Latest News & VACUL Headlines
- Efforts to Halt Credit Union-Bank Deals Squashed in Tennessee
June 3, 2022The bank lobby lost a battle in Tennessee, but it has not lost the war, as decisions regarding credit union purchases of banks in two other states remain outstanding.
- US FIs Fear Slowdown in Mortgage Activity as Rates Skyrocket
June 3, 2022As of May 27, the average rate for a 30-year fixed mortgage stood at 5.12% while a 15-year fixed rate was at 4.41%, up from between 2% and 3.5% for both throughout much of 2020 and all of 2021. Bankers are fearful of how rising rates will impact mortgage banking activity.
- Fed Starts Experiment of Letting $8.9 Trillion Portfolio Shrink
June 3, 2022The Federal Reserve is about to start shrinking its $8.9 trillion balance sheet, deploying a second tool along side higher interest rates to curb inflation, though officials don’t know just how effective it will be.
- Young Members Save Over $4.7M During National Youth Saving Challenge
June 3, 2022Young credit union members took the theme of “Save Small. Dream Big.” and made that a reality by depositing $4,799,110 into their savings accounts during the 2022 National Youth Savings Challenge™.
- CUNA Experience Learning Live! Conference Set for Oct. 2-5; Entries for ELLy Awards Sought
June 3, 2022CUNA Experience Learning Live! (ELL!) conference returns to an in-person format Oct. 2-5 in San Diego. The ELL! event is an annual opportunity for trainers to learn from industry experts and to be recognized with CUNA ELLy Awards for outstanding work.
- Registration Open for CUNA Mutual Group’s 13th Annual Discovery Conference
June 3, 2022Registration is now open for CUNA Mutual Group’s 13th Annual Discovery Conference on Aug. 11, 2022. The no-cost, all-day event will feature eight breakout sessions, two keynote addresses and two panel discussions - for a total of 12 sessions.
- NAFCU Compliance Blog: Credit Unions and the Automatic Stay
June 3, 2022Under 11 U.S.C. 362, once a debtor files for bankruptcy, an automatic stay is placed on most collection activity against the debtor. This stay prevents a creditor from taking any collection activity against the debtor, sometimes even when the credit union is merely reminding the debtor of their monthly payment (e.g. “your bill is ready” emails). As such, it is important that credit unions be on the lookout for notices that a member has declared bankruptcy.
- Richmond-Area Credit Unions Hit the Links in Support of VACUPAC
June 2, 2022Fifty-four golfers teed off in the Richmond-area Bill Dawson VACUPAC Golf Tournament on Thursday. Hosted and organized by Henrico Federal Credit Union, the annual fundraiser supports the Virginia Credit Union Political Action Committee (VACUPAC), the political action committee for Virginia-based credit unions.
- CUNA Releases May Economic Update
June 1, 2022In the May 2022 CUNA Economic Update, Chief Economist Mike Schenk discusses the overall health of the economy, the Federal Reserve’s next steps, and the stock market.
- The Department of Justice Combats Exploitation, Offers Resources to Protect Older Adults
June 1, 2022As part of its ongoing efforts to combat the exploitation of older Americans, the Department of Justice has resources available for you and your customers, members and clients. The Department's website has a roadmap to help seniors and advocates report exploitation, as well as a tool to help locate resources in various states. Additionally, each U.S. Attorney's Office has a designated elder justice coordinator. Consider reaching out to your local office if you identify significant exploitation of an older adult.