In this week’s New York Minute, we’re celebrating International Credit Union Day and this year’s theme, One World Through Cooperative Finance! Additionally, see the latest legislative updates affecting credit unions and stay up to date on current student loan scams. Get the latest New York credit union news in our weekly blog!
Happy International Credit Union Day!
International Credit Union (ICU) Day® has served as a momentous occasion to honor the global credit union movement since 1948. Celebrated annually on the third Thursday of October, this year’s theme, “One World Through Cooperative Finance,” underscores the unique role credit unions play in uniting communities through member-owned financial institutions that prioritize people over profit.
As we celebrate the 76th anniversary of ICU Day, I want to extend my deepest gratitude to all credit union leaders, employees, and volunteers for your hard work and dedication. Your contributions are at the heart of what makes the credit union movement so powerful. In a world where inequality and financial challenges persist, the cooperative model of credit unions continues to offer hope and solutions. Your work continues to empower individuals and strengthen communities across New York.
On behalf of our entire organization, I encourage you to join us in marking this special day. Show your pride in our movement by sharing your celebration on social media using #ICUDay2024. Let’s continue to demonstrate the impact of cooperative finance and the values that unite us.
Thank you for being a vital part of this movement. Together, we are making a difference.
Sincerely,
William J. Mellin President & CEO New York Credit Union Association
Gov. Hochul Signs Law Updating Firearm Regulations
The new law will create new merchant category codes for gun and ammunition retail businesses and dealers to enable financial institutions to monitor suspicious purchasing patterns. California enacted a similar law this year.
On or before May 1, 2025, the law requires credit or debit card issuers to assign the merchant codes to transactions.
MCCs are four-digit codes maintained by the International Organization for Standardization (ISO), which classify merchants by the nature of their businesses. Financial institutions and payment networks, including MasterCard and American Express, use the ISO standard to assign MCCs to merchants in order to determine interchange rates, assess transaction risks, and generally categorize payments. This law will apply to both state and federally chartered financial institutions. Click here to read the bill.
Sponsors of the legislation believe the use of MCC for gun and ammunition retail stores is the first step towards facilitating the collection of valuable financial data that could help law enforcement in countering the financing of terrorism efforts. The use of MCC code could make it easier for financial institutions to monitor certain types of suspicious activities including straw purchases and unlawful bulk purchases that could be used in the commission of domestic terrorist acts or gun trafficking schemes. Such coordination between financial institutions and law enforcement has been instrumental in efforts across the Federal government to identify and prevent illicit activity.
The Attorney General may bring action if violations are not cured within 30 days following written notice.
Student Loan Borrowers: Beware of Scams and Protect Your Credit
The New York Department of State’s Division of Consumer Protection is warning student loan borrowers about the risks of scams and negative credit reporting consequences as the federal student loan grace period ends.
With the grace period over, missed or late payments can now be reported to credit bureaus, potentially impacting your credit score. It’s crucial to stay informed about your loan details, understand the repayment process, and be wary of fraudulent offers.
To protect yourself, avoid sharing personal information with unsolicited callers or emails, verify communication with your loan servicer, and report any suspicious activity. For more information and assistance, read the full release below!
In this week’s New York Minute, we’re diving into the latest news from credit unions across the state. From recognizing the contributions of dedicated leaders to highlighting essential resources and exploring upcoming events, there’s plenty to catch up on.
Meet Our Board: Brad Calhoun
In our latest board member spotlight, learn all about Brad Calhoun, President and CEO of Teachers FCU and a dedicated member of the Association’s board of directors. Brad has been a driving force in the credit union industry for over three decades, known for his passion for serving others and his commitment to the credit union movement.
Read the full blog to learn more about Brad’s career, his insights, and his dedication to your Association’s board of directors and the credit union movement.
We Want to Hear From You! Take Our Annual Membership Survey
We value your opinion and want to hear from you! Please take a few minutes to complete your Association’s Annual Membership Survey. Your feedback is crucial in helping us understand your needs and improve our services.
