both the state and federal levels to address new economic, regulatory, financial and operational challenges. We know, too, we can count on you to be actively engaged in that effort. We are in this together, and we’ll get through this together.” The League Annual Report is available online. View the document Download the document (PDF, 12MB)
