CUNA’s Ryan Donovan dissects the election’s impact on credit unions11/30/2016CUNA Chief Advocacy Officer Ryan Donovan explains what this year's election means for America's credit unions. Donovan discussed how he's hopeful that the new administration will help advance the agenda of regulatory relief for credit unions. With a credit union majority in Congress, there's tremendous opportunity for credit unions to advance messages on regulatory relief, data security, charter enhancements and the credit union difference. Donovan encourages credit unions to take this opportunity to educate and equip their members on the challenges and opportunities facing their financial institution in order to become advocates.
How Service CU excelled in business lending to win CUNA’s Excellence in Lending Award11/28/2016Service Credit Union AVP of Business Services David Weed shares the story behind winning the Excellence in Lending Award presented by CUNA Lending Council. Weed credits their success to their investment in member business loans by specifically targeting construction and floorplan lending thanks to market demand. Weed advised other credit unions looking to get into member business lending to “be patient; this doesn't happen overnight” and to understand the value in establishing a close bond with small business owners.
Six practical steps to greater B2B CMO impact11/18/2016CUNA Chief Marketing and Technology Officer Amy Nigrelli sits down with Branding Magazine to discuss her role at CUNA. As CMO, Nigrelli operates as a strategic change agent who is “an integrator and facilitator with an agenda.” She says it's essential for a marketer to see both sides of the situation in order to connect various parts of the organization together. Nigrelli offers six key areas for B2B marketers to implement in order to create greater influence and impact within their organization.
GOP, business groups launch campaign to constrain CFPB11/18/2016CUNA President/CEO Jim Nussle called on the CFPB to stop all pending rulemaking in wake of last week's election results. Nussle says the Bureau has “stifled” credit union's ability to serve their more than 100 million members. Please note, credentials are required to access content.
Credit-builder loans let you build credit without a card11/17/2016Looking to build credit, but don't have any? Look for a credit-builder loan available at local credit unions. Credit-builder loans help consumers build and establish credit and can help repair bad credit. CUNA Program Manager for Market Research and Consumer Education Michelle Dosher advises consumers to visit their local credit union to sign up for a credit-builder loan because “other financial institutions might not offer these opportunities.”
7 ways you’ll come out on top after joining a credit union11/11/2016There are ample reasons why you should join a credit union - and the Daily Herald highlights seven. When you join a credit union, you become a stakeholder in the not-for-profit member-owned financial institution. Unlike banks, credit unions exist to pass along earnings to their members in the form of lower rates on loans, no ATM fees, higher interest rates for savings, free checking accounts, and faster and personal service. According to CUNA, 3.7 million Americans became credit union members in 2015 - a record high - and more than 100 million Americans currently use credit unions!
Group calls on CFPB to freeze new regs11/11/2016CUNA President/CEO Jim Nussle urges CFPB Director Richard Cordray to freeze all regulation in wake of Tuesday's election results. In a letter, Nussle advocates that the “policies coming out of Washington that limit consumers' ability to obtain safe credit, or make it difficult and more expensive to access products and services from their community financial institution such as their credit union, are not making their lives better.” As a result, these regulations have restricted credit union's ability to serve their members.
GOP election sweep heralds postcrisis turning point for financial regulation11/09/2016Following the election, CUNA pledged to work with new presidential administration and Congress on easing unnecessary regulatory burden on America's credit unions and members, and launched an attack to reduce regulatory burden immediately. This has been CUNA's highest priority and will remain so moving forward.
Banking Technology November 2016 issue out now11/07/2016CU Ledger is highlighted in the latest edition of Banking Technology. Credit unions are noted for taking the initiative in the blockchain space by launching CU Ledger - a collaborative effort between CUNA, the Mountain West Credit Union Association, PSCU, Best Innovation Group and other industry partners.
Top Lobbyists 2016: Associations11/02/2016CUNA
President/CEO Jim Nussle is named top lobbyist for associations by The Hill. Nussle has appeared on The Hill’s annual list naming the top
lobbyists in Washington D.C. for three consecutive years.
Japan rises to blockchain challenge with new consortium11/01/2016CU
Ledger, the blockchain technology initiative, sponsored by CUNA, the Mountain
West Credit Union Association, PSCU, Best Innovation Group and other industry
partners, is noted for its active role in movement.
Finance brief: week in review & what’s ahead10/30/2016CUNA
is prepared to defend the National Credit Union Administration’s new field-of-membership
rule. The new rule, which modernizes a credit union’s field of membership in
order to better serve their members, was long advocated by the CUNA/League
Next president should fire CFPB’s Cordray10/27/2016Regulations imposed by the Consumer Financial Protection Bureau are crippling America's credit unions. CUNA addressed CFPB Director Richard Cordray in a letter, describing the bureau's regulatory approach as “terribly troubling” and “baffling.” CUNA also found a significant increase in regulatory burden being imposed on credit unions since the CFPB's inception, growing from $4 billion in 2010 to $7 billion in 2014. The bureau's regulations are restricting credit unions' ability to fulfill their mission to provide financial products and services to their more than 100 million members.
DC Circuit hears TCPA oral arguments10/27/2016The D.C. Circuit Court of Appeals heard oral arguments on the Federal Communications Commission's 2015 Telephone Consumer Protection Act. A large portion of the discussion focused on the criteria to be considered an auto dialer, which according to the challengers, is “arbitrary and extends beyond the statutory definition.” The petition was supported by several amici, including the Credit Union National Association.
NCUA expands membership fields for credit unions, angering community banks10/27/2016CUNA weighed in on why NCUA was right to make updates to FOM. “The Federal Credit Union Act was written back in the '50s, so a lot of the provisions are really old. What people think of as a community has changed over time,” explained CUNA Senior Director of Advocacy & Counsel Lance Noggle.
US credit unions expect to expand with regulatory vote this week10/27/2016Credit unions will be able to expand their field of membership thanks to the modernizations made to the FOM rule by the NCUA. Granting flexibility to what defines a community helps with access to capital and makes it easier for credit unions to serve their members. “The internet has changed everything for lenders. This only modernizes some arcane requirements,” said CUNA Chief Advocacy Officer Ryan Donovan.
ICBA, CUNA at odds over changes to credit union membership rules10/27/2016CUNA President/CEO Jim Nussle commends NCUA's finalized field of membership rule because it “will facilitate consumer and small business access to credit unions and make it easier for credit unions to serve their members.”
Are banks the only places to park your money?10/19/2016The Wall Street Journal marks International Credit Union Day by highlighting the difference between credit unions and banks. CUNA worked with The Wall Street Journal to produce an infographic that illustrates the benefits of credit union membership.
CCUA interviews: CUNA’s Rich Meade talks blockchain, CU Ledger, and more10/17/2016CUNA Chief of Staff and COO Rich Meade gives an update on CU Ledger. Meade reports that the credit union industry's distributed ledger technology has already raised half amount of the money needed to fund the initiative. Over sixty credit unions and four of the largest CUSOs have committed to the project. Meade hopes to present a robust report on the vision or model of CU Ledger by next spring.
Rules of engagement: going all in10/11/2016CUNA Councils Membership Manager Natalie Sherry elaborates on the success behind its 'Go All In' marketing campaign. Sherry recommends keeping your message simple - ask the audience a question about themselves, show members their own engagement data, and give them a nudge to act. This message proved to be very favorable for CUNA Councils who saw a 361% return on their investment and received an ASAE Gold Circle Award.