Our credit unions spread the love this February. Between fundraisers, financial wellness tips, and staff appreciation, our credit unions showed how much they care. The League provides a snapshot of what some of our credit unions were up to during the month of February.

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It was an incredible week at the GAC in Washington, DC. Exciting speakers, legislative advocacy, and in-person networking were just some of the highlights. Fortunately, we have a few photos that capture a portion of the memorable activity.

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The Maine Credit Union Marketing Council will be hosting a virtual lunch and learn session on April 5, from 12:00–1:00 pm featuring Kristen Tatlock, Senior Compliance Manager at Aux. The session will cover marketing compliance and highlight the five biggest issues that credit union marketers face.

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Synergent is pleased to announce that Tyler Hudson has returned to the organization to serve as its Vice President of Software Delivery. As a member of Synergent’s Management Team, Hudson is responsible for overseeing the implementation of new credit union software, services, and third-party products. He also is charged with data management, translation, and optimization with core systems and integrated services.

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After a nationwide search, the board of directors of Maine State CU voted unanimously to appoint Maine native and current Executive Vice President Stephen Wallace as its new President and Chief Executive Officer. He will replace current President & CEO Tucker Cole, who is retiring on June 1, 2022.

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The Aroostook Chapter of Maine Credit Unions held their 10th annual Snowmobile Run on February 10. During the event, hosted by NorState FCU, 21 riders hit the Northern Maine trails to raise funds for Maine Credit Unions’ Campaign for Ending Hunger, Special Olympics Maine, and CULAC. A total of $4,200 was raised.

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The Worldwide Foundation for Credit Unions launched a new fundraising effort in support of Ukrainian credit unions impacted by the current military conflict in the Eastern European nation. The Ukrainian Credit Union Displacement Fund will help to mitigate both short- and long-term impacts to Ukraine’s credit union system and those who look to it for support, including both employees and members.

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Nancy Bard has been at the center of Great Falls Regional FCU for more than 60% of its history, and on Monday, she celebrated her last day at the credit union. After serving 40 years as its CEO, Bard retired from Great Falls Regional FCU.

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Earlier this week, Robert Caverly, League Vice President of Governmental Affairs, testified in opposition to LD 1945, An Act to Regulate the Use of Biometric Identifiers. This bill would require increased consent and security provisions around the use of biometrics, such as voice recognition and fingerprints. In addition, the bill would allow consumers whose biometrics were used by a company failing to follow the law to sue the company directly, even if they had not experienced any direct harm.

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Each year, millions of dollars go unclaimed by Maine residents. Unclaimed property includes money and other financial assets that are considered lost or abandoned by an owner after a specified amount of time has passed with no contact. In this edition of the Financial Literacy Blog, we explore different types of unclaimed property and offer some tips to help members maximize any unexpected income they could receive if they file a claim.

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The League is pleased to announce we are holding our annual Ending Hunger Convention Golf Tournament on Thursday, May 12, to coincide with Convention. We hope your credit union will join us as we tee off together at the beautiful Belgrade Lakes Golf Club in support of our signature social responsibility initiative.

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Topics in this week’s edition include:

• Call Report Modernization
• FinCEN Program Aids in Recovery of Over $1.1 Billion in Losses
• CFPB Acts to Protect Consumers with Government Benefit Accounts
• Interim Final Rule on Prompt Corrective Action Relief Renewed

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