Latest News & VACUL Headlines
- Bipartisan Senate Bill Would Exempt Veteran Business Loans from Cap
March 1, 2023Sens. Mazie Hirono, D-Hawaii, and Dan Sullivan, R-Alaska, introduced legislation Tuesday to exempt credit union loans made to veteran-owned businesses from the member business lending cap. Credit unions are restricted in business lending by current law to 12.25% of their total assets. This bill would amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the MBL definition.
- Senators Introduce Bipartisan Bill to Extend CLF Flexibility
March 1, 2023Sens. Alex Padilla, D-Calif., and Kevin Cramer, R-N.D., introduced legislation Tuesday that would allow credit unions to purchase central liquidity facility (CLF) capital stock for specific members for the next three years. CUNA, the California Credit Union League, and Dakota Credit Union Association coordinated with policymakers on the bill. CLF flexibility enacted via the CARES Act in 2020 expired at the end of 2022.
- Ryan Bell Leads Freedom First Team at First Lynchburg Location
February 28, 2023Freedom First Credit Union is excited to welcome Ryan Bell as Branch Manager of the Langhorne Branch to their Lynchburg team.
- House Passes Remote Online Notary Bill
February 28, 2023The House passed the CU-supported Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act by voice vote Monday. The bill would authorize the use of remote online notarization and create national standards and protections for its use. In Virginia, notarizing a document “remotely” is already permissible, but a national standard and broader acceptance of such services will make it easier for Virginia-based credit unions to utilize this option.
- SCOTUS Will Hear Challenge to CFPB Funding Mechanism
February 28, 2023The Supreme Court announced Monday it will hear a lawsuit challenging the funding mechanism of the CFPB. CUNA has long supported placing the CFPB under the traditional appropriations process.
- CUs, League Meet with Rep. Griffith; Thank Him for Support of Recent CU Legislation
February 28, 2023Credit union advocates from ValleyStar Credit Union, InFirst Federal Credit Union, Eastman Credit Union and Truliant Federal Credit Union met with Rep. Morgan Griffith (R-09) today.
- 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.