Earlier this year, DCUC and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the NCUA Board.
In the letter, we asked the NCUA to amend the definition of “qualified charity” as it relates to Charitable Donation Accounts (CDAs) in Part 721.3 of NCUA regulations to include 501(c)(19) veterans’ organizations. Today, our efforts were a great success!
Take a moment and think about your own path; surely you can identify a mentor that had an impact on the trajectory of your career. When I look back on my career, both in the technology industry and the credit union industry, I can think of several. So, when Tony asked whether I’d be a mentor for one of the Crashers at the recent DCUC Annual Conference in August, I excitedly accepted. Though we didn’t have too much time together (our schedules are all PACKED!), we did share introductions, including career paths and aspirations, met for lunch, and checked on each other multiple times throughout the conference. We also followed up after the conference with promised communication specific to topics we discussed at the conference. A very positive experience if you’ve never participated!
The September melodrama over a federal government shutdown may have overshadowed other important defense-related issues in the headlines, but DCUC has stayed focused on the essential matters at hand that are important to you, our members, as the calendar moves to October.
The Consumer Financial Protection Bureau (CFPB) was on the hot seat in the Supreme Court October 3 as oral arguments in the case challenging its constitutionality and funding began.
In the case being heard, the Community Financial Services Association (CFSA) is seeking to block the enforcement of
Consumer Financial Protection Bureau rules designed to restrict payday lending products. The CFSA is arguing that Congress violated the Constitution’s appropriations clause when it granted the CFPB a portion of the Federal Reserve’s operating budget. The US Fifth Circuit Court of Appeals found in favor of the CFSA, using language suggesting that only funds appropriated through the annual Congressional process are legal.
For over 60 years, DCUC has successfully advocated for all credit unions serving our military and veteran communities across the globe. No other trade association accomplishes this important mission quite like DCUC. We are proud to do so and remain confident and firm in our mission no matter the situation. As part of this mission, DCUC is always ready to champion innovative solutions that enable our member credit unions to better serve our Nation’s military, veterans, and their families. Yet, innovation needs to still comply with existing rules and regulations that are in place to ensure the security of those we serve.
In the midst of looming uncertainty over a potential government shutdown, the role of credit unions as pillars of financial stability, gains even more significance. As not-for-profits, credit unions have consistently proven themselves to be the safest option for safeguarding the financial security of their members.
DCUC recently announced Jack Fallis, President, PNW & International Markets Global CU, as the new DCUC Board Chairman. Fallis has served on DCUC’s Board of Directors since 2017, most recently as 1st Vice Chair. Fallis officially assumed the role of Chairman after a “DCUC first-ever” passing of the gavel ceremony held during DCUC’s Annual Conference and Hall of Honor gala on Thursday, August 10.
Capital Corner: September Promising to Be the Busiest and Most Consequential Month of 2023 in Washington
Provided by John McKechnie
Several critical issues are on the clock, and DCUC is on top of all of them. Here’s a grab bag of what we’re watching
We all know that change is the only “constant” successful organizations anticipate, plan for, and manage as time marches on. When change occurs or is necessary, the choice is simple: adapt or wither away. How many department stores, communication devices, and video arcades are no longer part of our culture?
DCUC, CUNA, and NAFCU sent a joint trades letter to Senator Patty Murray (D-WA) expressing our support of the Senate Amendment 206 to the 2024 NDAA. This amendment would help to remove many current constraints and barriers DoD has recently placed on credit unions. It would also aid in increasing proficiency in financial literacy efforts on installations and improve the financial readiness of our Nation’s service members.
DCUC and eight trade associations representing banks and credit unions, including those primarily serving military-affiliated customers and members, released a joint statement opposing Senator Roger Marshall's (R-KS) efforts to derail the National Defense Authorization Act (NDAA) unless the Senator receives consideration for his proposed credit card routing legislation (S. 1838) as an amendment: