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AZ Credit Unions Meet With Senator Jeff Flake
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Wyoming Credit Unions Meet With Congressman Lummis
We will collect images from the CAG from attendees over the next week and will send out a link to an album in the next CU Scoop.  Please send any images that you'd like to share to dlarrabee@mwcua.com, tag them on facebook with Mountain West Credit Union Association or on Twitter @mwcua/mwadvocacy.

 
 
Legislation introduced in the U.S. House of Representatives last week to improve access to capital for consumers by reforming an outdated limitation on the ability of credit unions to attract supplemental capital is likely to receive a boost from lawmakers looking for ways to remove regulatory roadblocks and small businesses and consumers hoping to find capital in a still-struggling economy.  Read More
 
 
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CUs' Mobile Banking Enters Second Generation: Special Report
Mobile banking is here to stay at credit unions. Today, about one-third of all credit unions offer mobile banking. The rest are likely to roll it out within the next 48 months. By comparison, online banking took about twice as long to reach similar numbers.  Read More

 NCUA Passes Expanded Rural District FOM, Amends Investment Rule to Allow TIPs
The National Credit Union Administration has approved a final rule that expands the definition of "rural district" for field of membership purposes. The new rule sets the definition at the greater of "no more than 250,000 persons or 3%" of the population of the state in which the majority of the district's persons are located.  Read More

 CUNA, League Toolkit Helps CUs Connect With Members On Tax Issue
Last Thursday, the Credit Union National Association unveiled an important members-only toolkit--designed to help credit unions connect with their members and educate the public about credit unions as banks intensify their state-level attacks against the credit union tax status. Read More

As Study Says Nation Struggles To Save
While many credit unions are assisting a nation that still struggles to save, a new study points out why it is necessary to keep educating overly optimistic consumers about managing their finances and making saving a life-long habit.  Read More

More Stories and News 

 

CU Times This Week

02/27/2013

 
5 Essential Facts About the Financially Underserved
In order to succeed in the 21st century, credit unions cannot afford to not serve the enormous and growing population of financially underserved consumers in the U.S., according to Greg Rable, CEO of FactorTrust, an aggregator of data on those consumers. Read More

DDoS Attacks Prompt NCUA Risk Alert
Responding to recent distributed denial-of-service attacks on at least two credit unions, the NCUA on Wednesday released a risk alert that it said identifies appropriate policies and procedures to guard against them. 
It is the first risk alert released in 2013; no risk alerts were released in 2012.  Read More

CUT - 5 Places to Spot Washington Celebrities While at GAC
They may not be as pretty as the stars in Los Angeles, but Washington has plenty of high-profile, powerful and famous people to see, especially near Capitol Hill.  Where are visitors most likely to spy someone famous?  Other than speaking sessions at CUNA’s Governmental Affairs Conference Feb. 25- 27, Credit Union Times has the scoop on five other likely spots.  Read More

More Stories and News
 

Quote of the Week

02/27/2013

 
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Great minds have purposes, others have wishes. ~Washington Irving


 
 
There’s big news coming out of the CUNA/League system today.  The results are in from our national Examination Survey where we asked credit unions to provide CUNA and the Leagues with vital information about the exam process so we can better advocate on exam issues.  You certainly delivered.  More than 1,500 credit unions responded to the survey—indicative of how important this topic is to you.

What did we find?  Overall, a majority of you (60%) feel the exam process is working reasonably well.  Examiners scored high marks in several areas, including being well informed about safety and soundness issues and regulations. Read More
 
 
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Credit unions saw their debit interchange revenue drop by $1.38 million in Q3 of 2012, according to the Credit Union National Association. The alleged culprit is the Durbin Amendment, which imposed a cap two years ago on debit interchange fees, or swipe fees: charges on merchants that are levied by card processors very time a card is used at the point-of-sales terminal.

Durbin intended both to give retailers a break from those fees and to protect smaller financial institutions like credit unions from its impositions – financial institutions with assets under $10 billion were exempt from the camp. However, as this report suggests, such is not the case.  Read More

 
 
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It’s great to have so many of you here in Washington for CUNA’s GAC!  We’re looking forward to a great week advocating on behalf of America’s credit unions!  Throughout the week CUNA Legislative Affairs staff will be working at the Governmental Affairs booth on the L Street bridge; so, if you need additional copies of briefing material or if you have questions regarding our legislative issues, please visit the booth and staff will be happy to help!  READ MORE

 
 
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National Credit Union Administration (NCUA) Board Chairman Debbie Matz today encouraged credit unions to help educate members and their families about the importance of saving during the annual America Saves and Military Saves Week, which starts Feb. 25.

“Having a savings account is the first step towards financial stability, but a recent study indicated a little more than 29 percent of America’s households do not have a savings account,” Chairman Matz said. “People need to learn more about how to save and have a place to save. Read More

 

Arizona News

02/27/2013

 
AZ - Scrap Heap of Dead Bills Piling Up at Arizona Legislature
Friday was the deadline for legislation to have a hearing and committee vote. Without both, a bill is effectively killed for the session.

That means this year, Arizona likely won’t see guns allowed on college campuses, a ban on texting while driving, or the repeal of controversial immigration law Senate Bill 1070.Read More

AZ - Proposed Arizona Legislation Could Make Silver, Gold Coins Legal CurrencyArizonans who fear the federal government will make their folding money worthless may soon be able to substitute privately minted gold and silver coins.

The Senate Finance Committee on Wednesday took the first steps to making such coins legal tender in Arizona. SB 1439 would give them the same legal status as bills and coins authorized by Congress.  Read More