NCUA: Personal Guarantee Waivers No Longer Required for Member Business Loans

Under certain circumstances, credit unions may now make member business loans without requiring a personal guarantee.

Updated: Oregon Marijuana Bill Signed Into Law

Governor Kate Brown signed HB 4094 into law on March 29. NWCUA lauded the news as an “important first step” for credit unions looking to provide financial services to legal marijuana businesses.

Metsger Addressed Oregon Credit Union Advocates

NCUA Vice Chair Rick Metsger isn’t fazed by bank lobby claims the regulator is overstepping its authority. Metsger said “90 percent” of regulatory changes credit unions want to better serve their members, NCUA can provide.

Loyal to this Outfit: How USAgencies Earned the Loyalty of One Veteran

How one credit union’s extraordinary personal service won over a loyal member not just for life, but for generations.

Washington Pot Shops Open; Banking Still up in the Air

Washington’s first legal pot shops are opening their doors this week. Customers are lining up, but financial institutions are not.

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.

Comply with NCUA Regulations and Still Grow a Loan Portfolio? Lending Insights Webcast will Explain How

Can a credit union successfully meet compliance standards and still experience loan portfolio growth in 2014? It’s absolutely possible, Lending Insights says, and the Strategic Link partner is hosting two webcasts to show how.

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.

Credit Union Checking is Still the Consumer’s Best Bet

Media reports this week spotlighted the increasing fees consumers are paying for NSF checks, however, a study shows credit unions impose such fees much less frequently than banks.

Credit Unions’ Ability to Bank Marijuana Businesses Still Hazy

Credit unions continue to receive inquires about opening business accounts for businesses in Washington’s newly legal marijuana industry. But federal structure has not been determined and credit unions are advised to wait for clear guidance before accepting the accounts.

Credit Unions’ Ability to Bank Marijuana Businesses Still Hazy

The passage of I-502 in Washington last November has prompted extensive discussion regarding how credit unions should handle requests to open a business account for a business in the newly legal “marijuana industry.” The NWCUA’s David Curtis offers several factors to consider before deciding whether or not to bank these types of businesses.

CFPB Updates Procedure for Submitting Credit Card Agreements

To lessen the collection burden, the CFPB has updated the quarterly card agreement collection process, giving issuers the option to send information to the CFPB by email.

Portland Hotel Fire Unrelated to NWCUA Annual Convention

A five-alarm fire that destroyed a vacant hotel in North Portland early Sunday morning will have no impact on the NWCUA’s 2012 Convention and Annual Business Meeting. Lodging on the Convention site is full, but new overflow options are available for attendees.

White House Withdraws Leon-Decker’s NCUA Board Nomination

The White House announced yesterday that it has withdrawn the nomination of Carla Leon-Decker to join the NCUA board of directors. Meanwhile, the NCUA reached settlement in its suit filed against HSBC, recovering $5.25 million.

Heightened Credit Union Awareness Extends to Elected Officials

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.

Harborstone’s Jones Speaks at Small-Business Forum

Harborstone Credit Union CEO Phil Jones spoke on behalf of the credit union movement at Rep. Adam Smith’s Small-Business Forum last week, highlighting the capacity of credit unions to provide capital to small-business owners through increased member business lending.

Compliance Question of the Week

Is a credit union considered a federal contractor for affirmative action purposes when it is authorized to issue savings bonds? And since we will no longer issue savings bonds starting on Jan. 1, 2012, do we still need to have an affirmative action plan?

Wine on the Willamette Tickets Still Available; Credit Unions for Kids Fundraiser to Showcase Outstanding Wines

Unitus Community Credit Union’s fourth annual Wine on the Willamette event will benefit Credit Unions for Kids and the Children’s Miracle Network Hospitals. Tickets are still available for the gala, which is being held on the Willamette Star, a 98-foot yacht.