The Point: March 29, 2013

Recognition Round-Up

Buffalo Metropolitan FCU has won a 2013 CSCU CAMEO Card Marketing Award. The credit union won first place in the Stand Out Performance category (less than $100 million in assets) and will be recognized at the 2013 CSCU Solutions Conference next month, along with the following New York credit unions recognized previously in The Point: Clarence Community & Schools FCU, Qside FCU, SeaComm FCU and Western New York FCU.

About Recognition Round-Up:

Credit unions and/or credit union leaders receiving a significant local, state or national award are encouraged to complete and submit the Credit Union Announcement Form for recognition in The Point and on the Association's Facebook page. Photos and related press releases may also be attached with the form. Note: Announcements regarding an award received from the Association (e.g., Dora Maxwell, Louise Herring, Desjardins Awards) do not need to be submitted.

CUs should note April compliance reminders

As the month comes to an end, credit unions should review the following compliance deadlines/reminders for April:

  • April 1: effective date for NCUA's "rural district" definition amendment;
  • April 15: personal income tax returns due to IRS and NYS;
  • April 15: last day for 2012 IRA contributions;
  • April 19: last day to file Call Report (Form 5300) with NCUA; and
  • April 30: last day to update Regulation C (HMDA) Loan/Application Register (LAR) with action taken on applications and loans submitted in the first quarter of the year.

CDFI recertification deadline extended to April 8

Community Development Financial Institutions (CDFIs) now have until April 8 to submit their mandatory recertification applications. A one-week extension of the original April 1 deadline has been granted due to CDFI Fund website accessibility issues over the past several days.

The recertification requirement applies to CDFIs originally or most recently certified before Feb. 1, 2010. Earlier this year, the CDFI Fund said it expects to provide up to $165 million to eligible financial institutions in 2013.

For more information, visit the CDFI Fund website.

Helpful Links

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CUNA Regulatory Advocacy Report (CUNA member log-in/registration required.)

CUNA Legislative Update (CUNA member log-in/registration required.)