Golden Parachute Rule Curtails Payouts at Troubled CUs

The rule also limits a federally insured credit union’s ability to provide indemnification.

NCUA Board Holds Busy Meeting

A full overview of the May 19 meeting includes the Board’s actions on indemnification provisions, prepayment of corporate stabilization fund assessments, and a rule clarifying the temporary unlimited deposit insurance mandated by Dodd Frank.

Compliance Question of the Week

How is it that the NCUA is enforcing the SAFE Act on state-chartered credit unions?

Help the Troops Call Home – Free

Invest in America and GM will be able to support the first 1,000 Point of Sales kits requested by credit unions. Don’t wait—submit your request now!

Puget Sound Area Economy Struggling to Rebound

The first article in our series on the region’s economic health focuses on Seattle, Tacoma, and Everett.

Foundations Give $90,000 Back to NW Credit Unions, Causes

Many of these funds went to support educational opportunities such as the Western CUNA Management School and disaster relief following storms in the Southern U.S.

In the Spotlight: Summit Volunteer Awards

Nominations are due by June 15 for the Volunteer Award program, which honors and rewards those NW CU volunteers who have exemplified outstanding leadership and service.

Seven Risks a Director Must Understand to Fulfill the ‘Duty of Care’

CPA Linda Keith, a speaker at the Volunteers Conference, outlines directors’ responsibilities under Regulation 704.4(b) and some tips to ensure volunteers can meet these standards.

Member & Chapter News

Columbia CU won two SBA awards and a Seattle CU professional was a finalist for the COOP THINK prize, plus the usual trove of chapter announcements.

Treasury Says New Garnishment Rule Applies Only To Court Orders

CUs must review accounts for Federal Benefit Funds only upon receipt of a garnishment order, but there is some confusion in the rule’s definitions.

Legal Briefs

Your update on the regulatory landscape.

NWCUA Announces Partnership with OfficeMax

Under the program, credit unions order materials at a discount through the OfficeMax website, which are then delivered within one business day.

Washington Legislative Week in Review

An update on various legislations that may affect credit unions, including a foreclosure mediation update, redistricting plans, and changes to the property recording surcharge.