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Credit Union News

August 3, 2012

Small businesses are struggling to access credit

In this interview on Fox Business, MultiFunding CEO Ami Kassar explains the struggles small businesses face in accessing needed loans. His firm is among many supporters of the Credit Union Small Business Jobs Bill, which would extend new credit to small companies through credit unions. See our top story, below.

Banks trying to drown out CU voices on business lending bill
Credit union employees, directors and members should take the coming August Congressional recess as an opportunity to step up their grassroots effort to pass S. 2231/H.R. 1416, federal legislation that will help small businesses and create jobs. Wisconsin's two U.S. Senators, Herb Kohl and Ron Johnson, are key supporters needed to pass the legislation. Credit unions are urged to visit them between August 6 and September 7 and continue other contacts that can diminish the impact of banks' own deluge of contacts opposing the bill. FULL STORY

Provide initial input by Aug. 24 on mortgage disclosure revisions
Wisconsin credit unions have an opportunity to shape how mortgage-related disclosures are being reshaped—and the new costs and compliance burdens they are likely to impose—as the Consumer Financial Protection Bureau (CFPB) continues its work implementing the Dodd-Frank financial reforms aimed at protecting consumers. The first comment call asks credit unions to weigh in on any burdens—such as in costs or training—that the revised disclosures are likely to pose as well as the timing needed to comply with the changes. FULL STORY

NCUA reallocating exam resources to larger CUs
NCUA currently spends 45% of examination hours on credit unions with less than $50 million in assets, yet this group holds only 7% of overall industry assets. Meanwhile, credit unions with more than $1 billion in assets hold 47% of industry assets and receive only 10% of examination hours. To address this imbalance, NCUA will shift attention to where more of the industry's risk is held. The reallocation of examiner resources from smaller credit unions to the largest ones means examiners will spend less time in well-performing small credit unions. FULL STORY

The NCUA: more you may not have known
In June, NCUA Chairman Debbie Matz explained to League News readers the multi-step process the agency offers credit unions for exam appeals. This month, she shares a few other little-known facts about the agency concerning regulatory relief, mergers, assistance for small credit unions, examiners' perspective, resources to enhance your business lending, access to supplemental capital, and more. FULL STORY

Learn to manage, maximize your credit union's growth
Dozens of the latest innovations that are helping financial institutions reach their strategic goals—as well as a wealth of opportunities and resources to increase member engagement and income—will be showcased as part of The League's Innovators & Educators Roundtable Aug. 15 in Madison. A panel discussion to help you implement change has also been expanded. FULL STORY

From Red to Black: exams, budgeting & planning
With much of this hot summer behind us, it's time to focus on what's hot for fall. This month, The League's Senior Consultant Bill Rockeman offers news and tips to make your fall planning, budgeting, and exam preparation run smoothly. He also shares some events and opportunities you won't want to miss. FULL STORY

Leadership workshop: tools to improve your CU's bottom line
Learn how proper coaching can play an integral role in promoting member satisfaction, employee retention and sustainable performance improvement at The League's Leadership Workshop, Sept. 13 at the Bridgewood Resort in Neenah. Designed for senior and middle managers, this session will provide you with the tools needed to improve bottom line results for your credit union. To register, contact Judy Phillips at (262) 408-6020.

Compliance Roundtable offers the latest updates, practical advice
The League's Compliance Roundtable, set for Sept. 27 in Pewaukee, offers unparallelled opportunity to network, exchange ideas and learn the latest regulation changes. FULL STORY

League honors long-term credit union staff & volunteers
Join The League in honoring credit union staff and volunteers who have shown their long-term commitment to credit unions by dedicating more than 25 years to the movement. FULL STORY

Compliance Compass: guidance on MFOEL plans
Many Wisconsin credit unions offer multi-featured open-end lending, for example CUNA Mutual Group's LOANLINER®. In this month's edition of Compliance Compass, League Legal Affairs Counsel Paul Guttormsson urges credit unions to review the latest guidance from the NCUA and work with their vendors and CUNA Mutual to understand what can and cannot be done when members request advances under such plans. FULL STORY

CU House/Hike the Hill hotel room block release date nearing
The League's annual Credit Union House/Hike the Hill event in Washington, D.C., October 2-3, is your chance to network with Members of Congress and discuss issues that are important to Wisconsin's credit unions. Make sure you book your hotel room at the Liaison Hotel before the August 31 release date. FULL STORY

For the Record: credit unions help Wisconsin consumers
Each month, Wisconsin's state and federal lawmakers receive For the Record, a monthly publication that explains credit unions' purpose and showcases their success serving 2.2 million members. So far this year, the piece has showcased credit unions' community service, REAL Solutions® to build member wealth, video testimonial website, financial education, business loans, over $202 million in member savings on financial services, and aid to Wisconsin consumers during the economic downturn. It's a great tool for Activists—use it as part of your credit unions' own advocacy! See the full archive.

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