|Life Is Not a Game:
Credit Union Convention
(Issue 1 of 6)
As of press time, the 2014 GCUA Annual Convention is in full swing! Credit union leaders from around the state are in Savannah this week to hear from a myriad of speakers for insight and ideas on how to proactively create a positive future for their institutions. With the theme of “Life Is Not a Game,” participants are seeing firsthand how credit unions help people afford life, how to navigate life as an institution, and tools to help members succeed. This is illustrated for the perspective of senior leaders of credit unions, board leaders of credit unions, and as future leaders of credit unions.
|Campaign Season = Opportunity for Credit Unions! (Issue 2 of 6)
Credit unions across Georgia are making an impact in the 2014 primary elections and getting involved. Why? Engaging with candidates through physical campaign support is powerful as it develops strong relationships with elected officials, as well as helps support credit union supporters – it grows the legislative influence for the entire industry. When one considers the amount of time and effort put forth to build relationships, the act of helping pro-credit union candidates get elected (or re-elected) is an investment in your credit union.
Credit Union Campaigning: Phone Banks
Credit Union Campaigning: Yard Signs
The time that all of these credit union individuals shared has a direct impact on the elections, and helped build even stronger relationships with those who make decisions on the bills that could change how you serve your members. Please click here to see previous campaign activity by credit unions in the 2014 elections, and watch for opportunities and events in your area. Although politics is a personal matter, having a voice on legislative issues is a priority. Take advantage of the opportunities this election year to engage in campaigns!
|Credit Union Board Members Running for Office (Issue 3 of 6)
There are five credit union board members running in the state/federal elections on May 20th. Why would this be important to your credit union? Individuals who are connected with credit unions at this level have a strong understanding of the unique needs of the industry, which is extremely beneficial from a legislative perspective. These individuals are:
|U.S. House Passes Three Pro-Credit Union Bills (Issue 4 of 6)
In the evening hours of May 7th, three credit union regulatory relief bills passed the full U.S. House. The bills, two of which are stand-alone credit union measures, are important steps in a broad relief agenda to attack regulatory burden from a number of fronts:
|Speak Out to NCUA on Risk-Based Capital Proposal Concerns
(Issue 5 of 6)
Early this year, NCUA released a proposed risk- based capital rule that would have a major impact on federally insured credit unions. And while the industry is supportive of some form of risk-based capital, if the current proposal does not have substantial changes before it is adopted it will have a major impact on credit unions. In brief, the proposal would:
In order for risk-based capital to be implemented correctly, it must be part of overall capital and prompt corrective action reform. Credit unions need to weigh in with their concerns to NCUA before the May 28th comment period deadline. You can do so by clicking here and writing your own customizable letter.
The credit union concerns have been voiced in Congress. Reps. Peter King (R-NY) and Gregory Meeks (D-NY) circulated a letter urging NCUA to rethink its proposed rule. The letter calls on NCUA to make changes to the proposal to “ensure it does not unduly burden credit unions” and does not affect healthy credit unions’ ability to meet members’ needs. GCUA actively worked along with the other states to garner support of the letter and by the end of the day on May 12th more than 320 House members had agreed to sign their names in support of credit unions. Special thanks to the following eleven Georgia House members who added their support to our cause: House Financial Services Committee members Reps. Lynn Westmorland (R-3) and David Scott(D-13) as well as Reps. Jack Kingston (R-1), Sanford Bishop (D-2), Hank Johnson (D-4), John Lewis (D-5), Tom Price (R-6), Rob Woodall (R-7), Austin Scott (R-8), John Barrow (D-12) and Tom Graves (R-14).
|Hampel Named Interim CEO of CUNA (Issue 6 of 6)
CUNA announced on May 7th that its Chief Economist, Bill Hampel, will serve as interim president/CEO effective June 11. Hampel, a senior member of CUNA's credit union advocacy team in Washington, is one of the longest-tenured executives at CUNA, having joined the association as an economist in 1978. He is no stranger to the Georgia credit union community, as he has been a frequent speaker at various meetings and at the Hike the Hill.