The Maine Legislature and Congress have been very active on matters that could impact credit unions. To help your credit union learn more about the League’s advocacy efforts, we encourage you to attend our upcoming Town Hall on Monday, March 21 at 1:00 pm.

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Topics in this week’s edition include:

• CAMELS Information
• CFPB: New Effort Focused on Financial Issues Facing Rural Communities
• Executive Order on Development of Digital Assets
• Russian State-Sponsored Cyber Actors Access Network Misconfiguration with Default MFA Protocols
• Homeowner Assistance Fund

InfoSight is FREE to League CU employees as a benefit to membership and provides state and federal compliance and operations resources. Information on InfoSight, including overviews of state regulations, are reviewed annually by compliance professionals across the country, including the League’s own Compliance team. Request your login today.

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The League recently participated in an American Association of Credit Union Leagues (AACUL) survey measuring the breadth and depth of support Leagues have provided to credit unions in 2021. In addition to our participation, the 34 other Leagues/State Associations took part as well, representing all 50 states and the District of Columbia.

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After 31 years of dedicated service carrying out the credit union People Helping People mission, Dan Byron, CEO at Eastmill FCU is retiring. His last day at the credit union is March 18. The League joins Dan’s members, staff, supervisory committee, and board of directors in wishing him many happy years of retirement!

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House and Senate appropriators have reached agreement on an FY22 government funding package that would provide a $25 million boost for the Community Development Financial Institution program and make it easier for credit unions to expel members.

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Federally insured credit unions experienced continued growth in assets and loans during 2021, an increase in return on average assets, and a decline in total delinquency rate, according to the latest Quarterly U.S. Map Review released Tuesday by the National Credit Union Administration.

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On Tuesday, Monmouth FCU members voted to merge with Great Falls Regional FCU. Both credit unions have been staples in their respective communities since the early 1950s. The merger will combine Great Falls Regional FCU’s 3,300 members with Monmouth FCU’s 2,200 members and result in an organization with combined assets of approximately $60 million.

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Time is almost up to nominate a credit union leader you know for an award as part of the League’s annual awards program. Don’t miss your chance to review the award categories and enter someone you know who is making a difference in Maine’s credit union movement.

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Having engaged, involved, and active committees is an important part of the strong and vibrant collaboration that makes Maine’s credit union network strong. During the League’s Convention in May, the Young Professionals Network (YPN) will have the chance to attend a Q&A session with League Committee Chairs to learn more about what they do and how YPs can get involved.

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During a celebration on March 11 in Los Angeles, California, several Maine credit unions, the League, and Synergent were recognized with a CUNA Marketing & Business Development Council Diamond Award.

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With the world becoming increasingly digital, online accounts have been a prime target of scammers and fraudsters attempting to steal people’s personal information. The Financial Literacy Blog explains how two-factor authentication can be a strong line of defense against this type of fraud.

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CUNA News profiles Maine’s own Community CU and showcases the credit union’s financial wellness offerings.

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