CUNA in the News

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TH!NK Interviews: CUNA’s Jim Nussle discusses ‘Campaign for Common-Sense Regulation’05/19/2017CUNA President/CEO Jim Nussle updates CUbroadcast on the latest with the Campaign for Common-Sense Regulation. “The good news is we've had a lot of progress,” says Nussle. CUNA worked closely with House Financial Services Committee Chairman Rep. Jeb Hensarling (R-TX) on the Financial CHOICE Act. “The next stop is this package of common-sense reforms is moved to the House floor. And then we have to work with the Senate,” explained Nussle. 

Credit union exec named national professional of the year05/11/2017Consumers Credit Union Kristen Davidson is named the 2017 Professional of the Year by the CUNA HR & Organizational Development Council. Davidson is “an integral part of our team, and we're so proud of her,” commented Consumers Credit Union CEO Kit Snyder. 

Banks shouldn’t blame credit unions – Mark Condon05/11/2017Mark Condon, a former CUNA employee, says banks have themselves to blame for credit unions success. “If the Wisconsin Bankers Association wants to complain about lost market share, it ought to point the finger at banking industry deregulation in the 1980s and 1990s that allowed interstate branching of commercial banks, and the gradual decline in community banks, which lost business to the national banks that soon sprouted up with branches and ATMs in every Wisconsin community,” said Condon. 

Celebrating and honoring our nation’s seniors05/11/2017Jim Nussle thanks seniors for their rich contributions in shaping the world we live in today and discussed their financial futures. In this opinion piece, Nussle highlighted The Senior$afe Act, introduced by Senators Susan Collins (R-ME) and Claire McCaskill (D-MO), that would enhance credit unions' ability to financially protect their senior members from unscrupulous activity. 

ICI, credit unions support committee passage of Financial Choice Act05/05/2017CUNA voices support for the Financial CHOICE Act, following passage in the House Financial Services Committee. “During the markup, several committee members specifically cited the negative effects that overly broad rules stemming from the Consumer Financial Protection Bureau have had on credit unions and their members, so our message is getting out there,” said Jim Nussle.

Trades support Clear Relief Act05/03/2017Jim Nussle states his support for the Community Lending Enhancement and Regulatory (CLEAR) Relief Act, introduced by Rep. Blaine Luetkemeyer (R-MO). “There is no question that if the legislation was enacted, credit unions would realize a meaningful reduction in their regulatory burden,” stated Nussle.

Credit unions look to blockchain to solve digital identity crisis05/02/2017Credit unions look to blockchain to confirm identity of members. "If I call up my trusted credit union and they act like they don't know who I am and don't believe I am who I say I am, that's a lousy experience," said Bill Hampel, chief policy officer at the Credit Union National Association. This was also highlighted in Coindesk, Hyperledger Blog, IEEE Spectrum, and CU Journal.   

Time to repeal the Durbin Amendment05/02/2017The time is now for Congress to repeal the Durbin Amendment! Section 735 of the Financial CHOICE Act aims to get rid of this provision which has allowed retailers to pocket about $8 billion a year by not passing along savings to consumers. CUNA tallied the losses from the Durbin Amendment at $1.1 billion for credit unions. 

Congress should repeal the Durbin Amendment on debit card transactions05/01/2017CUNA President/CEO Jim Nussle along with other trade association leaders advocate for full repeal of the Durbin Amendment. “This misguided effort to regulate debit-card transactions hurt our members, their customers and consumers more broadly. It even harmed the smallest community financial institutions [credit unions] that were supposed to be exempt from these regulations,” stated the leaders. 

Sterling Credit Union assets top $130 million in 201604/21/2017Sterling Credit Union ended 2016 financially sound and stable. Sterling FCU reported more than $130 million in assets and an investment portfolio of more than $65 million, despite having to deal with undue regulatory burden, which for credit unions like Sterling FCU can translate into a drop of more than a percentage point in revenues. A study conducted by CUNA reported increased regulations have cost credit unions more than $1 billion in lost revenues since 2010. 

The congressmann at the creditt union: Iowa rep works Dupaco's teller line04/18/2017U.S. Rep. Rod Blum (R-IA) spent a day working at Dupaco Community Credit Union, learning the ins and outs of the credit union movement. Blum's visit was the result of meeting with the credit union's board and staff in Washington during this year's CUNA GAC, during which time the congressman discussed the possibility of spending a day at the branch.

CUNA asks Congress to direct CFPB to exempt credit unions from rules04/14/2017CUNA submitted a letter to Senate Banking Chairman Mike Crapo (R-ID) and ranking member Sherrod Brown (D-OH) urging Congress to tell the Consumer Financial Protection Bureau to exempt credit unions from its rulemaking. “The Bureau's unwillingness to exercise fully its exemption authority has resulted in credit unions reducing the availability of or eliminating entirely, safe and affordable financial products from the market,” said CUNA. The letter was in response to the lawmakers' requests for proposals on how to spur economic growth.

Michigan credit unions report fastest membership growth since 198704/13/2017Michigan credit unions report highest gain in membership growth since 1987. CUNA estimated MI credit unions provided nearly $374 million in financial benefits to members, which account for the 3.6% increase in growth for year-end 2016. “With memberships growing faster than the state population, it's obvious that Michigan has a serious need for credit unions,” Michigan Credit Union League President/CEO Dave Adams said.

Money smart week Wisconsin scheduled April 22-2904/10/2017During April 22-29 various organizations in Wisconsin will participate in 'Money Smart Week' aimed at improving financial awareness to residents. One of the initiatives being planned includes National Credit Union Youth Month, sponsored by CUNA and the Wisconsin Credit Union League. 

HAPO is latest credit union to offer commercial lending services04/04/2017HAPO Community Credit Union adds business lending to its service lineup in lieu of requests from its members. CUNA reports 38% of America's credit unions offer business services and the average credit union business loan is $250,000.

Caught between JPMorgan and Wal-Mart, Congress avoids fee rule03/27/2017Energy Capital in Houston CEO Randall Dixon discusses swipe fees associated with debit-credit cards. “Lawmakers in Texas need to understand that there should be a level playing field,” explained Dixon and “they need to hear from people like me” who're opposed to the fee rule.

Health care repeal failure complicates rollback of Dodd-Frank03/27/2017CUNA Chief Advocacy Officer Ryan Donovan weighs in on Congress's ability to pass legislation. Donovan noted that both the Affordable Care Act and the Dodd-Frank Act passed on a partisan basis without significant support from Republicans. While most GOP were united in opposing both legislations, they still have their differences in whether and how to change them.

Bankers, House Republicans have competing visions for CFPB03/20/2017House Republicans consider legislation that would change Consumer Financial Protection Bureau operations. At the 2017 CUNA GAC, Rep. Blaine Luetkemeyer (R-MO) told attendees, “in the CHOICE Act, we want to have the director serve at the will of the president.”

Branching out by leaning in03/17/2017Bill Hampel reports that the U.S. economy is doing really well and has been growing since the financial crisis in 2008. Hampel says if the Federal Reserve were to raise interest rates, it's because they feel confident that the economy will be able to grow and prosper once again. 

Successful credit union growth: lessons to learn from the USA experience03/17/2017CUNA Chief Policy Officer Bill Hampel advises credit unions to stay solvent and grow in order to be successful in the future. Hampel spoke at the Association of British Credit Unions annual conference saying “growth means relevance” and it must continue to happen despite regulatory burdens.