Tax Talk Kicks Off CUNA Inside Exchange Video Series
The Credit Union National Association is launching a new regular video feature today called "Inside Exchange." CUNA has launched the new communications tool to give members insight into what's happening in Washington, D.C., in the legislative, regulatory and political arenas.
In the inaugural video, CUNA President/CEO Bill Cheney and Executive Vice President of Strategic Communications and Engagement Paul Gentile dive into efforts to preserve the credit union tax exemption, including more about CUNA's new "Don't Tax My Credit Union" campaign. Read More and Watch the "Inside Exchange" video HERE
Congress This WeekFloor Schedule
The House will convened on Monday and considered bills on the suspension calendar. For the remainder of the week, the House is expected to consider H.R. 3, the Northern Route Approval Act (Keystone XL pipeline) as well as H.R. 1911, the Smarter Solutions for Students Act. Read More
Credit unions were featured in a number of high-profile articles in recent weeks, in some popular publications and websites.
No doubt, these items contributed to a strong April for aSmarterChoice.org with nearly 19,000 visits being made and the total number of searches reaching nearly 18,000. Add April's numbers to the first quarter totals and it shows that aSmarterChoice.org has drawn just over 78,000 visits and a total of just over 68,000 credit union searches.
In April, Wisconsin Credit Union League and Mountain West Credit Union Association
upped the count to eight leagues that have joined the recognition program and are stepping up their game by promoting aSmarterChoice.org on their websites, using aSmarterChoice.org as a press resource, and including aSmarterChoice via their social media outreach. Read More
NCUA: 2012 A 'Transformative Year' for CUs
The credit union system in 2012 "transitioned from uncertainty caused by a severe recession and benefited from a recovering economy," making last year "a transformative year" for credit unions, the National Credit Union Administration said in its 2012 Annual Report. Read More
Media Comparisons Of CUs, Banks Tilt In CUs' Favor
In the 11th of a 12-part "Head to Head" series of articles, Business Insider Tuesday pitted credit unions versus big banks and asked: "Where Should You Put Your Money?" The verdict? Credit unions.
The publication isn't alone in pointing out the value of credit unions. King5.com, Seattle's CBS affiliate, also focused on the cooperative difference in a segment Monday entitled "Credit Unions Vs. Traditional Banks." Read More
CUNA Will Closely Review NCUA Derivatives Proposal
A proposed rule that would allow eligible credit unions to engage in interest rate swaps and to purchase interest rate caps was released for public comment by the National Credit Union Administration on Thursday. Read MoreMore Stories from CUNA News Now
Mobile Uptake Continues Despite Fraud Threat
More than one in four mobile and tablet users report being victims of online or mobile fraud, a national survey says, but that isn’t stopping them from using those channels. Read MoreDDoS Attack Fizzles After Elaborate Threats
A U.S. Department of Homeland Security memo that said the May 7 distributed denial of service attacks threatened by the so-called “hacktivist” collective Anonymous against government and financial websites would be more bark than bite prove to be true. Read More
The Constitution only guarantees the American people the right to pursue happiness. You have to catch it yourself. ~Author unknown, commonly attributed to Benjamin Franklin
Udall Reintroduces Bill To Increase CUs' MBL Cap
Sen. Mark Udall (D-Colo.) reintroduced legislation that would increase the credit union member business lending (MBL) cap to 27.5% of assets, from the current 12.25%-of-assets level.
Credit Union National Association President/CEO Bill Cheney thanked Udall for introducing the bill. "Your legislation is a commonsense economic-recovery and job-creation measure that would permit credit unions with experience in business lending to continue to lend to their small business members, without increasing the size of government," Cheney told Sen. Udall. Read More
“Don’t Tax My CU” Is Underway—Get Involved and Get Your Members Involved New Campaign Can Benefit Our Other Legislative Initiatives NCUA’s Derivatives Proposal Is Out for Comment Former Oregon State Senator is Nominated to NCUA Board 5 Trends to Watch Thank You Bucky Read entire Cheney Report HERE
Flake Proposes Ban on IRS Political Targeting
Last Tuesday, Sen. Jeff Flake (R-Ariz.) became the latest member of Congress to propose a legislative response to the IRS scandal.
Flake introduced the Protect Against Ideology-Based Targeting Act, which would prohibit the IRS from reviewing the tax-exempt status of groups based on political ideology.
"Having run a 501(c)(3) organization, I recognize the danger with this kind of targeting by the IRS," Flake said. "We cannot allow it to continue, regardless of the political party in power. There is no excuse for this kind of behavior from our government." Read MoreNew SEC Chief Mary Jo White Begins Job With Pressure to Tackle Rules
Her pictures are not even on her office wall yet, but Mary Jo White already is getting pulled into an arena in which she’s untested: writing regulations.
Since she took over as head of the Securities and Exchange Commission a month ago, Congress has pressed the former federal prosecutor to pump out long-overdue financial regulations required by the Dodd-Frank Act and rewrite key rules that govern the capital markets. This week, lawmakers are applying more pressure to get the job done — on their terms. Read More
40 CU Professionals Become Certified CU Development Educators (CUDEs)
Forty credit union professionals became Credit Union Development Educators (CUDEs) last week after being guided by eight dedicated program facilitators and mentors through the intensive Credit Union Development Education (DE) Training from the National Credit Union Foundation (NCUF). The May 1-8, 2013 training was held at the Lowell Center on the University of Wisconsin campus in Madison, Wisconsin.
The Spring 2013 graduating class included credit union movement representatives from across the U.S., the Caribbean, and from the Philippines. Mountain West Credit Union Association graduates were Lisett Olsen, Alhambra CU in Arizona and Chris Kemm, Mountain West CU Association in Colorado
“My experience at DE training was eye-opening and inspirational,” said Lisett Olsen, Business Development Officer at Alhambra CU in Phoenix, Ariz. “We need to go out and tell our story so we can keep the unique legacy and vision of our founders alive of ‘people helping people.’ The DE program is the electricity that we need to light our continuing path to the future.” Read More
Don't Let Congress Tax Our Credit Unions!
Unfortunately, some in Congress want to raise taxes and impose new fees on 96 million credit union members who represent 40% of all Americans, yet represent only 6% of the assets in financial institutions. And, they want to do this despite the fact that credit unions are not-for-profit and meeting their core mission every day.Visit Don't Tax My Credit Union.org to learn more and take action!Credit unions may also access the credit union Tax Status Advocacy Tool Kit for member communication resources!
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