Latest News & VACUL Headlines
- CUs Pleased With Legislative Wins, But General Assembly Adjourns Without Budget Deal
February 27, 2023The Virginia General Assembly ended its legislative session Saturday without reaching agreement on sweeping changes to the state budget, leaving both tax cuts and massive new spending on the table as Republicans and Democrats couldn’t break a late deadlock over priorities. Your League is pleased to note a couple of key wins this session, including our cryptocurrency custody services measure and a measure that codifies the Virginia Community Development Financial Institutions Fund.
- CUs, League Host Sen. Mark Warner at Capitol Hill Reception
February 27, 2023Virginia's credit unions and your League hosted U.S. Sen. Mark Warner tonight at a reception on Capitol Hill. Other members of our Congressional Delegation are also expected to attend.
- League, CUs Wrap Up Successful First Days of GAC
February 27, 2023The Virginia Credit Union League and Virginia's Credit Unions are excited to be a part of the Credit Union National Association's Governmental Affairs Conference! Here's a quick summary of the festivities for Day 1 and 2!
- Expand Your CU Revenue Streams with Wealth Management Services
February 27, 2023Wealth management services may not be the first thing that comes to mind when people think of credit unions, but that doesn’t mean it shouldn’t be a high priority for credit unions this year.
- Chartway Promise Foundation Hosts Night at the ODU Arena to Bring Joy, Hope, and Smiles to Children Facing Medical Hardship
February 24, 2023The Chartway Promise Foundation – the charitable arm of Chartway Credit Union – hosted a successful Promise Night at the Arena on February 22, 2023, at Chartway Arena in Norfolk, VA. The event was held during the Old Dominion University Men’s Basketball game and brought together the foundation’s companion charities, supporters, board members, leaders, team members, dozens of kid heroes assisted through its grant program, and their families.
- Tidewater Chapter Meeting March 9
February 24, 2023Nicholas Hinrichsen, CEO and co-founder of the firm Clutch, will offer a program on fintechs at the Tidewater Chapter's March 9 meeting. Nicholas will share insights on fintech partnership best practices and discuss how to choose software products that seamlessly integrate to give your credit union a unique advantage. He'll also highlight how to maximize AI decisioning.
- League Board Seeks Nominees for Kirsch, Farley Awards
February 23, 2023We are seeking your recommendations for prospective candidates for our annual awards. The Virginia Credit Union League Board will name the winners of this year’s James P. Kirsch Lifetime Achievement Award and Eugene H. Farley Jr. Award of Excellence at the Annual Meeting in Williamsburg on May 25, 2023.
- Governance Committee Seeks Prospective Candidates for Three Seats on League Board
February 23, 2023The Governance Committee of the Virginia Credit Union League seeks your recommendations for candidates to be nominated for election to the Board of Directors. In 2023, three board seats are open for election.
- EPN Events Set for March 14 in Hampton, NoVA
February 23, 2023Our EPN groups in Greater Hampton Roads and NoVA are hosting events on March 14.
- Credit Unions Capture Majority of Q3 2022 Auto Market Share
February 22, 2023The automotive finance market is dynamic, and data in the third quarter of 2022 showed us this again. Credit unions have become the auto financier of choice for consumers: Experian’s “State of the Automotive Finance Market Report: Q3 2022” found that credit unions snagged the largest overall market share, making up 28.44%, from 20.21% in Q3 2021. It’s noteworthy that credit unions surpassed captives and banks for the first time in history – with captives decreasing from 26.64% to 21.89% year-over-year, and banks going from 32.51% in Q3 2021 to 27.32% this quarter.