Latest News & VACUL Headlines
- Credit Card Charge-Off, Delinquency Rates Muted Amid Slow Normalization
August 19, 2022Net charge-off and delinquency rates at major credit card issuers were muted in July as industry experts suggested that credit metrics will continue to normalize slowly through the end of the year.
- Demand for Personal Loans Pressures CUs, Banks, Fintechs
August 19, 2022Banks were already under interest rate pressure on personal loans from firms including SoFi and Marcus, and new data reveals that credit unions are also taking a larger chunk of that lending pie.
- International Credit Union Day Set for Oct. 20; Resources Available
August 19, 2022International Credit Union (ICU) Day® celebrates the spirit of the global credit union movement. The day is recognized to reflect upon the credit union movement's history, promote its achievements, recognize hard work and share member experiences. International Credit Union (ICU) Day® has been celebrated on the third Thursday of October since 1948.
- ACUM Announces 2022 'Herstory' Hall of Fame Honorees
August 18, 2022America’s Credit Union Museum (ACUM) announced the inductees of its newest exhibit, “Credit Union Women Making History: Herstory”, which highlights a range of credit union women and their achievements in the credit union industry. Set on honoring the past, present and future of incredible women making history, “Herstory” will be an interactive exhibit showcasing women’s stories never heard before.
- BayPort CU Joins With Local Corporations to Launch $500,000 Accelerating Change Together Grant
August 18, 2022To address gaps in services for Hampton Roads communities, three leading corporations headquartered in Newport News, Virginia – HII, Ferguson, and BayPort Credit Union – have partnered to fund a $500,000, three-year transformation grant, called Accelerating Change Together (ACT). The inaugural year's focus will be on Education and Workforce Development.
- League Announces Winners of State-Level Social Responsibility Awards
August 18, 2022The Virginia Credit Union League is pleased to announce the 2022 recipients of the Dora Maxwell Social Responsibility Community Service Award, the Louise Herring Philosophy-in-Action Member Service Award and the Desjardins Awards for Financial Education. The awards are given annually at the state and national levels, with credit unions competing in categories based on their total assets.
- NAFCU Offers 14 Recommendations for NCUA When it Comes to Improving Regs
August 18, 2022NAFCU has 14 recommendations for improving NCUA regulations and has also made new requests regarding credit union meeting and voting requirements and deposit activity rules. The trade group made its recommendations in a letter to NCUA in response to the agency’s annual regulatory review.
- IRS Expands Crypto Question on Draft Version of 1040
August 18, 2022The Internal Revenue Service has released a draft version of the Form 1040 for next tax season, with an expanded question about virtual currencies, now referred to as digital assets, along with other changes on drafts of that form and related forms and schedules.
- Home Sales Data Shows the Housing Market is Normalizing
August 18, 2022The housing market is finally starting to normalize as home sales declined by a double-digit percentage while inventory similarly rose between June and July, according to data from Remax.
- CU Trades to NCUA: Update Field of Membership Rules
August 18, 2022The NCUA should amend its field-of-membership (FOM) rules to make it easier for people to join credit unions and help those institutions grow, the two national industry trade groups told the agency this week.