For more than 20 years the credit unions of Rhode Island have been the lead sponsor of the Annual Credit Union Championships –the Rhode Island’s girls and boys high school basketball finals. This year’s event which takes place on March 21 and March 22 will once again be held at the University of Rhode Island’s Ryan Center. It is proudly sponsored by the credit unions of Rhode Island, the Credit Union Association of Rhode Island, in collaboration with Alloya Corporate Federal Credit Union.
Credit Union CEOs in Massachusetts, New Hampshire, and Rhode Island received an e-mail Tuesday, February 18 asking them to participate in a very important survey designed to gather their thoughts and concerns regarding the NCUA’s proposed Risk Based Net Worth proposal. This proposal would mean that many credit unions that have a set percentage of loans in certain business lines would have to substantially increase the amount of capital that they hold. (Click here to take the survey.)
The Association's newsletter Daily CU Scan is staking out space on Twitter (@DailyCUScan) in order to get the latest breaking news out to member credit unions on a real time basis. “A daily newsletter is a tremendous communication tool,” said Association President Paul Gentile, “but when it is coupled with the ability to get the word out in real time we can really take the idea of timely information to the next level.”
The NCUA confirmed February 11 that there will be no Temporary Corporate Credit Union Stabilization Fund (TCCUSF) assessment charged in 2014 and the agency further stated that credit unions are much less likely to be charged another TCCUSF assessment going forward.
On Monday, credit union executives and volunteers in Rhode Island, Massachusetts, and New Hampshire are going to have access to a new daily information source from the Association called the “Daily CU Scan.” This new publication will put important credit union news in front of you while it is fresh and relevant as well as giving the Association the chance to expand coverage in a number of areas.
Preliminary data from a Credit Union National Association (CUNA) survey show that credit unions have already incurred costs estimated to be in the range of $25 million to $30 million in costs as a result of the Target stores data security breach. Locally, credit unions in Massachusetts have reported that more than 100,000 credit and debit cards have been affected at a cost of $530,000. In New Hampshire, 54,000 cards have been affected to the tune of $144,862; and Rhode Island credit unions indicate that they have 23,000 cards impacted costing $60,495.
2014 natural person federal credit union operating fee rate reduction of 18.4%, and 5.1% increase in the asset dividing point for the 2014 operating fee scale, are detailed in a new National Credit Union Administration (NCUA) letter to federal credit unions (14-FCU-01).
U.S. Court of Appeals for the District of Columbia Circuit Judges David Tatel, Harry Edwards, and Stephen Williams asked questions at oral arguments Friday that raised questions about whether they will fall in line with a lower court ruling that sought to overturn the Federal Reserve’s debit interchange fee cap regulations.
The National Credit Union Administration (NCUA) will host a free webinar, “NCUA Examination Modernization,” on Wednesday, January 22, 2014, at 2:00 p.m. Eastern Standard Time.
The Consumer Financial Protection Bureau (CFPB) announced on January 15 that it is seeking applications for positions on its advisory groups, including the Credit Union Advisory Council (CUAC).