Straight to The Point

Foundation releases 2016 highlight video
The New York Credit Union Foundation provides the state credit union community with grants and other financial aid that help credit unions deliver adult and youth financial education, enhance member service, train staff and volunteers, and assist those impacted by natural disasters. In an effort to highlight the Foundation’s work last year, the Association has released a 2016 highlight video.

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Association sets conference call on Labor Department’s fiduciary rule
The New York Credit Union Association will host a conference call for members on the Labor Department’s fiduciary rule this Thursday, Feb. 16. The call, scheduled for 11 a.m. and expected to last about an hour, will provide participants with a chance to engage in an open dialogue about the rule and its impact on credit unions that offer 401(k) plans to their employees

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Reminder: Association, MEA to host webinar on Text Concierge service
The New York Credit Union Association will host a free webinar tomorrow at 10 a.m. in conjunction with MEA, a new business partner of the Association. During the webinar, participants can learn more about MEA’s Text Concierge product, a secure two-way texting tool designed to enhance the way credit unions interact with their members.

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State and National News

Bloomberg: The future of the Labor Department’s fiduciary rule remains unclear after the department filed notice to delay the effective date – More

New York Times: The Senate confirmed Steven Mnuchin as Treasury secretary – More

CU Times: The lingering effects of the Great Recession have homeowners staying in their houses longer, keeping potential buyers out of the market – More

CUToday: Same Day ACH usage is strong, and 80 percent of respondents to a recent survey are expecting to see steady growth in 2017 – More

PaymentsSource: Data breaches in the hospitality sector are becoming the norm, and outdated security processes and human error are to blame – More

New York’s State of Mind

NCUA and DFS now have broad powers to address the issues confronting Melrose CU, but the ultimate outcome of the conservatorship remains unclear – More