1. Don’t Tax My CU Update – North Carolina credit union representatives were on Capitol Hill September 10-11 as part of the League-sponsored Hike the Hill trip. There were indications from lawmakers that two issues of interest to credit unions, tax reform and housing finance reform, could receive consideration before year-end. While the consensus was that wholesale tax reform is unlikely, many members of Congress noted that they did expect to see detailed tax reform proposals introduced in the House and Senate in the coming months. Thus far, nearly 25,000 contacts have been made with members of Congress from NC as part of the Don’t Tax My CU campaign– great work!
2. League Consolidation Update – As you may already know, credit unions in North & South Carolina voted overwhelmingly to approve the proposed consolidation of the state’s two Leagues. The consolidation will result in several benefits for credit unions in both states, including the combined talents of League staff in both states, more robust offerings and assistance for smaller credit unions, and enhanced peer and networking opportunities for credit unions of all sizes. We are very excited about the potential of the Carolinas Credit Union League! We’ll be providing more information on the consolidation in the weeks ahead. Please let us know if you have any questions in the meantime.
3. Training Summit on Financial Exploitation Prevention, Detection and Reporting – As you may know, the NC General Assembly passed an Elder Fraud bill that was signed into law by Gov. McCrory over the summer. Effective December 1 of this year, all financial institutions will have to report financial exploitation of seniors 65 years of age and older and disabled adults 18 years of age and older. The League is sponsoring an all-day training summit in Raleigh on October 16th from 9:30 to 4:00 to help credit unions with prevention, detection and reporting of financial exploitation. Credit union employees who handle compliance, operations and front-line staff training are encouraged to attend. During the October 16th event, you will hear best practices for implementation and reporting and also learn from case studies where financial institutions have provided assistance in prosecution of elder scams. For more information or to register, you can find the event on the Professional Development calendar.