In our survey, we ask you to evaluate our effectiveness in the following areas:
Advocacy: Advocating for your credit union with lawmakers, regulators, and the general public.
Education: Providing volunteers and paid staff with the knowledge, inspiration, and skills to lead your credit union forward.
Unity: As a torch bearer of credit union philosophy and by diligently working to preserve our unique model of cooperation and mutual support, you are part of a vibrant and moving community, the New York State Credit Union Community. Your Association plays a significant part in helping maintain unity in our movement.
Support: Offering your team tangible products and services that they can deploy to serve your members better.
By participating in the survey, you can share your thoughts, provide valuable insights, and help shape the future of your Association and the credit union movement in New York. Your feedback will help us understand your needs and preferences, identify areas for improvement, and develop new initiatives that better meet your credit union’s goals.
Get ready for the premier credit union event of the year! EXCEL25, your Association’s annual convention, is taking place June 12-15, 2025 at The Sagamore Resort!
EXCEL is the largest gathering of New York credit union professionals and volunteers, offering a unique opportunity to network, learn, and grow. Connect with industry peers, engage in thought-provoking sessions, and expand your skill set through our diverse program offerings.
Last year, EXCEL24 brought together hundreds of credit union professionals for an unforgettable experience. Attendees enjoyed networking opportunities, inspiring speakers, and enriching sessions that covered a wide range of topics.
Stay tuned for more details on registration, speakers, and the exciting lineup of events! Registration will open in January.
Register Today: OPDV Training to Spot Financial Abuse
In recognition of October as Domestic Violence Awareness Month, the New York State Office for the Prevention of Domestic Violence (OPDV) and the Department of Financial Services (DFS) are hosting a valuable training session on financial abuse for professionals in the financial services industry.
This training will equip you with the knowledge and skills to recognize the signs of gender-based violence, understand the connection between physical and financial abuse, and take appropriate steps to support victims. By attending this training, you can become a valuable resource for your members and colleagues, helping to create a safer and more supportive environment.
Register for the training today and join the fight against domestic violence.
SeaComm FCU Supports Massena Hospital Emergency Department Expansion
SeaComm Federal Credit Union has generously donated $50,000 to support the expansion of the Massena Hospital Emergency Department. This investment will help ensure that the community has access to state-of-the-art emergency services in a modernized facility. The renovations will include a refresh of current space and nurse stations, updated exam treatment rooms, a family consult room/lounge, updated behavioral health rooms and registration areas, as well as new flooring and furniture.
SeaComm joins the hospital’s foundation and auxiliary in assisting to improve the overall patient experience when in need of emergency medical services. We commend SeaComm for their commitment to supporting the health and well-being of their community.
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As a dedicated member of the New York Credit Union Association’s board of directors, Brad Calhoun, President and CEO of Teachers Federal Credit Union, brings a wealth of experience and passion to the credit union movement. With a focus on member-centric services and community engagement, Brad is driving innovation and shaping a brighter future for credit unions in New York.
