Latest News & VACUL Headlines
- Carrie's Latest Blog Post: Dolly Parton, Overdraft Programs and the Credit Union Mission!
April 8, 2022Dolly Parton, Overdraft Programs and the Credit Union Mission! In her latest blog post, League President/CEO Carrie Hunt discusses the lessons we can learn from Dolly in staying on brand -- in particular, the importance of staying on brand in the face of growing attacks on overdraft protection programs and fee income, in general. Lawmakers and regulators intitially targeted big banks and their well-documented abuses. Unfortunately, we're being unfairly tarred with the same brush ...
- Economic Update Examines Financial Well-Being Metrics
April 8, 2022CUNA Chief Economist Mike Schenk describes financial well-being metrics recently gathered and summarized via CUNA research in this month’s Economic Update video. “Survey results confirm that the nation's not-for-profit, member-owned credit unions are not only consumers’ best financial partner, but they also advance the communities they serve,” Schenk said.
- League Notes Member Demand, Benefits of CUs' Overdraft Protection Programs
April 8, 2022Your League has filed a letter for the record with the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, following a hearing last week on overdraft protection programs.
- CU Lending Trends: First Mortgage, Used Car Lending Gains
April 8, 2022CUNA’s latest “Monthly Credit Union Estimates” showed first mortgages continue to be the strongest gainer in portfolios despite the national drop in originations. In part, that’s because refinance activity can cancel out on the balance sheet, and in part because credit unions have been selling fewer first mortgages on the secondary market.
- UVA Community Credit Union Announces New Talent in Mortgage Division
April 7, 2022UVA Community Credit Union is pleased to announce Thomas McGloon as Regional Mortgage Director of Member Options, LLC, the mortgage division of UVA Community Credit Union.
- Crossing $10B in Total Assets Still Rare for US Credit Unions
April 7, 2022Sitting above $10 billion in total assets is an exclusive club for credit unions, with only 19 out of 5,019 operating credit unions in the U.S. above the critical threshold, compared to 155 out of 4,682 top tier U.S. banks at Dec. 31, 2021, excluding nondepository trusts.
- Minnesota Regulator Rejects Credit Union-Bank Deal; Seventh State to Stifle Such Deals
April 7, 2022The Minnesota Department of Commerce denied Eau Claire, Wis.-based Royal CU's proposed acquisition of Lindstrom, Minn.-based Lake Area Bank after concluding that a Minnesota state-chartered bank may be acquired only by another bank, savings bank or trust company under Minnesota law, ABA Banking Journal reported April 4.
- Senate Banking Committee Chair Urges Fed, OCC to Review Big Bank M&A Oversight
April 7, 2022Senate Banking Committee Chairman Sherrod Brown, D-Ohio, urged the Federal Reserve Board and the Office of the Comptroller of the Currency to join the Federal Deposit Insurance Corp. in reviewing and reconsidering their approach to big bank mergers. Read more
- Yellen Calls for 'Comprehensive' Crypto Regulations
April 7, 2022Treasury Secretary Janet Yellen outlined the Treasury Department’s approach to regulating digital assets, marking the first time she’s substantially laid out her thoughts on the issue since President Biden’s executive order last month.
- Who Deserves to Know About Bank Cyber Threats?
April 7, 2022As banks prepare for new rules governing when cybersecurity attacks must be reported to federal regulators, a new survey shows customers and the general public are still left in the dark about many threats.