The Point: Feb. 6, 2014


Congressman Grimm signs on to supplemental capital bill

Rep. Michael Grimm (R-11) is the latest New York congressman to co-sponsor the Capital Access for Small Businesses and Jobs Act (H.R.719). Grimm’s commitment came after Credit Union Association of New York staff visited his office last month for dialogue on credit union priorities.

H.R.719 would provide credit unions with the ability to raise capital from alternative sources. The bill was originally introduced by Rep. Peter King (R-2) last year and has since been co-sponsored by 10 other New York representatives, including Reps. Grimm, Timothy Bishop (D-1), Steve Israel (D-3), Gregory Meeks (D-5), Hakeem Jefferies (D-8), Charles Rangel (D-13), Paul Tonko (D-20), Richard Hanna (R-22), Dan Maffei (D-24) and Chris Collins (R-27).

New York credit unionists will have the opportunity to discuss H.R.719 and other key credit union legislation with their lawmakers during CUNA’s 2014 Governmental Affairs Conference (GAC) in Washington, D.C., this month.

To learn more about the Credit Union Association of New York’s priority federal legislation, visit the Federal Issues section of the Association's Action Center (member login required).

Frontline Compliance program deadline approaching

The Credit Union Association of New York is once again offering its popular Frontline Compliance Certificate Program, a seven-part webinar series that equips frontline staff with the knowledge and tools needed to comply with the latest regulations. The series will begin March 11, and registrations must be received by Feb. 26. Complete details are available on the Association website.

Association Compliance Director Mike Carter will lead the series. Webinar dates and topics include:

  • March 11: Share Insurance;
  • March 25: Truth in Savings Act;
  • April 15: Regulation Z;
  • April 29: Reg B/FCRA;
  • May 14: BSA/Fraud Prevention;
  • May 27: Account Ownership; and
  • June 10: Share Draft Basics.

All webinars begin at 10 a.m. and will last approximately one hour. Participants who complete all seven webinars will be certified as Frontline Compliance Specialists.

The educational investment for the complete series is $229 per person. Professional Development Grants are available through the New York Credit Union Foundation (NYCUF). To learn more or apply for funding, visit the NYCUF website.

CO-OP to match donations for statewide CMN Hospitals fundraiser

Credits unions still have time to “brighten a child’s heart” by participating in the Credit Union Association of New York’s second annual Valentine’s Day fundraiser. Funds raised this year will be matched by CO-OP Financial Services’ Miracle Match Program and will directly benefit Children’s Miracle Network Hospitals that serve New York.

To participate, credit unions should complete the following steps:

  • Visit the Association website to complete and submit a fundraiser enrollment form. An informational flyer is also available on the website.
  • Invite staff to dress down Feb. 14 for a minimum donation of $5 to benefit the nearest Children’s Miracle Network Hospital.
  • Invite members to support the cause. Download, print and “sell” donation icons in credit union branches for a minimum donation of $1 through Feb. 28. (A downloadable icon graphic and branch flyer are available on the Association website.)
  • Follow the instructions provided on the Association website to report and submit all donations by March 7.

To learn more, visit the Association website.

In addition to the Association, the following New York credit unions have registered to participate: Buffalo Metropolitan FCU, Columbia-Greene FCU, Cornerstone Community FCU, Dannemora FCU, Fulton County FCU, Great Erie FCU, Greater Niagara FCU, Leatherstocking Region FCU, Peru FCU, SeaComm FCU, TCT FCU, The Summit FCU, UFirst FCU and Western New York FCU.

CU volunteers can stay connected with CUNA Volunteer Network

Credit union board members and volunteer committee members can stay informed, involved and connected by joining the CUNA Volunteer Network. Members gain instant access to a nationwide network of credit union peers and resources, as well as special discounts on educational opportunities.

CUNA is offering discounted Volunteer Network memberships this year: The investment for credit unions with $20 million or more in assets is $299 per network member or $1,299 for a full board membership. The cost for credit unions with less than $20 million in assets is $149 per network member or $699 for a full board membership.

Helpful Links

CUNA News Now

Don't Tax My Credit Union Website

Don't Tax My Credit Union Campaign Resources

New York's State of Mind Blog

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