Headline News

LCUL Wants to Hear From YOU: Help us Gather Critical Information, Member Stories
As your state trade association, it was our top priority to first and foremost see that credit unions had what they needed to continue operations without interruption in the wake of COVID-19. Now that a few weeks have passed, we want to collect information on how your credit union has responded/is responding. 

LCUL sent a survey to CEOs and executive management teams. Additionally, we are asking that if anyone has a specific member story they are willing to share, please submit it to communications@lcul.com. These stories will most likely come from your employees assisting members so get their input as well. We will be collecting these stories for both local and national purposes.

Please have surveys completed and stories submitted by Friday, April 24.

Why is this information important to report? Collecting this data will allow us to show legislators and community leaders the extent to which credit unions are supporting their members. Survey responses will be a sustainable source of data that will provide us with fuel for public awareness, advocacy, and related outreach efforts.

Senate Passes $484 Billion Relief Bill with Funds for PPP, Carve-Out for Smaller FIs
The Senate has approved an approximately $484 billion relief package that includes another $310 billion for the Paycheck Protection Program (PPP), with $60 billion of the funds set aside for community lenders, for which both CUNA and LCUL had been advocating.

It goes to the House next, however, the only way to pass legislation is through voice vote or unanimous consent, requiring an agreement from all lawmakers. Both chambers will not reconvene in person until May 4 at the earliest.

That $60-billion is to be divided with $30 billion for loans made by insured depository institutions with between $10 billion and $50 billion in assets, and $30 billion for loans made by institutions with assets of less than $10 billion.

For more information, please contact our Advocacy department.

Temporary Regulatory Relief in Response to the COVID-19 Pandemic
NCUA Board held its third open meeting of 2020 today using a live audio webcast and approved three items: NCUA
 
  • A temporary final rule granting measures of regulatory relief to help ensure that federally insured credit unions remain operational and liquid during the COVID-19 pandemic.
  • An interim final rule that temporarily defers real estate-related appraisals and evaluations under the agency's appraisal regulations because the public health crisis and social distancing directives have created difficulties for lenders to obtain required appraisals on a timely basis.
  • A final rule that increases the threshold level below which appraisals would not be required for residential real estate-related transactions from $250,000 to $400,000.
Click here to read more, including a brief description of each item.
Professional Development

LCUL Now Offering Virtual Dues Supported Training for Members