PressContacts
ZAN MCKELWAY
VICE PRESIDENT
COMMUNICATIONS
EMAIL202-508-6701
VICKI CHRISTNER
MEDIA RELATIONS
MANAGER
EMAIL202-508-6754





print

CUNA in the News


Most Recent

Most people don't know what a credit union is: Nussle02/20/2015CUNA President & CEO, Jim Nussle, explained the credit union mission and structure difference on "Bloomberg Surveillance." Nussle discussed why credit unions should maintain their tax exemption status, most notably, for serving underserved banking populations.

Stop regulatory creep on credit unions02/13/2015CUNA's Jim Nussle wrote, "We want to work with the Congress to remove regulatory barriers. If these barriers are removed, the impact that credit unions have on the financial lives of their members will be that much more significant and the economic contribution credit unions and their members make will be that much greater."

Lawmakers take aim at credit union requirement02/10/2015CUNA is backing legislation introduced in the Senate by Sens. Jerry Moran (R-Kan.) and Heidi Heitkamp (D-N.D.) that would reduce how often credit unions must send privacy notices to customers. "The fact is that an annual privacy notice requirement is unnecessary, costly and confusing to our members," CUNA President and CEO Jim Nussle said.

Credit unions report significant 2014 growth02/06/2015In addition to seeing their membership numbers cross the 100 million mark, U.S. credit unions reported another major milestone in 2014: their fastest annual membership growth rate in 20 years.

Fed: December credit card balances up 7.9 percent02/06/2015"About 1 million jobs have been created in the past three months and that's the fastest three-month gain since 1997," said CUNA's Mike Schenk on the January employment numbers. Additionally, Schenk discussed consumer behavior to accompany economic growth, stating, "Consumer confidence has been rising and rising at pretty healthy rates over the last couple months, but I think we are just getting to the point where people are comfortable with the idea that this growth is sustainable and will probably have positive effects on their lives."

Credit unions experience fast growth on all fronts in 201402/06/2015The Credit Union National Association's estimates show that credit union membership expanded by 3.6%—the highest calendar year growth in membership since the 3.7% increase in 1994.

US gains strong 257K jobs, pay jumps; jobless rate 5.7 pct.02/06/2015"The labor market was about the last thing to recover from the Great Recession, and in the last six months it has picked up steam," said Bill Hampel, chief economist at the Credit Union National Association." The benefits for the middle class are now solidifying."

CFPB Accepting Comments on Rural Proposal; Accounting Clarification for Ginnie Servicers; 6% Capital Ratio for Non-Banks?02/02/2015CUNA stated that the Federal Home Loan Bank proposal by the FHFA could require credit unions to alter business practices by creating major compliance responsibilities and could result in higher cost mortgages. These cited challenges that credit unions may face have already impacted the lending industry, as lenders try to comply with the new rules and regulations enforced by the CFPB. In this evolving market, there will be new regulations and requirements, no matter how inconvenient and unreasonable they may be, that industry stakeholders will have to abide by.

CFPB offers changes to mortgage rules for smaller lenders01/29/2015The Consumer Financial Protection Bureau proposed several changes to its mortgage rules aimed at providing more leeway for smaller financial institutions to make loans. CUNA's Jim Nussle weighed in on the proposal saying, "more work still needs to be done, but this is an important step in the right direction."

Data breach legislation gets renewed push on the hill01/29/2015After another round of high-profile hackings, data breach legislation is no longer on the back burner for Congress, and associations like CUNA have contributed to this priority in policy change.

CUNA's advocacy altered RBC2, but concerns remain01/29/2015CUNA President and CEO Jim Nussle explains CUNA's position on NCUA's revised risk-based capital proposal and lays out the next steps. 

Fed keeps spigot open to aid economy01/28/2015"The Fed's primary job is to respond, not to what they see today, but what they anticipate will happen in the future. It's not about looking at today's inflation, but trying to noodle through where inflation will be in the future," said CUNA's VP of economics Mike Schenk. 

Retailers and card issuers divided over data security protection01/27/2015"Right now the weak link in the payment system in terms of security is at the merchants," Ryan Donovan, chief advocacy officer at CUNA, said in an interview. "If they took greater steps to protect data, they wouldn't be the victim." CUNA and the nearly 7,000 credit unions it represents say the logic behind having retailers like Home Depot and Target shoulder the cost burden is simple. The Gramm-Leach-Bliley Act, enacted in 1999, sets data security standards for financial institutions that possess personal financial information. The law, however, does not regulate merchants, only financial services firms.

FHFA Director Watt goes before House committee Tuesday01/26/2015CUNA influenced a hearing in the House Financial Services Committee, urging Member of Congress to ask Federal Housing Finance Agency Director Mel Watt about proposed regulatory changes to the Federal Home Loan Bank membership rules.

Financial groups want same data security standards for retailers01/23/2015CUNA sent a letter to Congress asking for new rules for how retailers must handle customers' personal data and urged for retailers and banks to be held to the same standards when data breaches occur.

Names and Faces01/17/2015The publication recognized that CUNA's Jill Tomalin has been promoted to deputy chief of staff where she will advise the CUNA president and CEO and the chief of staff in leading and managing all operations of CUNA.

Agency takes responsibility for breach01/16/2015While the Credit Union National Association notes in a statement that it, too, "appreciates" the NCUA's breach-recovery payment to Palm Springs FCU, it contends that much more needs to be done in the way of data-breach relief for credit unions. "It took NCUA a matter of weeks to offer reimbursement for their breach, yet credit unions are still waiting to be reimbursed for the Target breach over 13 months later," says CUNA President and CEO Jim Nussle.

CULAC sets record spending in 2014 cycle01/15/2015The Credit Union Legislative Action Council had its biggest campaign cycle yet, checking in with $4.43 million in receipts for the 2013-14 cycle. That puts the PAC 13 percent ahead of its total for the 2011-12 cycle, when it reported $3.9 million in receipts. Its spending went toward direct-mail, TV, radio and online advertising for candidates in both parties. CULAC has a 96 percent success rate, with spending in 396 races. 

New Year resolutions: Keep it simple for success01/12/2015The self-improvement impulse kicks into overdrive at the threshold of each new year. Susan Tiffany, writing in the Credit Union National Association's Home & Family Finance Resource Center, recommends sticking to the basics when making financial resolutions. 

The pros and cons of a credit union versus a bank01/06/2015If you're tired of shelling out money to pay fees at the ATM or for your savings account, then you might be on the hunt for a new bank. If that's the case, then don't forget to consider credit unions, too. They tend to offer higher rates of return on savings accounts and lower interest rates on loans.