Can you share a brief introduction about yourself, your background, and your professional journey? I serve as President and Chief Executive Officer of Teachers Federal Credit Union, one of the nation’s largest credit unions, serving more than 470,000 members across the United States. Since joining Teachers Federal Credit Union in 2019, I’ve been able to evolve the organization, placing a strong emphasis on transforming experiences for employees and members, focusing on the safety and soundness of the organization, and investing in product development and digital growth. Under my leadership, the credit union grew from $7.2 billion in assets to $9.8 billion in assets and expanded its growth strategies to reach all Americans across the United States. With over 29 years of leadership experience in the financial services industry, I previously served as Chief Retail and Marketing Officer at First Tech Federal Credit Union. At First Tech, I was an integral part of the organization’s transformation and growth. I oversaw a number of major marketing initiatives as well as spearheaded the redesign and strategy for all branch locations, transforming the member experience while simultaneously creating greater member value. I also held several roles during my 18-year career at Bank of America, including Area Executive and Senior Vice President for the bank’s Pacific Northwest Region. Having worked in the credit union industry for the last 12 years of my professional career, I’ve dedicated myself to credit union advocacy and furthering the credit union reach. I currently serve on the Board of Directors of the Association, providing the Association with strategic guidance and ensuring credit unions continue to improve the way they serve their members. Passionate about supporting the community, in 2023 I founded the Annual Teachers Federal Credit Union Golf Tournament, benefiting Children’s Miracle Network Hospitals – the first of its kind in the Northeast. The golf tournament raised over $1,000,000 in its first two years and proceeds benefited children’s hospitals across the country. I also play an active role in supporting The American Cancer Society’s Making Strides Against Breast Cancer and served on the Board of Junior Achievement, Washington, and Junior Achievement, New York for a total of 6 years. I hold a B.S. in Business Administration from California Baptist University. My recent professional awards include: American Banker Innovator of the Year, 2024; American Business Awards Gold Stevie Award for Achievement in Management, 2024; Long Island Business News Influencer in Banking and Finance, 2024; Long Island Business News Executive Circle, 2023; Long Island Harold Top Chief Officers, 2023; Long Island Business News Powerful Influencer in Banking and Finance, 2022
What drew you to the credit union industry? What initially drew me to the credit union industry is the deeply rooted mission of “people helping people.” Unlike other financial institutions, credit unions are built on the idea of service over profit. The focus isn’t just on transactions; it’s on building relationships and improving the financial well-being of our members and communities. That sense of purpose—knowing that every decision we make is about empowering individuals, providing financial education, and helping people have a brighter financial future. Playing a role in the lives of our members–life moments large and small–resonated with me from the start. Credit unions are uniquely positioned to make a meaningful impact in the lives of our members by offering more than just financial services; we provide guidance, education, and support that can truly change lives. Being part of an industry that prioritizes people, and gives back to the community is both inspiring and fulfilling. It aligns perfectly with my personal values and continues to motivate me every day.
What motivated you to join the Association’s board of directors? Joining the Association’s Board of Directors was an opportunity that aligned perfectly with my passion for inspiring and motivating positive change within the credit union movement. What truly motivated me was the chance to further expand the reach of credit unions across New York State, ensuring that more people experience the unique benefits of credit unions’ member-centric model.
Serving on the board allows me to be part of a broader effort to enhance how we, as an industry, serve our members—by driving innovation, fostering collaboration, and advocating for policies that protect and strengthen credit unions. I see this role as an opportunity to bring fresh ideas to the table, improve member service overall, and ensure that credit unions remain agile and responsive to the evolving financial needs of the communities we serve.
In your view, what makes the Association distinct from other financial associations? In my view, what truly sets the Association apart from other financial associations is its unwavering commitment to advancing the unique mission of credit unions in one of the largest and most complex states in the country. New York is home to a vast and varied population, with communities that range from urban centers to rural areas, each with its own distinct financial needs and challenges. The Association embraces this complexity and works tirelessly to ensure that credit unions across the state are equipped to serve their members effectively, no matter where they are.
Why are credit unions important to New Yorkers and the broader community? Credit unions are essential to New Yorkers, especially given the high cost of living in our state. In an environment where financial pressures can weigh heavily on individuals and families, credit unions provide a crucial lifeline. We offer member-first services that focus on helping people—not solely generating profits. This means lower fees, competitive rates, and personalized financial products designed to improve the financial well-being of our members.
What role do you believe a board member plays in the success of the Association? Association board members bring a variety of perspectives, expertise, and a deep commitment to the credit union philosophy of “people helping people.” Our job is to advocate for the interests of credit unions across the state, ensure sound governance, and provide guidance on critical issues facing our industry. The board is critical in shaping the future of credit unions so that we can better serve members and communities. Ultimately, a strong, engaged board is essential for the Association to drive innovation, advocacy, and growth for all credit unions in New York.
