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.
Cooperative advertising campaigns educating the public about credit unions may qualify for big savings and broad reach through programs offered by broadcasters’ associations.
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.
“Biz Kid$,” the credit union-backed financial literacy show for kids, will air a special entitled “Three Minutes to Change the World” on OPB in June. “Biz Kid$” was recently nominated for three Emmys and earned its first Parent’s Choice Silver Award.
Your weekly update on the regulatory landscape.
With the positive spotlight shining on credit unions—as well deserved as it is—it’s hard to imagine a time when the publicity could be unfavorable. It happens, however, and your credit union should be prepared.
The CFPB is seeking public comment on a proposal to revise a 2011 rule that the Federal Reserve Board had issued on credit card fees in response to a federal court ruling that had granted a preliminary injunction to block the rule from taking effect.
Can a credit union have a lending promotion where people living in a certain area (like close to a new branch) get a discount on their interest rate?
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here are updates on the Oregon Public Funds program and deadlines for CFPB proposals.
Washington Gov. Christine Gregoire signed the credit union public funds bill into law yesterday, officially allowing public entities to deposit funds in any credit union in the state up to the federal insurance maximum of $250,000.
Last fall’s Bank Transfer Season resulted in increased membership and greater public awareness of credit unions, even among legislators, with many officials pushing to deposit public funds in credit unions as part of broader support for the movement.
The Public Funds bill passed the Washington State House yesterday by a vote of 80-16 with two excused and now needs only to be signed into law by Governor Gregoire.
The Oregon Bankers Association spoke out in opposition of Sam Adams’ Responsible Banking Resolution, which would increase credit unions’ ability to accept public funds. Meanwhile, a similar public funds bill in Washington is nearing passage.
SB 5913, known as the Public Funds Bill, passed the Senate last Thursday by vote of 43-2. With less than a month remaining in the current session, several other bills relevant to the credit union movement are expected to see action soon.
SB 5913—the Public Funds Bill—passed the Washington State Senate Thursday evening by a vote of 43-2 with four excused. The NWCUA is crediting attendees of last week’s Washington State GAC in Olympia with making the critical final push.
Portland’s mayor is seeking input on a Responsible Banking Resolution, which recommends Oregon credit unions be allowed to accept public funds. Meanwhile, Rep. Suzanne Bonamici will be sworn in today and continues to emphasize raising the MBL cap.
Credit union professionals from around the state gathered in Olympia to meet with legislators and candidates to advocate for the credit union movement’s legislative agenda during the Washington Governmental Affairs Conference last week.
A bill to increase the limit on the amount of public funds that credit unions can accept in the state of Washington took another step toward passage, receiving a positive recommendation after a hearing in front of the Washington State Senate Financial Institutions, Housing & Insurance Committee.