Maine Credit Union League Weekly Update

Volume 30  •  Issue 15  •  April 16, 2021

People of All Ages Need to Learn Financial Literacy
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A letter to the editor written by League President/CEO Todd Mason appeared in the digital edition of the Portland Press Herald on April 12. The letter encourages readers to remain mindful of financial literacy throughout National Financial Literacy Month and beyond.

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Maine CUs’ Virtual Financial Fitness Fair Is Hitting the Mark with Students and Teachers
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Just in time for National CU Youth Month and National Financial Literacy Month, Maine Credit Unions debuted a new Virtual Financial Fitness Fair. Since launching in early April, a number of students have already participated in the experience. Everyone who participates is asked to provide feedback and the testimonials received so far have been overwhelmingly positive.

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Town & Country FCU’s Annual Tournament Raises Funds for the Maine Children’s Cancer Program
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The C-U Swish-Out Childhood Cancer Challenge, presented by Town & Country FCU, is happening this year but with a twist as a result of the pandemic. Taking place over a four-week period, the annual event will be a virtual 3-on-3, co-ed, free throw competition.

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League and Synergent Receive CUNA Diamond Awards
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CUNA’s Marketing and Business Development Council honored credit unions and leagues for their outstanding marketing achievements with virtual celebrations to recognize the winners of its annual Diamond Awards. The League took home six awards, including four Category’s Best distinctions. Synergent also received an award for its successful campaign with Endurance FCU. This effort earned a Category’s Best designation for Membership Marketing.

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Celebrating Certified Teller Graduates
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The League would like to recognize several credit union employees who recently graduated from the Certified Teller program. This comprehensive program provides in-depth training in teller operations, financial terminology, lending basics, compliance, and credit union history and principles.

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Saint James School Dresses Casual for a Cause: Ending Hunger
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Students at Saint James School in Biddeford traded in their school uniforms for casual attire last Friday in support of Maine Credit Unions’ Campaign for Ending Hunger. As part of this special fundraiser, the school raised $342 for the Campaign.

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InfoSight eNewsletter
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Topics in this week’s edition include:

  • Agencies Issue Statement and Request for Information on Bank Secrecy Act/Anti-Money Laundering Compliance
  • Freddie and Fannie to Limit Loan Eligibility to New QM Rule
  • NWCUA Releases Economic, Community Impact Report
  • CFPB and Settleit, Inc. Propose Settlement Order
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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The League’s E-Titling Bill Receives Committee Approval
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The Legislature’s Transportation Committee provided their initial approval of the League’s bill, LD 645, Resolve, To Create an Electronic Titling Work Group, sponsored by Representative Bruce White (D-Waterville). The bill aims to create a working group of interested parties to help the state craft, develop, and implement an electronic vehicle titling system.

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CUNA Mutual Group Releases Spring 2021 Report and Announces Awards
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CUNA Mutual Group has released its Spring 2021 Report for credit unions. This timely report can be shared at chapter and credit union meetings. In addition, CUNA Mutual Group announced it has received industry honors for social equity and inclusion.

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Weekly Update - A Publication For The Maine Credit Union League
Maine Credit Union League | P.O. Box 1236 | Portland, Maine 04104 | www.mainecul.org