The Question of Board Compensation
Once unheard of, board compensation is becoming a more common practice. But often, the pay is not in line with the amount of work being done, and the methods fall outside the cooperative guidelines. Emily Claus examines the going rate for board members and the justifications credit unions use for these amounts.
CFPB Declared Constitutional By 2nd Circuit Court of Appeals Ahead of Supreme Court Review
Following the 5th Circuit Court’s ruling declaring the CFPB’s structure and funding unconstitutional and the Supreme Court’s agreement to review the case, the 2nd Circuit Court has now ruled the organization to be constitutional, reports Emily Claus.
Monthly Board Meetings: Necessary or Burdensome?
As legislation aims to reduce required board meetings from monthly to six times per year, Emily Claus discusses the potential benefits and ramifications of such a change, with input from two long-serving board members.
Supreme Court Agrees to Review Ruling Declaring CFPB Structure Unconstitutional
In light of the Supreme Court’s decision to review the ruling declaring the Consumer Financial Protection Bureau unconstitutional, Emily Claus reports on the history of the CFPB and its controversial structure, funding, and Payday Rule.
House Passes Credit Union Board Modernization Bill
The House has passed the CUNA-supported Credit Union Board Modernization Act, which would alter the current board meeting requirements from monthly meetings to a minimum of six meetings per year. Emily Claus reports.
Connecting Personally and Authentically With Members
Credit unions are meant to have a genuine care for their members and communities, but too often, that whittles down to nothing more than a marketing tactic. Emily Claus discusses how to balance the need for growth and digital methods with building a personal connection.
Tyndall Federal Credit Union’s Giveback Campaign Reinvents Profit Sharing
The methods behind profit sharing can be a bit of a mystery for members, who typically have no clue as to why they receive the amounts they do. Tyndall FCU decided to remove the mystery and show members exactly how they can earn, resulting in more money going directly into members’ hands.
House Report into PPP Loan Fraud Points the Blame at FinTechs
In December, the House released the findings of their investigation into PPP fraud and found that FinTechs were guilty of failing to protect against fraudulent loans and even sometimes knowingly pushing said loans through in turn for a profit. Emily Claus reports.
Credit Unions Celebrate the Holiday Season with Support for Their Communities
Helping their members and their communities is at the very heart of what credit unions do, and the holiday season is the perfect time to demonstrate that commitment. Emily Claus details a few of the many ways credit unions are spreading holiday cheer and how your credit union can get involved.
NCUA Establishes Asset Management and Assistance Center as Independent Office
On December 1st, 2022, the NCUA voted to re-establish the Asset Management and Assistance Center as an independent entity. Emily Claus reports on the reasons and logistics behind the change.
