The Point: April 24, 2013
Priority CU bills advance in State Legislature
Bills that would eliminate burdensome ATM fee disclosure regulations and expand fields of membership and investment powers for state-chartered credit unions advanced in the NYS Legislature yesterday.
The Assembly Banks Committee passed A.6234, which would eliminate the requirement of physical fee disclosures on ATMs and bring NYS law into conformity with the federal law signed by President Obama last December. The bill will now advance to the Assembly Codes Committee.
As previously reported, a companion bill has been introduced in the NYS Senate by Sen. Joseph Griffo (R-Utica-Rome/Central).
In the Senate, Banks Committee members passed S.2089, which would give state-chartered credit unions the ability to include select employee groups (SEGs), associations and communities within the same field of membership. The bill will now advance to the Senate Finance Committee.
As previously reported, a companion bill has been introduced in the Assembly by Assemblywoman Annette Robinson (D-Metropolitan).
Tax Advocacy Toolkit available for CUs
As part of a continued focus on protecting the credit union tax status, CUNA and state associations/leagues are encouraging credit unions to educate their members about the importance of the tax exemption to the credit union structure, as well as the unique benefits they receive as credit union members.
Credit union leaders can download a variety of member education materials by accessing CUNA's Tax Advocacy Toolkit (member log-in required). The toolkit includes sample articles, advertisements, statement stuffers, relevant statistics and background information on the issue.
CUs invited to sponsor Convention Wine Pull for CMN Hospitals
At this year's Annual Meeting & Convention, the Credit Union Association of New York will once again host a Wine Pull fundraiser to benefit Children's Miracle Network Hospitals. By sponsoring the event now, credit unions can help fund the "mystery" wine that will be offered.
The following sponsorship levels are available:
- $1,000: "Pop a top" to celebrate healthier New York kids.
- $500: "Uncork" lifesaving research and technology.
- $250: "Twist" the outlook for families facing illness.
Funds raised will benefit the Children's Miracle Network Hospitals that serve New York. As part of its Miracle Match program, CO-OP Financial Services will also be matching all funds raised.
To learn more or download the donor form, visit the Association website. Contributions received before April 30 will be recognized at the 2013 Annual Meeting & Convention.
CU Direct hosting informational webinar April 30
Credit unionists can learn more about CU Direct Corporation's member direct solutions during a free, informational webinar April 30. The event begins at 11 a.m., and online registration is available.
Participants will learn how to stay connected with their members throughout the entire vehicle-buying process using the following CU Direct Corporation solutions: the AutoSMART program; the Smart Approval program; mobile solutions; pre-approval campaigns; and a new, member-focused portal.
CUNA Regulatory Advocacy Report (CUNA member log-in/registration required.)
CUNA Legislative Update (CUNA member log-in/registration required.)