Latest News & VACUL Headlines
- Big Changes for Credit Union Financial Reporting in 1Q2022
April 6, 2022Credit unions are facing hundreds of changes to their financial reporting in the first quarter of 2022, as a call report restructured by the National Credit Union Administration takes effect.
- Vizo Financial Raises $62,525 for Ukrainian Credit Union Displacement Fund
April 6, 2022Vizo Financial Corporate Credit Union was ready and willing to join the Worldwide Foundation of Credit Union’s fundraising efforts for the Ukrainian Credit Union Displacement Fund. In doing so, the corporate credit union raised $62,525 in support of war-torn Ukraine over a period of just four weeks.
- League's Emerging Professionals Network Draws 30 at Richmond Event
April 5, 2022The Virginia Credit Union League’s Emerging Professionals Network held a networking working happy hour on March 30 at Hardywood Craft Brewery in Richmond.
- Letter to Credit Unions (22-CU-06) NCUA to Begin Phase 2 of Resuming Onsite Operations
April 5, 2022Based on new guidance from the Centers for Disease Control and Prevention (CDC) and the Safer Federal Workforce Task Force, the agency will enter the second phase (Phase 2) of resuming its onsite operations on April 11, 2022. Phase 2 permits NCUA staff to volunteer to work onsite, including conducting examination and supervision work at credit unions located in counties with low or moderate COVID-19 community levels. Read the Letter to Credit Unions
- NCUA Should Issue Succession Planning Proposal as Guidance
April 5, 2022CUNA supports the overall objective of NCUA’s succession planning proposal but feels the provisions would be more appropriate as guidance than regulation, it wrote to NCUA Monday. The proposal would require federal credit union boards of directors establish and adhere to process for succession planning for key positions.
- Cryptocurrency Demand Fuels Record Level of Private Equity Blockchain Investment
April 5, 2022Demand for cryptocurrency is sustaining record levels of private equity and venture capital investment in blockchain, the technology that powers it.
- Lookout for Scams Targeting Ukraine Relief Efforts
April 5, 2022Ukrainian relief efforts are being launched across the nation. Unfortunately, as with most national or global tragedies, the scam artists quickly arrive and prey on the empathy of individuals, including credit union members, with fundraising schemes. If you are making donations, it is always encouraged to conduct proper due diligence to ensure funds are going to legitimate organizations and recipients. Learn more
- FASB Clarification on Several CECL-Related Standards Updates
April 5, 2022The current expected credit losses (CECL) accounting standard was updated by the Financial Accounting Standards Board (FASB) March 31 in a media advisory.
- BayPort Donates $10,000 to The Ukrainian Credit Union Displacement Fund
April 5, 2022BayPort Credit Union announced it is donating $10,000 to The Ukrainian Credit Union Displacement Fund through the Worldwide Foundation of Credit Unions. Learn more
- OCC's Hsu Zeroes in On Large Regional Banks as Source of Systemic Risk
April 4, 2022Large regional banks could become the country’s next too big to fail firms, acting Comptroller Michael Hsu said, and the agency it looking at ways of incorporating resolvability into its bank merger review process.