CUNA's Nussle on data security, NCUA's risk-based capital proposal03/19/2015Jim Nussle hits on some of the biggest issues facing credit unions today in an interview with SNL Financial including regulatory relief, mergers, cybersecurity and RBC2.
10 things you should know about credit unions03/17/2015Mike Schenk, vice
president of economics and statistics at Credit Union National Association,
highlights some must know facts about credit unions including where to find one
(www.aSmarterChoice.org) and how
loan rates are lower than at other financial institutions.
Credit Unions Help Build More 'Wonderful' Financial Lives03/16/2015Nationally, the average credit union member saves $74 a year, according to the Credit Union National Association. But would that number remain the same if regulatory changes wiped credit unions off the map? NerdWallet takes a look.
Senior Bank Accounts: Should You Get One?03/16/2015When comparing standard vs.
senior accounts, it’s important to keep in mind that “senior checking account
needs aren't significantly different from other consumers’,” says Susan
Tiffany, director of personal finance information at Credit Union National
Association. Read more for the the pro’s and con’s for senior accounts.
Working together to improve cybersecurity03/11/2015Amias Gerety, U.S. Treasury acting
Assistant Secretary for Financial Institutions, spoke at CUNA's GAC and wrote
about his speech on the U.S. Treasury's blog. He wrote that "By
collaboratively sharing information about malicious cyber activity, affected
parties can help to ensure that that incidents impacting one organization do
not also affect another."
CUNA's Nussle says 'advocacy is job one'03/10/2015New Credit Union National
Association President and CEO Jim Nussle challenged members to view advocacy as
their No. 1 priority. He said that for credit unions to sing with one voice,
they must all be on the same page. He added that every voice must contribute,
but the voices must blend in order for the new Congress to "hear our
song." "Advocacy is job one," Nussle said. "The most
important job I can do is to remove the barriers between you and your credit
CUNA to Hike the Hill03/10/2015Nearly 5,000 credit union members
will "Hike the Hill" this week to speak to lawmakers and their staffs
while they're in town for the Credit Union National Association's Government
Affairs Conference. Members will meet with legislators and their staffs on
their legislative priorities, which include regulatory relief and stopping data
Regulatory relief: This year's key GAC message03/08/2015In advance of GAC, Jim wrote,
"Credit unions are focused on being America's best financial partner by
creating awareness, fostering service excellence and removing barriers. As CUNA
and the credit union system continues to grow and strengthen, so will our message
to Congress and American consumers."
Q&A with credit union boosters Jim Nussle and Mark Cummins02/27/2015Jim Nussle, president and CEO of the
Credit Union National Association and Mark Cummins, president and CEO of the
St. Paul-based Minnesota Credit Union Network, discuss cybersecurity breaches,
legislative priorities and what's driving credit unions' growth.
How to shave several years off of your decades-long mortgage02/25/2015If you're looking to shave off some years on
your mortgage, CUNA's Susan Tiffany advises adjusting mortgage payments from
once a month to half-payments every two weeks. That's 26 payments total and 13
payments a year instead of 12, which takes up to two-and-a-half years off a
30-year mortgage. She also discusses several other ways to pay down your debt,
including your mortgage.
Congress can stop Main Street financial institutions from disappearing02/24/2015CUNA wants to work with the Congress
to remove regulatory barriers. If these barriers are removed, the impact that
credit unions have on the financial lives of their members will be that much
more significant and the economic contribution credit unions and their members
make will be that much greater.
Most people don't know what a credit union is: Nussle02/20/2015CUNA President & CEO, Jim
Nussle, explained the credit union mission and structure difference on
"Bloomberg Surveillance." Nussle discussed why credit unions should
maintain their tax exemption status, most notably, for serving underserved
Stop regulatory creep on credit unions02/13/2015CUNA's Jim Nussle wrote, "We
want to work with the Congress to remove regulatory barriers. If these barriers
are removed, the impact that credit unions have on the financial lives of their
members will be that much more significant and the economic contribution credit
unions and their members make will be that much greater."
Lawmakers take aim at credit union requirement02/10/2015CUNA is backing legislation
introduced in the Senate by Sens. Jerry Moran (R-Kan.) and Heidi Heitkamp
(D-N.D.) that would reduce how often credit unions must send privacy notices to
customers. "The fact is that an annual privacy notice requirement is
unnecessary, costly and confusing to our members," CUNA President and CEO
Jim Nussle said.
Credit unions report significant 2014 growth02/06/2015In addition to seeing their
membership numbers cross the 100 million mark, U.S. credit unions reported
another major milestone in 2014: their fastest annual membership growth rate in
Fed: December credit card balances up 7.9 percent02/06/2015"About 1 million jobs have been
created in the past three months and that's the fastest three-month gain since
1997," said CUNA's Mike Schenk on the January employment numbers.
Additionally, Schenk discussed consumer behavior to accompany economic growth,
stating, "Consumer confidence has been rising and rising at pretty healthy
rates over the last couple months, but I think we are just getting to the point
where people are comfortable with the idea that this growth is sustainable and
will probably have positive effects on their lives."
Credit unions experience fast growth on all fronts in 201402/06/2015The Credit Union National
Association's estimates show that credit union membership expanded by 3.6%—the
highest calendar year growth in membership since the 3.7% increase in 1994.
US gains strong 257K jobs, pay jumps; jobless rate 5.7 pct.02/06/2015"The labor market was about the
last thing to recover from the Great Recession, and in the last six months it
has picked up steam," said Bill Hampel, chief economist at the Credit
Union National Association." The benefits for the middle class are now
CFPB Accepting Comments on Rural Proposal; Accounting Clarification for Ginnie Servicers; 6% Capital Ratio for Non-Banks?02/02/2015CUNA stated that the Federal Home
Loan Bank proposal by the FHFA could require credit unions to alter business
practices by creating major compliance responsibilities and could result in
higher cost mortgages. These cited challenges that credit unions may face have
already impacted the lending industry, as lenders try to comply with the new
rules and regulations enforced by the CFPB. In this evolving market, there will
be new regulations and requirements, no matter how inconvenient and
unreasonable they may be, that industry stakeholders will have to abide by.
CFPB offers changes to mortgage rules for smaller lenders01/29/2015The Consumer Financial Protection
Bureau proposed several changes to its mortgage rules aimed at providing more
leeway for smaller financial institutions to make loans. CUNA's Jim Nussle weighed
in on the proposal saying, "more work still needs to be done, but this is
an important step in the right direction."