Latest News & VACUL Headlines
- 3Q2022 Credit Union Profile Available
December 5, 2022Your League has published the 3Q2022 edition of the Credit Union Profile, which provides an overview of Virginia-based credit unions' performance, key statistics and important trends.
- Supreme Court Likely to Rule that Biden Student Loan Plan is Illegal, Experts Say
December 5, 2022The fate of the Biden administration’s sweeping student loan forgiveness plan now rests with the Supreme Court. That may be bad news for borrowers, say legal and higher education experts. The court’s conservatives have been very aggressive in striking down the decisions of Congress and the president, experts say.
- Credit Union Welcomes Belinda Tucker as Chief Operating Officer
December 5, 2022UVA Community Credit Union is pleased to announce the hiring of Belinda Tucker as Chief Operating Officer (COO). The position of COO reports to Credit Union President/CEO, Susan Gruber, and will support the Credit Union’s marketing, retail delivery strategy, loan servicing, operations, Member Service Center, and member experience departments.
- Homebase Federal Credit Union Names President/CEO
December 5, 2022Prince George, Va.-based Homebase Federal Credit Union named Clint Summers its next president and CEO, according to a press release posted on CUInsight Dec. 1. Summers will succeed CEO Patsy Stuard, who is set to retire. Summers was previously COO at Missoula, Mont.-based Clearwater FCU.
- League Files Comment Letter on NCUA Proposal Governing Member Expulsion Process
December 5, 2022Your League has filed a comment letter with the National Credit Union Administration in response to the agency's proposed rule to amend federal credit union bylaws regarding member expulsion. We note several possible improvements to the proposal.
- CFPB Seeks to Limit Banks' Ability to Collect on Delinquent HELOCs
December 5, 2022The Consumer Financial Protection Bureau is taking the position that financial institutions cannot secure repayment on certain home equity lines of credit by pulling funds from their delinquent customers' checking accounts.
- Smart Sourcing and Procurement by Bankable Fintech
December 5, 2022The search for compatible fintech solutions that fit your credit union’s needs can be confusing, complicated and time consuming. With thousands of fintech companies in the marketplace today, how can you be sure that the solution you find fits the technology stacks at your credit union. League partner, Bankable Fintech, is the answer!
- CUs, League Meet With Gov. Glenn Youngkin on CU Issues and Economic Challenges
December 2, 2022Representatives from more than a dozen credit unions and the League met today with Gov. Glenn Youngkin and key administration officials.
- Applications to 'Crash the GAC' Open through Dec. 2
December 1, 2022Filene Research Institute, the Cooperative Trust, and CUNA announced Crash the GAC is bringing back its 14th cohort to Washington D.C. Applications for Crash the GAC are now open and the deadline to apply is Friday, Dec. 2.
- Risk Alert: Fraudsters Use BEC to Target Lack of Protection or Loose Controls
December 1, 2022Wire transfer fraud due to Business Email Compromises (BEC) has seen a spike in recent months. Multiple credit unions have reported high dollar losses to CUNA Mutual Group claims due to fraudulent wire transfers. BEC typically targets executive-level employees of the credit union and uses their credentials to send urgent requests via email or text for wire transfers.