Latest News & VACUL Headlines
- CUs Urged to Write Sens. Warner, Kaine in Opposition to Move to Attach Interchange Bill to NDAA
July 19, 2023Credit unions: We are urging you to write Sens. Mark Warner and Tim Kaine in opposition to the interchange bill being included as an amendment to the National Defense Authorization Act (NDAA).
- NAFCU Compliance Blog: An Overview of the Reasonable Cause to Doubt Collectibility Exception under Regulation CC
July 19, 2023The NAFCU Compliance Blog's latest post discusses the reasonable cause to doubt collectibility exception under Regulation CC.
- Credit Unions Report a Record-Setting Plunge in Savings Balances
July 18, 2023Credit unions saw savings account balances plunge in March, as members withdrew funds to cover daily needs and to search for higher yields.
- NCUA Chairman Todd M. Harper Delivered Remarks at the International Credit Union Regulators’ Network Annual Meeting
July 18, 2023National Credit Union Administration Chairman Todd M. Harper spoke yesterday before the audience of the International Credit Union Regulators’ Network Annual Meeting in Alexandria, Virginia.
- League Monitoring Senate Debate on NDAA for Possible Inclusion of Fiercely Opposed Interchange Bill
July 17, 2023The U.S. Senate this week is debating its version of the National Defense Authorization Act and your League is closely monitoring any moves to attach the fiercely opposed interchange bill to the must-pass NDAA. In a letter today to Sens. Warner and Kaine, we urged them to oppose any effort to include interchange language in the NDAA or to include another amendment calling for the study of interchange fees paid at military commissaries and exchanges.
- Member Expulsion Rule on NCUA Board’s July 20 Agenda
July 17, 2023The NCUA Board will vote at its July 20 board meeting on a final credit union bylaws rule that updates the member expulsion process. The meeting will be streamed live on NCUA.gov starting at 10 a.m.
- League Announces Scholarship Winner for AACUC 25th Annual Conference
July 14, 2023The African American Credit Union Coalition (AACUC) will hold its 25th Anniversary Annual Conference July 16-20 at the Atlanta Evergreen Resort. The Virginia Credit Union League provides a scholarship to a credit union professional or volunteer to attend the conference. This year's scholarship winner is Chartway Credit Union's Melisande Corlett.
- Virginia Credit Union League, Dynamic Quest in New Partnership to Provide CUs with IT Assistance
July 13, 2023Recognizing credit unions’ need to manage increasingly complex digital environments, the Virginia Credit Union League is pleased to announce its new partnership with Dynamic Quest, a managed information technology service provider, specializing in delivering stable, secure and reliable IT solutions.
- US Credit Unions' 2022 Mortgage Originations Fall YOY
July 13, 2023The US credit unions with the most mortgage originations posted a year-over-year decline in funded loans and the loan approval rate. Funded loans fell 17.2% in 2022 from a year earlier, while the loan approval rate dropped by 2.1 percentage points, based on recently released Home Mortgage Disclosure Act data compiled by S&P Global Market Intelligence. Overall the credit union industry funded 1.3 million loans in 2022 with an approval rate of 61.23%.
- CUNA’s Latest FedNow Webinar Scheduled for July 13
July 12, 2023CUNA’s latest webinar on the FedNow service will be held at 3 p.m., July 13, and is free to CUNA members. The webinar, “Explore FedNow Service Benefits and Use Cases for Your Credit Union” is part four of CUNA’s FedNow webinar series.