May 21, 2012

CUNA Testifies on Excessive Reg Burden

CUNA continues to take--and make--every opportunity to warn policymakers of the harm to credit unions and consumers that comes from an excessive regulatory burden. Terry West, president/CEO of Vystar CU, Jacksonville, Fla., testifying on CUNA's behalf before a House subcommittee, estimated that credit unions have been subjected to more than 120 regulatory changes from at least 15 different federal agencies since 2008. (page 1)

Membership Growth Spurt

The growth momentum gained from last November's Bank Transfer Day is alive and well five months after the event and is reflected in credit unions' March membership growth numbers. Credit unions attracted half a million new memberships in March, according to CUNA Credit Union Monthly Estimates, and that followed strong gains each month since November. (page 1)

Exams, Reg Burden Highlighted at NCUA Listening Sessions

Minimizing regulatory burdens and improving the examination process have been consistent themes at the National Credit Union Administration's first two listening sessions. Credit union representatives at the sessions have identified the agency's pending loan participation and credit union service organization proposals as major concerns. (page 3)

N.C., S.C. Launch 'Hike' Season

North Carolina and South Carolina credit union leaders emphasized the lift that a member business lending cap increase could give the economy, and touched on other key credit union issues, as they hiked Capitol Hill early this month. The Hill visitors, led by North Carolina Credit Union League and South Carolina Credit Union League staff, also asked for congressional support on legislation that addresses financial examination fairness, ATM disclosures, and supplemental sources of capital for credit unions. (page 7)

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