Newsletter

Board Nominations Close: Incumbents Reappointed to ICUL Board

The 2023 nomination period for a position on the ICUL Board of Directors has ended. Four open positions were uncontested and all incumbents in the open positions submitted nominations. No additional nominations were received in any of these categories. Therefore, there will be no election this year. The nominations received in their respective categories were: 

• $0-$63 million asset category: Cindy Stephenson, Iowa Heartland Credit Union 
• $63-$312 million asset category: Jordan Hensley, Peoples Credit Union 
• $312 & over asset category: Greg Hanshaw, Community 1st Credit Union 
• At-Large category: Jami Weems, Serve Credit Union 

Cindy Stephenson, Jordan Hensley, Greg Hanshaw and Jami Weems will be officially inducted at ICUL’s Annual Meeting this fall during the 2023 Iowa Credit Union Convention. Please join us in congratulating them on being 2023-24 Iowa Credit Union League Board Members for another term!

DuTrac Community Credit Union Wins National Youth Saving Challenge for National Credit Union Youth Month

This year the Credit Union National Association created a National Youth Saving Challenge for credit unions to encourage kids to save wisely through their credit union's giveaways, content, financial education and events in honor of National Credit Union Youth Month in April.

Congratulations to DuTrac Community Credit Union, based in Dubuque, Iowa, as being a winner of this challenge. The credit union opened 23 new accounts and had 7,837 deposits totaling $1.7 million for the month! 

"New Insights on ITIN Lending as a Driver for Growth" Report Available

Filene Research Institute has created a new report, "New Insights on ITIN Lending as a Driver for Growth" that highlights the current state of ITIN lending program implementation in the credit union system – being one of the first reports to provide data and testimonials to the impact these lending programs have for internal growth and community development.

Thanks to TruStage, Coopera, Inclusiv, and ViClarity, all credit unions are able to download the report to learn more about implementing ITIN lending programs.

First Community Trust, N.A. CEO John Gonner Announces Plans to Retire

First Community Trust, N.A. (FCT), an Affiliates Management Company, has announced the retirement of its Chief Executive Officer, John Gonner. FCT will start a leadership transition process over the next few months. John’s decision to phase into retirement will bring to a close a remarkable career of 22 years of service to FCT.

“I would like to take this opportunity to express my sincere gratitude to John for his exemplary service, unwavering dedication and countless contributions to First Community Trust,” said Murray Williams, ICUL President, CEO and FCT Board Chairman. “John has played an integral role in shaping FCT into the strong and vibrant company it is today, and we will be forever grateful for his invaluable contributions.”

John is committed to seeing FCT through the successful hiring and transition to a new CEO. He has agreed to step back into his former Chief Investment Officer (CIO) role, which he held for 18 years, so there is ample time for the new CEO and John to thoughtfully plan for his eventual replacement.  

2023 Iowa Cooperative Spirit Award Nominations Open

At the Iowa Credit Union Convention in September, the Iowa Credit Union Awards will be announced in front of our Iowa credit union industry. Nominations are open for the professional and volunteer categories of the Cooperative Spirit Awards. These awards highlight credit union staff and board members who show outstanding service and commitment to our Iowa credit union community. Nominate someone for these awards today!

Pictured is 2022 Cooperative Spirit Professional Award Winner Marian Holmes of Community 1st Credit Union.

Legal Tip: NCUA Requires 72 Hour Cyber Incident Reporting

The NCUA recently approved a final rule amending 12 CFR Part 748, effective September 1, 2023, to require federally chartered and federally insured credit unions to notify NCUA of a “reportable cyber incident” as soon as possible and no later than 72 hours the credit union reasonably believes the incident occurred. Credit unions affected should review the final rule and any additional guidance from the NCUA and adjust their incident response plans and security policies.

Questions? Contact Barker, Hodgson & Miller, P.C. attorneys Elizabeth Hodgson or Julie Buenzow. 

ICUL member credit unions have access to a variety of legal services and resources made available through ICUL's strategic partnership with Barker, Hodgson & Miller, P.C. Find more information here.

Industry News & Events

Industry News

Have news to share? Email [email protected]. You must be logged onto the members-only website in order to view submitted content.

• ICUF Announces Graduates of 2023 Financial Coach Program
• DuTrac Youth Save $1.7 Million, Win National Youth Saving Challenge™
• First Community Trust, N.A. Hiring Chief Executive Officer
• Effective 6/1/2023, Janet Borer has retired from her position as CEO of MEMBERS1st Community Credit Union

Upcoming ICUL Events

• June 7 - ViClarity Q2 Townhall Meeting
• June 15 - A Comprehensive Credit Union Board Orientation Process
• June 22 - Managing Third-Party Risk with an Efficient Vendor Management Process
• June 27 - CUPAC Fundraising through GAP
• August 15 - Exploring Why™ Workshop (Part Two)
• September 13-15 - Iowa Credit Union Convention
• October 12 - Human Resources Roundtable
• October 17-18 - Collections & Bankruptcy Update

View the full ICUL event calendar here.