Compliance Center: DOL Releases Final Fiduciary Rule Amendments

The Department of Labor (DOL) recently released the Final Rule defining the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement arrangement (IRA) acts as a fiduciary under the Employee Income Security Act (ERISA).

NCUA Board Headlines: Bank Note Investment Flexibility and Positive Net for Stabilization Fund

In its third open meeting of the year, the National Credit Union Administration Board approved a more flexible bank notes rule and announced a $302 million net position gain in the Stabilization Fund.

News & Notes: Here’s What’s Happening Around the Northwest

Inspirus to open Lynwood branch; St. Helens Raises $3,260 for food bank; Sound welcomes two new Directors and a VP of Business Lending; OnPoint expands wealth management services.

Members Turn to Credit Unions for Financial Education and Advice

With financial literacy so engrained in the movement’s DNA, it’s probably no surprise that more and more members are turning to their credit unions for help and advice.

NCUA Releases Final Rule on Federally Insured Credit Union CUSOs

The National Credit Union Administration (NCUA) released its final rule addressing CUSO supervision during its board meeting in Washington, D.C., last week.

Left-Behind 401(k) Accounts: Here Are Two Common Mistakes to Avoid

If you have a 401(k) account still being administrated by a former employer, avoid two common—and potentially very costly—mistakes people make in this situation: cashing out the account early or ignoring the account.

Kim Vu Steps into New Role to Advance Community Investment and Social Impact for Northwest Credit Unions

An innovator known for building partnerships between credit unions, philanthropic programs and technology ventures will join the Northwest Credit Union Association as its Vice President of Community Investment and Social Impact. Kim Vu will also serve the Northwest Credit Union Foundation as Executive Director.

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.

Credit Unions Look to Catalyst for Investment Answers

Low interest rates, high liquidity, increased regulation and concerns over interest rate risk made 2012 another challenging year for credit union management, and credit unions have increasingly turned to their corporate credit union for support and guidance.

Compliance Question of the Week

What are permissible investments for my credit union?

Compliance Question of the Week

Can a credit union set up annuity accounts?

CMG: Prepare for Misunderstandings About New Retirement Plan Fee Disclosures

Credit unions have 4 days left to provide detailed information about employee retirement plan fees. Is your HR Department ready for the questions?

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.

Compliance Question of the Week

What is a business development company, and can a credit union invest in one?

NCUA Finalizes Changes to RegFlex

The NCUA board of directors unanimously approved a final rule extending RegFlex provisions to all federal credit unions and eliminating the RegFlex designation program.

Rivermark’s Burgess Appointed to Oregon Growth Board

Scott Burgess, president and CEO of Rivermark Community Credit Union, was appointed by Gov. John Kitzhaber to serve on the newly formed Oregon Growth Board, which will oversee a more efficient, effective jobs and business growth program.

CUNA Mutual Group Demonstrates Its Value of Supporting Credit Unions Through Difficult Times

Jeff Post, president and CEO of Strategic Link strategic partner CUNA Mutual Group, explains some of the many ways the organization supported credit unions throughout last year’s economic and social turbulence.

Oregon Investment Act Seeks to Stimulate State Economy with Credit Union Support

Jean Wheat-Palm testified on behalf of the Oregon State Treasurer’s office in favor of House Bill 4040, which would consolidate a number of the state’s economic development resources under the Oregon Growth Board.