The Point Sept. 11, 2013
CUs can ‘pose and post’ on Miracle Jeans Day
New York credit unionists who celebrate Miracle Jeans Day next Wednesday are encouraged to post creative pictures of staff and members on the Credit Union Association of New York’s Facebook page. For details about the initiative, view the promotional flyer.
Miracle Jeans Day is an annual, nationwide fundraiser coordinated by Credit Unions for Kids to benefit Children’s Miracle Network Hospitals. After making a personal donation to benefit their area hospital, participating credit union employees will wear jeans in lieu of traditional work attire Sept. 18.
Credit unionists can still register and download planning resources on the Credit Unions for Kids website.
In addition to the Association, the following New York credit unions have registered to participate: Amherst FCU, Buffalo Metropolitan FCU, CFCU Community CU, Clarence Community & Schools FCU, Cornerstone Community FCU, Edge FCU, First Heritage FCU, FocalPoint FCU, Fulton County FCU, Great Erie FCU, Greater Niagara FCU, Horizons FCU, Inner Lakes FCU, Nassau Financial FCU, Niagara’s Choice FCU, Olean Area FCU, Saratoga's Community FCU, ServU FCU, Sidney FCU, Sunmark FCU, TCT FCU, UFirst FCU and Western New York FCU.
NCUA loan participation rule effective Sept. 23
NCUA’s final rule on loan participations goes into effect Sept. 23. The rule caps participation loan originations from a single lender at 100 percent of the credit union’s net worth or $5 million, whichever is greater.
NCUA also approved an expanded waiver process for the single-originator limit and limits to one borrower, along with a provision enabling credit unions pushed over the limit by the new rule to move their loans into line.
The original effective date was July 25, but NCUA was urged to postpone the date to give credit unions more time to adequately prepare for the changes.
Kathy Thompson, CUNA’s SVP for compliance and legislative analysis, reviewed the new regulations on the latest episode of CUNA's “Inside Exchange” video series.
For more information, view the final rule. NCUA will issue additional guidance by Sept. 23.
CDFI conference includes presenters from NY credit unions
There’s still time for credit unions designated as Community Development Financial Institutions (CDFIs) to register for the annual New York Coalition of CDFIs Statewide Conference. The conference will be held Sept. 30-Oct. 1 at the Albany Marriott in Albany, N.Y.
With a title theme of “Partnering to Build New York State Communities,” the conference will focus on building, enhancing and leveraging partnerships. The agenda includes an “all hands” discussion on collaborations and partnerships, three panel discussions and eight workshops covering various community development topics.
Among the speakers are representatives from several New York credit unions, including Alternatives FCU, Cooperative Federal CU (Syracuse), Lower East Side People’s FCU and Neighborhood Trust FCU. The Credit Union Association of New York is among the event’s five sponsors.
To learn more or register for the conference, visit the event webpage.
Registration open for Online Discovery Conference
CUNA Mutual Group's fourth annual Online Discovery Conference is scheduled for Oct. 1. The event—which runs from 10 a.m. to 5 p.m.—will offer free, virtual sessions focused on three main credit union issues: managing compliance and regulatory burdens, finding new sources of income and staying relevant to members’ financial needs.
By registering online, credit unionists can access content and connect remotely with their peers throughout the day. The agenda includes 13 thought leader sessions, a virtual trade show and peer networking through chat rooms and message boards. Registrants will have access to conference materials after the event.
CUNA Regulatory Advocacy Report (CUNA member log-in/registration required.)
CUNA Legislative Update (CUNA member log-in/registration required.)