Inspirus Donates More Than $30,000 in Classroom Supplies to Spokane-Area Schools
Surprise donation supported projects and classroom supplies through DonorsChoose.org.
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Point West Completes CDFI Certification Featured in NCUA Video
Newrizons, Lighthouse Community, and Point West were featured as CDFI success stories in a new video series from the NCUA. Read an update on Point West’s CDFI status since the video was filmed.
NCUA Has $1.2 Million Grant Fund for Low-Income Credit Unions
The NCUA has $1.2 million to give to low-income credit unions looking to launch new products, gain CDFI certification or develop staff. Grants are being accepted through June 30.
NCUA To Award First Round of Grants for CDFI Certification Applicants, New Products and Summer Internships
Low-income-designated credit unions can receive as much as $16,500 for CDFI certification, new products and student internships when the National Credit Union Administration awards its first round of technical-assistance grants in 2014. Applications will be accepted Feb. 3-14.
Kitzhaber Calls Oregon Legislators Back to Special Session
Oregon Gov. John Kitzhaber has called legislators back to Salem for a special session beginning Monday, Sept. 30. On the agenda: an agreement between the governor and legislative leaders to increase school funding by $140 million. The special session comes on the heels of the last week’s Interim Legislative Days, when the Oregon Legislative Assembly held three days of “informational hearings” on legislation that passed in 2013.
Western Sky Financial LLC Will Stop Funding Loans Next Week
Western Sky Financial, a lender who came under numerous state and federal microscopes for extreme interest rates, will stop making loans next week.
Washington DFI Issues Guidance on State Credit Union Investments in Employee Benefit Trusts
DCU Interpretive Letter I-13-02 concludes that state-chartered credit unions may make certain investments that are otherwise impermissible as long as they are for the express purpose of funding employee benefit obligations.
NCUA Awards $1.4 Million in CDRLF Grants Following 77-Percent Increase in Applications
The NCUA will issue $1.4 million in CDRLF grants to more than 100 small credit unions. NCUA OSCUI Director William Myers said the NCUA saw 77-percent more applications after “a concerted effort this year to make it easier to apply for these grants.”
Industrial Credit Union Receives $1.5m Community Development Award
Industrial will use its award to establish a small business and microenterprise loan program, which should create 1,500 jobs in Whatcom County.
Impact of Fed Plan to Purchase Treasury Bonds on Defined Benefit Plans
The plan to buy more Treasury bonds announced by the Federal Reserve on November 3 could increase pressure on credit union’s defined benefits plan in the form of lower funding ratios, larger pension expense.