Provided by John McKechnie There’s been an uptick in activity in Washington on issues of interest to defense credit unions, particularly the evolving use of payment system technology. Key question: how are Congress and regulators going to adapt to changed consumer needs in a new financial landscape?
First off, thank you for your participation in industry-wide events and meetings, especially as they directly impact your ability to serve those who serve our country. As a member-based organization, the title of this article is self-evident. Trade associations, leagues, and other system partners will always have their own opinions. However, these opinions must be shaped by the views expressed by members themselves, or else you risk losing the members your organization is supposed to represent.
Provided by Robin Larsen, DCUC Board of Directors Member and president/CEO, Cobalt CU ITIN (Individual Taxpayer Identification Number) lending is important to credit union members, especially for those who might not have a Social Security Number but still want access to credit and financial services in the United States.
Provided by John McKechnie In politics, surprises are rarely good news. But now, as 2024 starts to take shape, unexpected developments on a couple of key issues show potential to help credit unions advance our agenda on Capitol Hill.
America’s Credit Unions held their first Governmental Affairs Conference (GAC) as a merged entity. It was great to see many friends and industry colleagues who traveled across the globe to attend the conference. My thoughts were challenged and inspired by the many discussions this past week about the future of the credit union industry.
Provided by John McKechnie Last month I looked ahead at 2024 from a regulator’s perspective—what can defense credit unions expect from NCUA and CFPB? This month I am going to lay out (guess) what Capitol Hill is going to do on credit unions, and what that will mean for your credit union.
Relax. This isn’t another article on how close science fiction books and movies got things right 30 or 40 years ago. Although many things have changed for the better or worse (as predicted), we are still living in a world where the future has many possibilities. However, securing a successful future is often only made possible for those willing to act now. Windows of opportunity only exist for a moment—and then they are gone, maybe forever.
Provided by Jack Fallis, DCUC Board of Directors Chair and President, PNW & International Markets, Global CU 2024 holds great promise! Last year, defense credit unions expertly navigated through economic shifts, geopolitical tensions, and cybersecurity threats. DCUC continues to stand firm with our members as we adapt to the changing credit union industry landscape.
Provided by John McKechnie
At the beginning of each year, it’s tempting to do a “predictions” column, where you make a lot of educated (and uneducated) guesses about the next 12 months. And as a DC observer you do this hoping that the reader won’t hold you accountable for your hits and misses next January. Given the merger of the two largest credit union trade associations, and the merger of the two largest credit union payment system providers, the credit union industry as a whole is changing. Whether we like it or not, and whether we can control how things change, one thing for certain is the industry will never be the same. This applies to DCUC, as well.
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