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UCU To Match Ending Hunger Donations Through December 31
For the fourth consecutive year, University Credit Union (UCU) is matching donations to help end hunger in Maine. Donations made online or in-person at any UCU location between November 15 and December 31 will be matched and donated, up to a total of $25,000 in 2021.
CUNA Mutual Group Releases November Trends Report
The November 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 September.
InfoSight eNewsletter
Topics in this week’s edition include:
- FinCEN Issues Proposed Rule for Beneficial Ownership Reporting to Counter Illicit Finance and Increase Transparency
- FFIEC BSA/AML Exam Manual Updated
- DOJ Issues Initiative to Combat Money Mule Scams
- CFPB Issues LIBOR Transition Rule
- Regulation Z Thresholds for 2022
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.
League Debuts Maine Credit Unions' Elementary Curriculum
Providing financial education to Mainers of all ages and from all backgrounds is an important priority for both the League and Maine’s credit unions. To make credit union outreach even more impactful, the League is pleased to launch a new curriculum program to teach younger Mainers about the importance of money management.
Cost Conscious Consumers Moving to Digital Auto Refinancing
In this article, Amy Nelsestuen, Senior Manager of Product Strategy at CUNA Mutual Group, examines how consumers are increasingly turning to digital for their auto refinancing needs.
Don't Forget to Cast Your Vote in the CUNA Board Special Election
As you may know, CUNA is holding a special election to fill vacancies on its Board of Directors. The special election began on November 12 and voting will close on December 16. Jason Lindstrom, President/CEO of Evergreen Credit Union, is running for the District 1, Class A position. This seat represents credit unions having less than 38,000 members in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Puerto Rico, and the U.S. Virgin Islands.
CU Webinar Network Offers Complimentary Webinar on FedNow
Maine credit unions can take advantage of a unique educational offering provided by the Credit Union Webinar Network by participating in a complimentary webinar about FedNow, the new instant payment service from the Federal Reserve Bank. The session, facilitated by Kevin Olsen, the “Payments Professor,” is available on-demand, which lets you watch it at a time and location that’s convenient for your credit union.
Credit Unions See Continued Share and Deposit Growth in Third Quarter
According to the latest financial performance data released by the National Credit Union Administration, federally insured credit unions saw shares and deposits increase by $219.9 billion, or 14.4 percent, to $1.75 trillion over the year ending in the third quarter of 2021. Regular shares increased $95.8 billion, or 17.6 percent, to $640.0 billion. Total assets in federally insured credit unions rose by $231 billion, or 12.9 percent, to $2.02 trillion in the third quarter of 2021.
How to Save at the Gas Pump
Credit unions work hard to help their members when their financial situations change. Given the rising costs for fuel, the latest Financial Literacy Blog offers some timely tips that your credit union can share with your members to help them save money at the gas pump this holiday season.
Atlantic FCU Awards $2,500 College Scholarship to Sanford Student
Atlantic FCU congratulates Dawson Knapp of Sanford for being selected as the 2021 Atlantic/Amable & Vivian Caron $2,500 College Scholarship recipient. Currently attending the University of Maine, Dawson was selected from numerous entries to receive the award after submitting his application and writing a short essay about personal achievement.
It's Time to Join or Renew Your Membership to the Maine CU Marketing Council
With 2022 only a few weeks away, its time to renew your membership to the Maine Credit Union Marketing Council for next year. If you weren’t a member of the Council in 2021, now is a great time to join to experience the many benefits that the Council provides. The Council offers credit union marketing professionals an opportunity to collaborate, share best practices, and learn new skills that can help them promote their credit union’s products and services to a wide variety of audiences.
CLYNK to Help End Hunger
We are always looking for ways to support the Campaign for Ending Hunger! Earlier this year, the Campaign partnered with CLYNK to Give to expand our fundraising efforts and put our redeemable bottles and cans to work for our signature social responsibility initiative. If your credit union is looking for a new way to recycle your beverage containers, consider using CLYNK if you aren’t already taking advantage of this simple service with big benefits!