The League provides a brief update regarding the NCUA’s recent letter to federally insured credit unions that outlines their supervisory priorities for examinations in 2023. In addition, credit unions are encouraged to save the date for a virtual town hall meeting with Joanne Black, Supervisory Examiner with the NCUA, and Lloyd LaFountain, Superintendent at the Maine Bureau of Financial Institutions, on February 21.

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The deadline to complete and submit the voluntary Credit Union Diversity Self-Assessment is quickly approaching. Please submit your credit union’s self-assessment to the NCUA by January 31, 2023.

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Steve Rick, Chief Economist for CUNA Mutual Group, offers his outlook on the 2023 U.S. economy and its impact on credit unions. Rick forecasts the economy will make a steady comeback in 2023, with overall positive predictions across all fronts. The biggest concern for credit unions is a liquidity shortage.

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Topics in this week’s InfoSight newsletter include:

• CFPB Releases Updates to Mortgage Servicing Exam Procedures
• CFPB Issues Guidance on Root Unwanted Subscription Tactics
• FCC Announces Compliance Date for Amended TCPA Rules
• Reminder—Annual Threshold Updates Are Up

InfoSight is FREE to League CU employees as a benefit to membership and provides state and federal compliance and operations resources. Click here to request an account login.

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The start of the new year is an incredibly busy time, especially for credit union marketers. Fortunately, there’s still an opportunity for your credit union to join the Maine Credit Union Marketing Council. Sign up today to ensure your marketing and PR teams receive the unique benefits the Council has to offer throughout the year.

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As a financial institution invested in its communities and neighbors, Acadia FCU is pleased to announce it will award $6,000 in scholarships to area high school seniors. Qualifying members from the class of 2023 must apply by April 17, 2023.

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OTIS FCU has announced its 2022 Employee of the Year. Please join the credit union and the League in extending our congratulations to Bobbi Jo Fletcher.

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Northeast CU recently announced two new hires. Ken Lawrence joins the credit union as its Senior Vice President, Chief Information Officer and Dan Raposa is the new Vice President, Executive Director of the Northeast CU Foundation.

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Protecting your credit union and your members from fraud is one of Synergent’s highest priorities. As part of our efforts and when appropriate, we work closely with law enforcement officers to aid in active investigations involving fraud. We are pleased to share an update concerning a card skimming scheme that took place in 2019.

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The League briefly recaps its first two Legislative Meet & Greets, held last week in Augusta and Lewiston, and offers an exciting opportunity for credit unions to spend a day job shadowing their elected officials at the State House.

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In a letter shared with credit unions this week, the NCUA outlined its supervisory priorities and other updates to the agency’s examination program for 2023. The NCUA’s focus will be on the areas posing the highest risk to credit union members, the credit union industry, and the National Credit Union Share Insurance Fund.

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The dollars are in and the funds are counted. Which credit union raised the most in 2022 for Maine Credit Unions’ Campaign for Ending Hunger? How much did credit unions collectively raise last year to support this critical effort? Find out the answers to these questions next month by joining the League at our Ending Hunger Celebration Luncheon.

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