What Association initiatives or projects are you most excited about? I’m incredibly excited about the Association’s ongoing efforts to strengthen the credit union movement across New York State. Whether it’s supporting small credit unions that serve as the backbone of their local communities or helping larger institutions amplify their impact, these initiatives ensure that we all continue to deliver on the promise of people helping people. I’m particularly enthusiastic about the Association’s advocacy work at both the state and national levels. Ensuring that regulations support and protect the unique value proposition of credit unions is critical. By championing legislation that allows us to serve our members more effectively and advocating for policies that uphold our principles, the Association is helping us build a stronger, more resilient future for all credit unions and the communities we serve.
What advice would you give to someone considering a board position with the Association? When considering a board position with the Association, it’s essential to actively network with leaders across the industry. By engaging with various leaders across New York credit unions, you gain a deeper understanding of the unique needs and challenges faced by different credit union populations. This holistic perspective ensures that we, as board members, are effectively addressing the needs of all credit unions – regardless of size or geographic location. It’s about embodying the credit union philosophy of ‘people helping people’ by ensuring our strategic decisions and advocacy efforts are truly representative and impactful for everyone we serve.
In what ways has your experience on the board been rewarding? Serving on the board has been incredibly rewarding because it offers a broader perspective on the challenges credit unions face at both the state and national levels, across all asset sizes. It’s an opportunity to collaborate with dedicated leaders who are passionate about our movement and to contribute to shaping the future of the industry. This experience has deepened my understanding of the needs of our members across the state and empowered me to advocate more effectively for policies and initiatives that support credit unions of every size, ensuring we all succeed.
Why should someone consider joining the Association board or becoming more involved with credit unions in general? Joining the Association board or getting more involved with credit unions offers a unique opportunity to make a tangible impact on people’s lives. As a board member, you can influence the direction of the credit union movement, advocate for policies that benefit our communities, and ensure that we remain true to our mission of ‘people helping people.’ It’s a chance to collaborate with like-minded leaders, gain a deeper understanding of the diverse needs of credit unions across the state, and contribute to the growth and success of an industry that prioritizes financial well-being over profit. For anyone passionate about community service and financial empowerment, there’s no better place to make a difference than the Association board.
Outside of Association and your professional life, what are some of your passions or hobbies? Outside of the Association and my professional life, I am extremely passionate about giving back to the community. I dedicate my time volunteering with Children’s Miracle Network Hospitals as well as the American Cancer Society. I am also the proud father to three girls, so I make a point to prioritize spending time with my family. My wife and I love to golf and enjoy the outdoors, especially the beach! I’m grateful for every moment I get to give back to the community and spend with the people I love most.
What’s one book or resource you’d recommend to someone looking to understand the world of credit unions better? While not necessarily about the world of credit unions, I highly recommend all leaders to read All In by Adrian Gostick. It delves into building high-performance cultures and engaging teams, which is incredibly relevant for understanding the collaborative and member-focused nature of credit unions.
Share a fun fact or a memorable anecdote related to your time at the Association. One of the most rewarding aspects of my time with the Association has been the opportunity to connect with leaders across the credit union industry, discussing challenges we are facing, and ways we can partner and win together. We all want what is best for our members and communities, and that is really something special.
Brad’s leadership and commitment to the credit union movement are truly inspiring. As a dedicated member of the Association board, he is driving innovation, advocating for members, and shaping a brighter future for credit unions in New York. We are grateful for his contributions and look forward to the continued positive impact he will have on the credit union movement.
This week, we’re kicking off the FOCUS NY $30k in 30 Days campaign for election season, alongside updates on upcoming events, a CUDE designation for a New York leader, and important deadlines for the CU Trends conference. Stay informed and get involved with the latest in this week’s New York Minute!
