Maine Credit Union League Weekly Update

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.

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.

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.

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.

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.

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.

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

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.

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.