Welcome to our Advocacy Section!
Stay informed with the latest in regulations, legislation, and public relations (PR) opportunities impacting credit unions. Our goal is to ensure you're up to date and empowered to make your credit union’s voice heard. We offer valuable resources and opportunities for credit union PR, helping you effectively communicate and promote your credit union's interests. Explore these PR opportunities to elevate your presence and connect with consumers, elevating your credit union’s brand and the entire credit union community’s brand. Whether you're looking to provide input on new regulatory changes or seeking ways to enhance your brand awareness through PR, our Advocacy Section is here to help!
Regulations
NCUA: Incentive-Based Compensation Arrangements (Comments open until 9/16/24)
NCUA: Succession Planning (Comments open until 9/23/24)
NCUA:Agency Information Collection Activities; Proposals, Submissions, and Approvals (Comments open until 9/24/24)
NCUA/Joint: Financial Data Transparency Act Joint Data Standards (Comments open until 10/21/24)
NCUA: Anti-Money Laundering and Countering the Financing of Terrorism Program Requirements (Comments open until 10/8/24)
Legislation
H.R.582: Credit Union Board Modernization Act:
This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.
This bill temporarily grants the National Credit Union Administration Board discretion in determining the amount of capital stock in the National Credit Union Administration Central Liquidity Facility is required for a corporate credit union to become an agent member of the facility. The facility serves as a liquidity lender to member credit unions.
Credit Card Competition Act of 2023
This bill addresses network access and competition in electronic credit transactions. The Board of Governors of the Federal Reserve System must prohibit certain credit card issuers with assets of over $100 billion from restricting the number of networks on which electronic credit card transactions may be processed. These transactions must be able to be processed on at least two networks and must not be restricted to networks (1) owned by or affiliated with the issuer, (2) designated as a national security risk, or (3) that have the largest market share of credit cards issued. Additionally, credit card issuers are prohibited from imposing certain limitations on the routing of electronic credit transactions, such as through penalties for failure to meet a specified threshold of transactions on a particular payment card network. The board must also designate payment card networks that pose a security risk to the United States or are owned, operated, or sponsored by a foreign state entity.
PR Opportunities
MarketWatch: Seeking financial experts to discuss the similarities and differences between checking and savings accounts. (Deadline 9/12/24)
Click here
Behind the Vault Podcast: Looking for credit union leaders to discuss their approach to industry innovation. (Deadline 9/20/24)
Click here
CNN Underscored: Seeking financial expert to discuss the benefits and drawbacks of add-on CDs (Deadline 9/13/24)
Click here
Charities & Causes
Credit Unions for Kids
Credit Unions for Kids is a charitable foundation that supports the Children’s Miracle Network Hospitals. These hospitals provide care for patients, advance treatment and research for illnesses, and much more. The Credit Union Connection fully supports this organization because credit unions are about more than just money.
American Foundation for Suicide Prevention
Suicide is the 11th leading cause of death in the United States, with it claiming more than 49,000 lives in the year 2022. These tragic losses are why The Credit Union Connection supports the American Foundation for Suicide Prevention. They help raise awareness and provide resources to those struggling with suicide, suicidal thoughts, and their loved ones. The AFSP is hosting several walks for suicide prevention awareness across the country.
Click here to sign up for your local walk
Click here to donate to the Credit Union Connection’s AFSP team
Look Before You Lock
Look Before You Lock is a campaign designed to remind people to double check their car for any children or pets before locking their cars. Children and pets locked in cars can easily succumb to heat, potentially causing serious injury or death. This campaign is designed to give people that reminder that could save a life. Each image is downloadable. Feel free to add your credit union’s logo!
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