In some positive economic news to start this week’s report, CUNA’s latest analysis of NCUA 2012 year-end call report data shows credit unions are hiring again – at the highest rate since the Great Recession began in 2007!  Full-time employees at credit unions totaled nearly 234,000, up more than 3% from 2011 (when hiring was nearly flat), and a reversal of contractions in full-time employees in both 2009 and 2010.  Just another sign of increasing confidence by credit unions for their futures. Read the entire Cheney Report HERE
Financial Literacy Month an Opportunity For CUs to Shine
As Financial Literacy Month, April will present an opportunity for credit unions to rededicate themselves to their core operating principles of education and social responsibility, says Lois Kitsch, National Credit Union Foundation national program director.

"It is part of our mission," Kitsch said. "It is why we exist. But I also think it makes good business sense. The more educated members we have the more successful and productive they will be as members of the credit union. It makes common sense that access to financial information should be the core of everything credit unions do."  Read More

Quote of the Week


We cannot waste time. We can only waste ourselves.  - George Matthew Adams
Small FI Reg Burden Is On House Financial Services' April Agenda
The regulatory burden faced by small financial institutions, like credit unions, is on the U.S. House Financial Services Committee agenda twice in April.

The April hearing schedule is in its early planning stages and few details are available. Credit unions are not named on the hearing schedule. However, a committee spokesman on Wednesday told News Now that the panel does intend to hold a hearing to study the regulatory burden of credit unions. That session will be part of a 2013 series to study, in part, the impact of the Dodd-Frank Act.  Read More

CUNA Urges Senate To Pass Privacy Notice Relief Bill
In a joint letter with other financial trade groups, CUNA urged the Senate to vote on bipartisan legislation (S. 635) to end the redundancy of privacy notices "without further delay and amendment."  Read More

Indirect Auto Lenders Put On Notice By CFPB
Last Thursday the Consumer Financial Protection Bureau reminded indirect auto lenders of their compliance responsibilities under the Equal Credit Opportunity Act (ECOA).

The Thursday bulletin was meant, in part, to clarify the CFPB's authority to pursue auto lenders whose policies can, at times, be used to harm consumers through unlawful discrimination.  Read More

Tools Added To CUNA Tax Advocacy Arsenal
New resources continue to be added to the Credit Union National Association's tax toolkit arsenal designed to provide materials to help credit unions talk to their members about the value of credit union membership and to fight back against banks that are targeting credit unions in tax status attacks.  Read More
Chip-and-Pin Card Standards Move Forward
Credit unions and other debit card issuers moved significantly closer to being able to issue smart chip embedded debit cards this week when a key industry council announced its members reached agreement on a key software approach.  Read More

Stocks Hit Highs While Uncertain Credit Union Members Continue to Save
The Dow Jones industrial average in recent days has ended a surge that the markets hadn’t seen in 17 years.  For some, it was one more sign that the nation’s economy may be continuing to move along the road to recovery.  Read More

Regulatory Relief Amendment Excludes Credit Unions
A 2014 budget amendment passed by the Senate would “establish a deficit-neutral reserve fund to address the disproportionate regulatory burdens on community banks,” according to a release from the legislation’s sponsor, Sen. John Boozman (R-Ark.)  Read More


With drone technology becoming prevalent for surveillance and other purposes, Sen. Mark Udall (D-Colo.) said he is writing legislation aimed protecting the privacy rights.

In a release, Udall said unmanned aerial systems technology has the potential to create jobs and provide significant benefits for local law enforcement and private businesses, but   privacy safeguards — at the state and federal levels — have not kept pace with the technology.  Read More

Project Zip Code 13.0 is ready for download! With this latest release of PZC the entire coding platform has been updated. What this means for you, is that PZC now runs faster. It also allows users to create comprehensive, better formatted reports and queries from the desktop application. The User Manuals and Privacy Statement for Project Zip Code 13.0 are available online and attached as well for your convenience.  READ MORE

Banks’ attacks against a supplemental capital bill for credit unions are spurious, will go nowhere, and run counter to a growing interest among members of Congress in capital reform not only for credit unions, but for financial institutions generally, said the Credit Union National Association.  Read More

CUNA Works All Fronts For CU Reg Relief
The Credit Union National Association works every day to fight credit unions' regulatory burden on three fronts--legislative, regulatory and political, CUNA Executive Vice President of Government Affairs John Magill notes.  Read More