Northwest Credit Union Association-backed bills on credit freezes, foreclosure, and mortgage fraud are progressing in the Washington legislature. Expect to see a flurry of activity in the final three weeks of the session.
As the Washington State Legislature rolls into its third week, credit unions’ policy advancement strategy is firmly focused on legislation concerning public fund deposits and payroll cards.
Would your members appreciate an ATM where they could make deposits? Portland-based Peregrin Financial Technologies has an NCR deposit taking ATM available July 27, and they are currently accepting offers.
Numerica Credit Union’s Carla Altepeter: Opening Accounts for Marijuana Businesses is ‘In the Best Interests of Our Members and Their Communities’
With 2013 in the rear-view mirror, Anthem asked Northwest credit union presidents and CEOs to reflect on the past, consider what lies ahead and talk about the challenges — and the opportunities — that await credit unions in 2014. Today: President/CEO Carla Altepeter talks about Numerica Credit Union’s decision to become the first Washington financial institution to open accounts for licensed marijuana growers and processors.
Northwest credit unions recorded greater asset growth, greater loan growth and a slightly higher ROAA than the region’s banks in the third quarter of 2013, an analysis by the Northwest Credit Union Association shows.
The Washington regulator has issued a bulletin for credit unions interested in accepting public funds deposits. Credit unions that qualify may accept up to $250,000 per public depositor.
Northwest credit unions outpaced the region’s for-profit banks in total year-over-year asset, loan, deposit and capital growth in 2012 while also showing favorable trends in terms of delinquency rates.
Oregon’s expanded Credit Union Public Funds Collateralization Program launched Monday, giving government entities more local options for deciding where to deposit their funds. Five cities have already agreed to deposit funds in credit unions in excess of the $250,000 insurance limit.
Beginning April 1, all of Oregon’s public entities—including city governments, schools and fire departments, among many others—will be able to deposit money in their local credit unions.
Oregon Legislature in Session, Considering Bills Stemming from Bankers’ Anti-Credit Union Task Force
On the docket in the Oregon Legislature are three bills introduced by the Oregon Bankers Association as part of a targeted effort based on the work of an anti-credit union task force created last summer. In addition to opposing these bills, the NWCUA has established a seven-point legislative agenda for the current session.
The most recent available data shows that Northwest credit unions’ deposit market share has remained steady in recent years, showing slight growth since 2010, while year-over-year deposit increases since 2011 show signs of economic recovery and credit union membership growth.
Five Oregon credit unions have submitted the required notice and paperwork with the Oregon State Treasury to allow them to accept and safely hold large public fund deposits. New collateral protection will allow credit unions to accept public deposits above the current $250,000 beginning April 1, 2013.
City of Portland Releases Second Investment Portfolio Summary Since Making ‘Responsible Banking’ Deposits
The city of Portland has released its second Investment Portfolio Summary since making its first public funds deposits with a group of 10 credit unions and banks in May as part of Mayor Sam Adams’ Responsible Banking Resolution.
Unitus Community Credit Union reported receiving a public funds deposit from the city of Portland in June, marking the third Oregon credit union to take such a deposit as part of the city’s recently passed Responsible Banking Resolution.
Seven credit unions in Oregon and Washington reported more than $959,431 in new youth deposits as part of CUNA’s National Youth Saving Challenge, an initiative coinciding with National Credit Union Youth Week in April.
News reports of the financial upheaval in Europe have begun describing the situation as a “bank run,” which will likely lead to consumer questions about the stability of American financial institutions as media coverage expands.
Should I file a CTR?
Where on our website do we have to include the NCUA and Equal Housing logos?