The Point: June 19, 2013

State Senate passes robbery penalty bill

The NYS Senate has passed legislation that would increase the penalty for robbery of a financial institution and make the crime a class C felony. The bill, S.3559, was introduced by Sen. Joseph Griffo (R-Utica-Rome) and has been a priority on the Credit Union Association of New York’s legislative agenda.

A companion bill, A.2485, was introduced earlier this year by Assemblyman Charles Lavine (D-Long Island). The legislation has now been referred to the Assembly Banks Committee.

NCUA adds loan participation rule to tomorrow’s agenda

Late yesterday, NCUA added the much-anticipated final rule on loan participations to its open agency board meeting agenda for tomorrow. The rule, as proposed in December 2011, would limit loan participations from a single originator to 25 percent of net worth.

NCUA Chairman Debbie Matz said during a May 2012 town hall meeting that NCUA was planning to adjust the cap before issuing the final regulation; however, she did not provide a final cap estimate.

Results of the meeting will be posted on NCUA’s website and reported in The Point Friday.

NCUA Chairman Matz hosting town hall webinar next month

NCUA Chairman Debbie Matz will host a free town hall webinar, open to the entire credit union industry and any other interested individuals, July 18 at 3 p.m. Online registration is available.

The webinar will feature updates on a range of subjects, including:

  • credit union industry performance;
  • NCUA’s Regulatory Modernization Initiative and efforts to provide regulatory relief;
  • NCUA’s proposed rule on derivatives;
  • emerging industry risks;
  • low-income credit unions;
  • emergency liquidity and the Central Liquidity Facility; and
  • guidance on credit ratings and risk management.

Participants may submit questions during the webinar or email them in advance to with a subject line of “NCUA Town Hall.”

Young Professionals Commission welcomes new members, plans initiatives

During a meeting held June 13, members of the Credit Union Association of New York’s Young Professionals Commission (YPC) elected new officers, welcomed new members and began planning several initiatives for the months ahead.

The following YPC officers were elected:

  • Chairperson Aimee Johnson, Oswego County FCU;
  • Vice Chairperson Cara Carlevatti, Great Erie FCU; and
  • Secretary/Communications Chairperson Stephanie Carl, Corning FCU.

The group recognized outgoing Chairperson Lisa Totaro, Sunmark FCU, who was a charter member of the YPC and has served as chairperson since 2010.

Six young professionals were installed as new YPC members, including:

  • Alexa Bennett, Northern FCU;
  • Whitney Cochran, CFCU Community CU;
  • Meghan McGee-Pelkey, UFirst FCU;
  • Jennifer Preston, Reliant Community FCU;
  • Katie Sugorovskiy, Western New York FCU; and
  • Christin Vincent, The Summit FCU.

New this year, the Association board of directors appointed YPC members to represent the group on four of the Association’s boards/committees. The following individuals were appointed:

  • Awards Committee designee: Adam Amesbury, St. Pius X Church FCU;
  • CULAC/CUPAC board of trustees designee: Heather Wood, AmeriCU Credit Union;
  • Governmental Affairs Committee designee: Stephanie Carl, Corning FCU; and
  • NYCUF board of trustees designee: Cara Carlevatti, Great Erie FCU.

YPC members are also developing initiatives to promote engagement and cross-generational cooperation. They plan to create an alumni group, enabling former YPC members to continue networking and sharing insights with their younger peers. They also hope to plan a young professionals-only Hike event in Washington, D.C., this fall.

“As the new chairperson, I am beyond excited to see what the YPC can accomplish this year,” said Johnson. “We have a great group of motivated, passionate young professionals, and the possibilities are limitless. In the year ahead, we will continue to engage young professionals throughout the state and get them motivated, educated and involved in all our credit union movement has to offer.” 

The YPC was founded by the Association in 2010 to help develop strategies for engaging and retaining young professionals within the credit union industry. Members include credit union professionals and volunteers age 35 and younger who are nominated by their credit union’s president/CEO. To learn more, visit the Association’s website.

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