Straight to The Point

Association staff provide updates at WOCCU event in Puerto Rico
New York Credit Union Association SVP and Chief Engagement Officer Ron McLean and VP of Compliance Mike Carter presented Association and compliance updates during a World Council of Credit Unions conference in San Juan, Puerto Rico, yesterday. Sponsored by CUNA Mutual Group, the event drew about 50 attendees from Puerto Rico and the U.S. Virgin Islands.

During the event, Carter’s update focused on the Home Mortgage Disclosure Act, member business lending regulations, the impact the Trump administration may have on credit unions and possible changes to the CFPB.

McLean discussed the benefits of Association membership and outlined the services the Association can provide the cooperativas on the island.

“The Puerto Rican coopertivas share the same credit union philosophy of trying to build a better life for their members, and they share many of the same challenges our New York credit unions face,” said McLean. “Our goal is to continue supporting our longstanding partnership with the cooperativas and provide assistance and solutions where possible.”

America, Military Saves Week approaching
America Saves Week and Military Saves Week are scheduled for Feb. 27-March 4, and credit unions can use the occasions to help members develop sound saving habits. Credit unions are encouraged to register as an America Saves Week participant and promote the weeklong event with the free turnkey marketing materials available on the America Saves website.

The Department of Defense will also hold Military Saves Week in conjunction with America Saves Week. Credit unions that serve military members can use the promotion to encourage service members and their families to save money, reduce debt and build wealth. To learn more, visit the Military Saves Week website.

Deadline approaching for Frontline Compliance registrations
The New York Credit Union Association is again offering the popular Frontline Compliance Certificate Program, a seven-part webinar series that equips frontline staff with the knowledge and tools needed to comply with the latest regulations. The series will begin March 8, and registrations are due March 1.

More: 2017 Frontline Compliance series

State and National News

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CU Times: The House Financial Services Committee will likely move forward with Rep. Jeb Hensarling’s Dodd-Frank Act alternative, but hurdles remain in the Senate – More

American Banker: Malicious software has been getting more stealthy and effective over time, as its authors get progressively better at evading anti-virus programs – More

Reuters: U.S. interest rates can likely remain low through at least 2017, St. Louis Federal Reserve Bank President James Bullard said Thursday – More

New York Times: Economists have grown more skeptical that the traditional measure of gross domestic product is accurately capturing much of the economy’s innovation and improvements – More