Thought Leadership: Northwest States Leads the Nation in Reduction of Credit Card Debt

What has changed from 2008 through recently? Lou Grilli of Strategic Link partner CSCU shares his insights.

Oregon Delegation to NCSL Leads Way on Cannabis Banking Policy

During the National Conference of State Legislatures, Oregon delegation members led a national resolution urging Congress to let states decide their own legal framework for cannabis banking, an issue front and center for Northwest credit union advocates.

Cloud-Based Tech Brings Three States of Credit Union Professionals Together

In collaboration with the Idaho Credit Union League, the Northwest Credit Union Association implemented cloud-based video conferencing to expand its Networking Councils to seven locations across three states.

New Marijuana Memo Changes Nothing for Credit Unions

The federal government has decided not to challenge state marijuana laws, but credit unions still will have to comply with reporting requirements when they open accounts for marijuana businesses.

Washington Regulator Begins Rule Work on Credit Union Act

With the updated Washington Credit Union Act scheduled to take effect July 28, the next step is for the state regulators to establish a work plan and define the rules for certain provisions in the law. One key priority is defining “reasonable” director compensation. That process moves forward June 20.

Post I-502: Opening a Business Account for Canna-Business?

The fact that marijuana will soon be legal to possess in Washington, but remains illegal under federal law presents an interesting situation for financial institutions being approached by would-be dispensary owners looking for an MBL or other business services. But would providing those services be legal?

Washington State’s One-Page Mortgage Disclosure Rescinded as of June 7

The Washington DFI released a bulletin this week informing credit unions about a change in Washington law. Beginning June 7, disclosures that comply with RESPA will be considered compliant with the disclosure required under state law.

Catalyst Corporate CU Membership Soars

Catalyst Corporate Credit Union, set to acquire certain Western Bridge assets on July 1, has reached more than 1,190 capitalizing member credit unions.

Horizon to Acquire Montana First CU, Extending Reach to Three States

Horizon Credit Union announced plans to acquire Montana First Credit Union, a $63 million institution based in Missoula, Mont. The deal has already been approved by both boards and is expected to be finalized early next year.

Repo Remarketing Reports Company Growth During Repossession Decline

According to Repo Remarketing, repossessing vehicles forces credit unions to balance providing service to their members against preserving the overall financial health of the credit union. Risk analysis and proactive services are keys to navigating this murky territory.

NWCUA Eyes Newly-Proposed Washington Congressional Districts with Interest

This Washington legislative update explains the current status of the newly-proposed Washington congressional districts.

Washington State Redistricting Update

This Washington legislative update explains the timeline and policies surrounding redistricting and reapportionment of legislative and Congressional districts.

With S & P Downgrade, Credit Unions Should Review Investment Policies

Standard and Poor’s downgrade of the United States debt, along with dozens of U.S government related bonds issued by Fannie Mae and Freddie Mac warrants a review of credit unions’ investment policies.

Washingtonians Narrow Ballot Initiatives to Three

This Washington legislative update covers the various initiatives on the ballot in November, including tolling and privatizing liquor stores.

Opening a business account for medical marijuana operation?

Both Oregon and Washington States have statutes that legalize medical marijuana, and special interest groups and activists have plans to file initiatives and legislation to expand the legality of marijuana. So, what are the rules for providing services?

Obama’s Former Budget Director Pushing National Prize-Linked Savings Program

The former director of the U.S. Office of Management and Budget under President Barack Obama and current vice-chairman of global banking at Citigroup this week enthusiastically endorsed prize-linked savings as a way to increase savings among low-to-middle-income Americans.

Regulators Close Spokane Credit Union

News began to emerge Friday that regulators were in Spokane to close $11 million The Union Credit Union, which slipped below an allowable net worth.