Elect to Give: Donate & Give A Voice To Credit Unions in Albany
This month, we’re rallying the credit union community to help us raise $30,000 in 30 days for FOCUS NY, New York’s credit union political action committee. It’s election season and by contributing, you’re ensuring that credit unions have a strong voice in Albany, advocating for policies that protect our members and the communities we serve.
Donate today by texting FOCUSNY to 53-555 or visiting our website to contribute. Together, we can elect candidates who stand with the credit union movement. Let’s make October count—Elect to Give!
Reserve Your Spot: 2025 America’s Credit Unions GAC
Calling all New York credit union advocates! Mark your calendars for the 2025 America’s Credit Unions Governmental Affairs Conference (GAC), from Sunday, March 2nd to Thursday, March 6th in Washington, D.C.
This annual event offers a unique opportunity to connect with leading industry figures and policymakers, advocate for credit unions, gain valuable insights from world-class keynote speakers, network with colleagues from across the country, and discover the latest products and services at the industry’s largest exhibit hall.
This year’s theme, “Together We Move: Moving with Purpose. Moving with Passion. Moving with Strength,” reflects the unity and collective action needed to improve financial well-being nationwide.
Event Details Dates: Sunday March 2nd – Thursday March 6th Location: Walter E. Washington Convention Center, Washington, D.C.
To book your room within the New York Credit Union Association block, click this registration link and use the password “Apple2025.”
Don’t miss this crucial opportunity to raise your voice and advocate for credit unions! For any questions regarding registration or the room block, please contact our Events & Training department at events.training@nycua.org or (800) 342-9835, ext. 8546
Samantha Marie Lethbridge of Visions FCU Earns CUDE Designation
Congratulations to Samantha Marie Lethbridge, of Visions Federal Credit Union, for earning the Credit Union Development Educator (CUDE) designation. Samantha is the only credit union leader from New York in the September 2024 graduating class, joining 49 other leaders from across the U.S.
The CUDE program, facilitated by the National Credit Union Foundation, provides an immersive, week-long experience focused on the core principles of the credit union movement—empathy, community, and financial well-being for all. With her CUDE designation, Samantha will continue to champion the credit union difference and support her members in achieving financial freedom.
Join us online for an engaging half-day conference with industry leaders to discuss the latest in cannabis banking. By implementing a cannabis banking program, your credit union can make your community safer by securely managing deposits and assisting regulators and law enforcement.
Virtual Conference Details Date: Wednesday, October 9, 2024 Time: 9:00 AM – 1:00 PM Login: Instructions will be sent one day prior to the conference.
*Please note: this will only be a live, virtual event and a recording will not be available on-demand.*
Make sure your credit union is represented at this crucial gathering to stay ahead as cannabis rulemaking progresses!
Register Today: United Nations FCU Hosting 7th Annual Credit Union Summit
Join credit unions from around the world as taking action to drive sustainability and positive change. The United in Sustainability (UIS) Summit offers insights on incorporating environmental, social, and governance (ESG) strategies, resources for diversity, equity, inclusion, and belonging (DEIB) programs, and tips on offering green products and services. Connect with global experts and learn best practices for climate risk mitigation.
Event Details Date: October 23rd and 24th Time: 9:00 AM – 4:00 PM (New York time) Location: UN Headquarters, 405 East 45th Street, New York, NY 10017
Attend in-person or virtually! Don’t miss this opportunity to be part of a global movement towards a more sustainable future. Register today!
Last Chance to Reserve a Room for CU Trends: The NY Marketing & Sales Conference
The hotel room block for the 2024 CUTrends: The NY Marketing & Sales Conference closes on October 7th—this is your last chance to secure accommodations! This conference is designed for credit union marketing and sales professionals, featuring sessions on innovative marketing strategies, digital tools, and maximizing ROI. Don’t miss out on engaging with industry experts and discovering the latest trends. Reserve your room now before it’s too late!
