The Point: Feb. 14, 2013

Recognition Award nominations due Feb. 20

Credit unionists have until Feb. 20 to submit nominations for the Credit Union Association of New York's 2013 Recognition Awards. Information and materials are available on the Association website.

Credit unionists are encouraged to nominate deserving peers for the following individual awards:

  • Outstanding Volunteer;
  • Outstanding Professional;
  • Outstanding Young Professional; and
  • New York Credit Union Hall of Fame.

Nominations are also being accepted for the following credit union awards: 

  • Louise Herring Philosophy in Action Member Service Award;
  • Dora Maxwell Social Responsibility Community Service Award;
  • Desjardins Youth Financial Education Award; and
  • Desjardins Adult Financial Education Award.

Winners will be recognized at the Association's 2013 Annual Meeting & Convention June 13-16.

For more information, contact Tracy Conner, VP of member relations, at (800) 342-9835, ext. 8107 or  

Robbery bill advances in State Senate

Legislation that would increase the penalty for robbery of a financial institution and make the crime a class C felony has advanced in the Senate. The bill, S.3559, was introduced by Sen. Joseph Griffo (R-Utica-Rome) and has now been reported to the Senate Codes Committee from the Senate Banks Committee.

The bill is the companion of A.2485, which was introduced last month by Assemblyman Charles Lavine (D-Long Island).

Increasing the penalty for credit union robbery is one of the Credit Union Association of New York's legislative priorities this session. To learn more about priority legislation and other legislative topics, visit the Association's Action Center.

NCUA to host net worth webinar Feb. 20

NCUA's Office of Small Credit Union Initiatives (OSCUI) will host a webinar Feb. 20 to discuss net worth restoration plan basics and explore common causes of net worth declines. The free event will begin at 2 p.m., and online registration is required.

During the webinar, OSCUI staff will:

  • review NCUA's capital requirements for credit unions and the net worth restoration plan process;
  • discuss the minimum regulatory requirements for net worth under Prompt and Corrective Action and Part 702 of NCUA's Rules and Regulations;
  • address restoration plan timelines; and
  • discuss assistance available for credit unions that are developing a net worth restoration plan.

For more information, view the related NCUA news release.

CUs should download, run new version of Project Zip Code

An important part of the advocacy process is educating legislators about how many credit unions and credit union members are among their constituents. This information is only available through Project Zip Code (PZC), making credit unions' use of the free software program essential.

When downloaded and run by credit unions, PZC securely counts credit union members and matches them by state legislative district, congressional district and county. The counts are then uploaded to CUNA's PZC website and combined with data from other credit unions nationwide to enhance advocacy efforts. Association staff share PZC reports with both congressmen and state lawmakers. (A sample U.S. Senate report is available for reference.)

Credit unions that utilize PZC are able to view their membership totals by geographic area, which can help guide strategic planning, ATM placement and branch strategies.

A new version of PZC, 13.0, was recently released. Credit unions are urged to download and run version 13.0 as soon as possible by visiting CUNA's website. When downloaded, the new version will automatically uninstall prior versions of Project Zip Code from the user's computer.

To guarantee accuracy, credit unions should update their PZC data annually.

For assistance, contact Leona Haberstro, the Association's advocacy specialist, at (800) 342-9835, ext. 8128 or

National industry news & CUNA reports

To view today's issue of CUNA News Now, click here.

To view the most recent CUNA Regulatory Advocacy Report, click here. (CUNA member log-in/registration required.)

To view the most recent CUNA Legislative Update, click here. (CUNA member log-in/registration required.)