CU-VUES: August 31, 2017


CUAid has been activated for credit unions and individuals impacted by Hurricane Harvey. Visit to learn how you can help support your credit union peers in the affected areas.

Post-war era brought growth, changes for New York’s credit unions

In the 1950s, New York credit unions experienced continued growth. A record 1,006 credit unions were reported by the state in 1956—the same year this publication, CU-VUES, was originally launched.

The 50s again saw New Yorkers play a substantial role in advocating for legislation to broaden the scope of the Federal Credit Union Act. New York credit union advocates played a key role in the passage of H.R. 8305, which updated and expanded the Federal Credit Union Act and authorized federal credit unions to cash checks for members.

However, the 1960s brought with it a fundamental and somewhat familiar change, as the number of credit unions decreased, while membership numbers grew substantially. In response to this change, the focus of the New York State Credit Union League shifted to provide education, services and products to member credit unions.

But the focus on advocacy never wavered: In 1963, President John F. Kennedy signed into law important amendments to the Federal Credit Union Act that extended the time during which credit unions could hold their annual meetings.

star3 The CFPB yesterday announced its annual adjustments to the dollar amounts of various thresholds under Truth in Lending Act regulations – CFPB

star3 Registration is open for the Association’s Tech Forward conference. The event will feature a wide range of presenters and fintech experts who will explain how credit unions can embrace and harness emerging technologies – NYCUA

star3 Caution should be exercised with emails, attachments and hyperlinks requesting donations for Hurricane Harvey relief, as an uptick in malicious cyberactivity is expected – CU Times

star3 NCUA sent a memorandum of understanding to its unionized employees that outlines details about the agency’s reorganization, personnel changes and more – CU Today

star3 Lawmakers in both chambers are working to renew the debt-riddled National Flood Insurance Program before a Sept. 30 deadline – The Hill

star3 The Department of Housing and Urban Development announced plans to raise premiums and place tighter loan limits on its reverse mortgage program – HousingWire

star3 New research shows that security passwords’ lack of reliability in defending against cyberattacks is an issue for both individual consumers, and system administrators – PYMNTS


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