To Reserve Your Room: Call (518) 682-8888 – Attendees should identify themselves with the New York Credit Union Association’s room block to ensure that they receive the group rate.
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In this week’s New York Minute, we’re diving into the latest news from credit unions across the state. From recognizing the contributions of dedicated leaders to highlighting essential fraud prevention resources and exploring upcoming events, get the latest updates on New York’s credit unions.
Meet Our Board: Robyn Young
Robyn Young, President & CEO of Great Erie Federal Credit Union and a member of the Association’s board of directors, has been a driving force in the credit union industry for over three decades. Her passion for serving others and her commitment to the credit union movement have made her a valuable asset to the Association.
Robyn’s career in the credit union industry began in 1986 as a teller at Riverside Credit Union. Drawn to the industry’s focus on serving members and improving their financial lives, she joined the Association board to give back and advocate for credit unions.
Learn more about her career and her insights in the full blog!
Protect Your Members from Fraud: League InfoSight Resources
Staying ahead of evolving fraud tactics is crucial for credit unions. Ensure you’re prepared by accessing the materials available to you! League InfoSight offers a comprehensive suite of resources to equip you with the knowledge and tools to combat fraud and protect your members.
Just last month, the League InfoSight Fraud Symposium brought together experts to educate credit union professionals all about various aspects of fraud prevention. This two-day event featured industry experts who tackled critical fraud topics, offering practical guidance and real-world scenarios. Access recordings of the symposium presentations directly on the event page.
By leveraging these resources, your credit union can significantly strengthen your defenses against today’s ever-evolving fraud landscape.
ESL Federal Credit Union to Acquire Generations Bank
ESL Federal Credit Union in Rochester has announced an agreement to purchase Generations Bank in Seneca Falls. The deal, unanimously approved by both organizations’ boards, is expected to close by late 2025, pending regulatory and shareholder approvals.
This acquisition will expand ESL’s presence to more than 30 full-service branches throughout the Greater Rochester and Finger Lakes region. Both ESL and Generations are committed to serving their communities, and this transaction marks another step in ESL’s growth and dedication to providing superior experiences for its members and the communities it serves.
“This move represents a bold step toward greater service, deeper community impact, and a renewed commitment to members in the Finger Lakes and Greater Rochester regions,” said Association President & CEO Bill Mellin. “ESL’s dedication to community prosperity continues to shine through, and this acquisition is a testament to the power of cooperative financial institutions expanding their reach while staying true to their mission.”
SJP FCU Awarded Small Business Relief Program Grant
As a member of the Federal Home Loan Bank of New York, SJP FCU was awarded a $50,000 grant as part of the Small Business Relief Program. The grant was established for businesses and organizations affected by high interest rates and inflation. Upon receiving the $50,000 grant, the credit union decided to pass the grant funds on to five of their Employee Group partners.
The following groups were included: the Catholic Club of Kenmore ($10,000), Kevin’s Catering Inc. ($10,000), Buffalo Bomb Squad Sports Inc. ($10,000), Greater Buffalo Track Club ($10,000), CRJ Landscaping & Snowplowing ($5,000), and Pro Training Basketball, Inc. ($5,000).
Chas Kirsh, Manager & CEO of SJP FCU said “This is a fantastic program and opportunity for our SEGs and our members. We maintain a very close partnership with our Employee Groups and it is a pleasure to strengthen those relationships by providing these much needed grant funds.”
Reserve Your Spot: CEO Roundtable
The 2024 CEO Roundtable is an exclusive event designed for credit union CEOs with assets under $100 million. This gathering provides a unique opportunity to connect with peers, gain valuable insights, and collaborate on shaping the future of the credit union industry.
The CEO Roundtable will feature thought-provoking discussions, networking opportunities, and insightful presentations. You’ll have the chance to learn from industry leaders, share your experiences, and collaborate on strategies to drive your credit union’s success.
To register for the CEO Roundtable and learn more, click below. Save $25 on registration fees when you use code 2024NYM!
