The Northeast CU Scholarship Program has officially started accepting applications for 2022. The credit union offers five unique scholarships, with 23 award opportunities totaling $40,000 to recognize student members for their commitment to academics, extracurricular activities, and community.

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TruChoice FCU’s TruHero credit card program continues to benefit southern Maine’s medical community. Since 2009, the credit union has donated $24,293 to the McAuley Residence and $62,657 to Children’s Miracle Network. TruChoice FCU’s 2021 donation of $11,166 to the Children’s Miracle Network was its largest annual donation to date.

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The December 2021 CU Trends Report is now available. This monthly report, published and distributed by CUNA Mutual Group’s Director and Chief Economist Steven Rick, provides a review and analysis of recent credit union financial performance and operational results. It includes data from October.

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CUToday.info examines a new Filene report which analyzes credit union overdraft protection programs. The Filene report urges credit unions to understand which members frequently overdraft, when they are likely to do so, and why it is happening. It also calls on credit unions to experiment with member friendly reforms to overdraft protection programs.

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Topics in this week’s edition include:

• Update on COVID Vaccinations and Testing ETS
• CFPB Alert on Discrimination Involving Religion
• NCUA Supervisory Priorities
• CFPB Bulletin on Unlawful Medical Debt Collection and Reporting
• FDIC and FinCEN Announce Digital ID Proofing Tech Sprint

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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With a surge in Omicron-related COVID cases, more and more people are seeking at-home COVID rapid tests. At-home tests have become a popular option, however, the costs of these tests can add up. The Financial Literacy Blog provides an overview of some changes the federal government has made to address this issue.

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It can be challenging for credit unions to keep on top of constantly evolving regulatory compliance requirements. To help, the League is hosting a Town Hall on January 24 at 1:00 pm featuring Joanne Black, Supervisory Examiner with NCUA and Lloyd LaFountain, Superintendent at the Maine Bureau of Financial Institutions. During this virtual discussion, Black and LaFountain will provide an overview of federal and state regulatory priorities.

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Every year, NorState FCU donates the fees it collects from its coin sorter machines in Presque Isle, Fort Kent, and Madawaska to a charity. To help local food pantries with their ongoing response to the pandemic, NorState FCU is donating its 2021 fees to assist with their efforts. A total of $5,569.97 will be distributed to hunger relief organizations in Aroostook County.

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In a letter to federally insured credit unions, the National Credit Union Administration outlined the agency’s examination program for 2022. Given the ongoing uncertainty associated with the COVID-19 pandemic, the NCUA will continue to conduct examination and supervision activities primarily offsite.

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The Atlantic FCU Foundation is proud to announce it has awarded ProsperityME a $10,000 grant to help promote, teach, and enhance financial skills and literacy. ProsperityME provides critical financial education to refugees, immigrants, and asylees to help them build a better future in Maine and achieve financial security.

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In 2019, Governor Mills and the Legislature took a bold step to address hunger in Maine. They enacted important legislation to bring state agencies, nonprofit and business leaders, educators, and other interested parties together to develop a strategic plan to end hunger in the state by 2030. On Tuesday, League President/CEO Todd Mason and other members of the 2030 Advisory Group virtually testified before the Legislature’s Agriculture, Conservation and Forestry Committee about their recommendations.

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The Supreme Court has stopped the Biden administration from enforcing a requirement that employees at large businesses be vaccinated against COVID-19 or undergo weekly testing and wear a mask on the job. At the same time, the court is allowing the administration to proceed with a vaccine mandate for most health care workers in the U.S.

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