Straight to The Point: December 21


Good morning. It’s official: The oft-talked about tax reform legislation has cleared the Congress and is awaiting President Donald Trump’s signature. The credit union tax status was left untouched. CUNA’s analysis explores other was the legislation could touch credit unions. Here’s what’s happing on this Thursday morning:

star3 The New York Credit Union Association last week hosted a webinar on Bank Secrecy Act compliance. An archived version of that webinar is now available for Association member credit unions to view on demand – NYCUA

star3 New York credit union advocates who are attending the 2018 CUNA Governmental Affairs Conference should complete and submit their Hill meeting request forms to help Association staff secure meeting times with federal lawmakers – NYCUA

star3 CUNA Mutual Group has released its December Credit Union Trends report, compiled with data collected in October. Notably, the report found that credit union memberships grew at the fastest pace in more than 25 years – CUNA Mutual Group

star3 Congressional leaders have said a so-called technical corrections bill likely will be necessary to fix unintended consequences and errors in the massive tax reform bill, meaning the credit union tax status could still become a target – CU Times

star3 Just two new credit unions were chartered in 2017, likely because the chartering process takes a significant amount of time, money, and a high tolerance for frustration and rejection – CU Journal

star3 The top tech priorities for the banking industry in 2018 include developing AI applications, adding fintech allies and strengthening cyberdefenses – American Banker

star3 Credit union members remain satisfied overall with their financial institutions, with one study rating nationwide member satisfaction at 84 out of a possible 100 – CUToday

star3 The IRS is clogging the mortgage drain – New York’s State of Mind

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