Keeping Members Where They Are: Outdated Fields of Membership
As digital services and banking experiences become the new norm, traditional field of membership designations have become outdated and restrictive, hurting both credit unions and members alike, argues Emily Claus.
As the NCUA Calls for Comments on Climate Change, Credit Unions and Agencies Push Back
As the NCUA calls for comments on climate change and conducts research into how it may effect federally-insured credit unions, a few agencies and credit union executives are pushing back, arguing the NCUA is ignoring bigger priorities, reports Emily Claus.
House Financial Services Committee Drafts Legislation to Increase Credit Union and Bank Oversight Following Bank Failures
Following the collapse of three major banks, the House Financial Services Committee has announced legislation which would require financial regulators such as the NCUA to provide semi-annual reports, detailing credit unions that underperformed on examinations, reports Emily Claus.
Financial Literacy Spotlight: Phroogal Founder Jason Vitug and the CU Happy Tour
When Jason Vitug resigned as CEO of his credit union, he wasn’t sure what was next, until a bolt of inspiration hit. Now, Vitug works alongside the credit union industry to bring financial literacy and wellness to credit union employees, members, and communities alike. Emily Claus sat down with Vitug to discuss his journey and his upcoming CU Happy Tour–a 50-state, 100-credit-union collaboration effort to make financial literacy a national conversation.
House Financial Services Committee to Consider CFPB Reform Legislation Ahead of Supreme Court Review
Continuing the never-ending debate on the Consumer Financial Protection Bureau, the House Financial Services Committee has announced that it will consider new legislation that would completely overhaul the organization’s structure ahead of the Supreme Court’s review of the case, reports Emily Claus.
Credit Union Ownership Education and Assuming the Obvious
In an effort to educate their members on all things financial wellness, credit unions are often in danger of skipping over how they can educate their members as owners. Emily Claus discusses the importance of ownership education and how credit unions can teach “the obvious.”
April Heralds in Financial Literacy Month
April marks the start of Financial Literacy Month, where credit unions, schools, and financial institutions alike work to improve financial education across the country. Emily Claus details the history of the event, how credit unions are celebrating this year, and how you can get in on all the festitivites!
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.
