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December 2024

NCUA Board Approves Non-Registered Investment Fund Pilot Program

The National Credit Union Administration Board approved, by notation vote, an investment pilot program authorized under section 703.19(c) of the NCUA’s regulations. The NCUA will permit up to 30 complex federal credit unions to engage in investment activities prohibited under part 703 but permitted by the Federal Credit Union Act. ALM First Financial Advisors, LLC., […]

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Mountain America Credit Union Boosts BroncoLife with First Down Donation Program

Credit union pledged donations to support student-athletes for each Boise State first down in 2024 As the official credit union of the Boise State Broncos, Mountain America Credit Union continues its support of BroncoLife through the First Down donation program. Through this unique program, the credit union committed a donation to BroncoLife for every first

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Credit Unions Announce New Hires; GreenState CU SVP Receives JA Gold Leadership Award

A few credit unions including Royal Credit Union and Climb Credit Union announced new hires, and an SVP from GreenState Credit Union received a top national honor for volunteerism. New Hires Glia announced that channel ecosystem powerhouse Ray Hicken has joined Glia as an executive channel advisor. In this role, Hicken is fortifying and expanding Glia’s

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First Tech Announces Opening of New Bellevue Branch

Credit Union expands Washington presence to enhance accessibility of financial services for local tech workers First Tech Federal Credit Union (First Tech) announced the opening of a new and modern, state-of-the-art experience center (XC) in downtown Bellevue to enhance access to financial services for locals working in tech. Located in the innovative 555 Tower next

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Larry W. Cook Estate\’s Appeal Granted in Negligence Lawsuit Brought Against Navy Federal Credit Union After $3.6 Million of Elderly Veteran\’s Savings Allegedly Sent to Scam Artists

A Washington state woman\’s appeal has been granted in a $3.6 million negligence lawsuit against Wells Fargo and Navy Federal Credit Union. The lawsuit, which concerns alleged fraudulent wire transactions, is scheduled for oral arguments on March 18-21 before the U.S. Court of Appeals for the Fourth Circuit. Janine Williamson filed the lawsuit on behalf of

Larry W. Cook Estate\’s Appeal Granted in Negligence Lawsuit Brought Against Navy Federal Credit Union After $3.6 Million of Elderly Veteran\’s Savings Allegedly Sent to Scam Artists Read More »

Patelco Credit Union Honored with Mastercard’s 2024 “Doing Well by Doing Good” Award

Patelco Credit Union, a Bay Area-based credit union dedicated to the financial wellness of its team, members and communities, is proud to announce it has been recognized as one of Mastercard’s 2024 Segment Award winners in the “Doing Well by Doing Good” category. This prestigious award acknowledges Patelco’s outstanding use of resources to drive community

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DCUC Applauds Rep. Waters\’ Introduction of Key Legislation

Enhancing Credit Union Resilience and Expanding Community Access The Defense Credit Union Council (DCUC) is pleased to see the introduction of two critical pieces of credit union legislation introduced Thursday by House Financial Services Ranking Member Maxine Waters (D-CA). The Central Liquidity Facility (CLF) Enhancement Act (H.R. 10510) and Expanding Financial Access for Underserved Communities

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CFPB Sues JPMorgan Chase, Bank of America, and Wells Fargo for Allowing Fraud to Fester on Zelle

Americans have lost hundreds of millions of dollars to fraud tied to payment network’s shoddy safeguards Today, the Consumer Financial Protection Bureau (CFPB) sued the operator of Zelle and three of the nation’s largest banks for failing to protect consumers from widespread fraud on America’s most widely available peer-to-peer payment network. Early Warning Services, which

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Simplified CECL Tool Updated for December 2024

The National Credit Union Administration released the December 2024 update of its Simplified CECL Tool today. The update provides the latest life-of-loan—or Weighted Average Remaining Maturity—factors. For credit unions currently using the Simplified CECL Tool, the December 2024 release is provided to facilitate calculating the credit loss expense—or provision for credit losses—for the period that

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