A handful of Maine credit unions currently offer marijuana-related business (MRB) accounts to their members. Recently, those credit unions have reported changes in the way regulators are expecting MRB accounts to be handled. Those changes are likely to cause some disturbances within the MRB community. The League recently took the proactive step of sending a letter to legislative leaders, the Mills’ administration, and Maine’s congressional delegation to explain the situation.

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Topics in this week’s edition include:

• New Topic Added to “Tax Issues” on InfoSight Channel
• Credit Unions Encouraged to Implement Measures to Protect Against Possible Threats
• Register Now for NCUA’s Call Report Changes Webinar
• CFPB Initiative to Save Americans Billions in Junk Fees
• NCUA Proposes Rule on Succession Planning
• CFPB Posts Lists of Rural and Underserved Counties

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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Business Lending Solutions, LLC, (BLS) announces the addition of Josh Sanders as the new Senior Credit and Operations Officer. A highly respected lending professional with over 20 years in the industry, Sanders brings extensive underwriting and portfolio management experience to the BLS team.

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In honor of Identity Theft Awareness Week, the Financial Literacy Blog offers some helpful tips that credit unions can share with their members to help them better protect their identity. With more scammers trying to steal people’s information, members need to take proactive measures to safeguard themselves from this type of fraud.

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Winter in Maine can be challenging, but for some families, staying warm can be very difficult due to their financial situations. To help their community, the team at Dirigo FCU stepped up last month to lend a hand. The credit union paid the Trinity Jubilee Day Shelter’s heating bill in January. Dirigo FCU also coordinated a winter coat and blanket drive—donating nearly 50 items to the Salvation Army Church and raising $300 for the Campaign for Ending Hunger.

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Acadia FCU has announced it will award a $2,000 scholarship to three local high school seniors who are planning to attend college. The three $2,000 awards will help the selected high school graduates offset the cost of their college education.

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Throughout 2021, Downeast CU celebrated 80 years in business with a fun initiative that was designed to give back to its membership and the communities it serves. The “80 Ways We Wow Ya” campaign included special savings for members looking for reliable transportation, community giving, food pantry contributions, and acts of kindness for hometown heroes.

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At the start of the new year, Oxford FCU welcomed Joann Bisson to the role of Executive Vice President. The new position was created as part of a succession plan to prepare the organization for the upcoming retirement of Matt Kaubris, the credit union’s President/CEO.

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The Maine Credit Union Marketing Council will be hosting a virtual lunch and learn session on Wednesday, March 9, from 12:00–1:00 pm featuring Communications Consultant Lorraine Ranalli. The Marketing Council offers credit union professionals a unique opportunity to collaborate, share best practices, and learn new skills that can help them promote their credit union’s unique products and services.

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This week, the League welcomed representatives from the NCUA and the Bureau of Financial Institutions for a Town Hall with credit unions. During the meeting, the regulators outlined their supervisory priorities for 2022.

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Credit unions in Maine who don’t already know CUNA Mutual Group’s Charlyn Delano now have an opportunity to connect with her. She recently stepped into the role of Account Executive, taking over for CUNA Mutual Group’s Jeff Pierce, who retired at the end of 2021.

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April is National Credit Union Youth Month, the time each year credit unions help teach and encourage kids to develop strong financial habits. This year’s theme is “Save Small. Dream Big. at your credit union^TM.”

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