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Articles by Jake Cooke
With CU Tax Exemption Challenged, Be Sure to Document Community Impact Work — Credit Union Connection
By Andy Howell, CEO, Uncommon Giving When President Donald Trump was sworn into office on Jan. 20, a significant shake-up in federal policy was expected. A House Ways and Means Committee memo circulated by Republican lawmakers provides a 50-page list of potential options for budget reconciliation. One of the proposals reads, “Credit unions are exempt from federal income taxes on their earnings.
American Heritage Credit Union is Now Accepting Applications for 2025 Cecilia B. Grady Scholarship Program — Credit Union Connection
American Heritage Credit Union (American Heritage) is awarding 30 graduating high school senior members with a $1,000 scholarship each to help ease the financial burden of higher education expenses.
Jack Henry and Moov to Implement Visa Direct to Enable Fast, Seamless Payments — Credit Union Connection
Alliance enables banks and credit unions to better serve the payment needs of consumers and small businesses Jack Henry™ (Nasdaq: JKHY) announced today its collaboration with Visa, the world leader in digital payments, to offer Visa Direct through Jack Henry Rapid Transfers™.
Texas Trust Donates $7,000 to DeSoto’s Cockrell Hill Elementary to Send Student Hunger Packing — Credit Union Connection
Desoto ISD’s Cockrell Hill Elementary Childhood Hunger Initiative Power Pack program (CHIPP) got a boost from Texas Trust Credit Union. Its donation of $7,000 will provide non-perishable food to keep students from going hungry over weekends and during school breaks. Through CHIPP, Cockrell Hill elementary provides “power pack” backpacks filled with nutritious food for 100 students each Friday to ensure they have something healthy to eat over the weekend until they return to school.
North County African American Women’s Association & North Island Credit Union Partner to Offer 2025 Student Scholarships — Credit Union Connection
North County African American Women’s Association (NCAAWA) and North Island Credit Union are partnering to offer scholarships and financial literacy programming to college-bound female students of African American descent in North County San Diego. Four $2,500 NCAAWA/North Island Credit Union scholarships are available to graduating high school seniors, current ROP, trade school, college and/or graduate students in Carlsbad, Escondido, Fallbrook, Oceanside, San Dieguito, San Marcos and Vista.
Credit Union Impact Foundation: A New Chapter in Driving Meaningful Change — Credit Union Connection
Beginning today, the Southeastern Credit Union Foundation, the charitable arm of The League of Credit Unions & Affiliates, is proud to announce a new chapter as the Credit Union Impact Foundation. This rebrand follows the recent consolidation with the Virginia Credit Union League, which has strengthened the Foundation’s reach across Alabama, Florida, Georgia, and Virginia. “I’m honored to share the meaningful impact this expanded reach will bring to the credit union community,” said Richard J.
Navy Federal Investment Services Named America’s Top Financial Advisory Firms 2025 – Celebrating 25 Years of Excellence — Credit Union Connection
Navy Federal Investment Services, a part of Navy Federal Financial Group, a subsidiary of Navy Federal Credit Union, has been recognized as one of America’s Top Financial Advisory Firms 2025 by Newsweek and Plant-A Insights Group. This prestigious acknowledgement not only highlights our commitment to help investors make informed confident financial decisions but also coincides with a significant milestone: the 25th anniversary of Navy Federal Financial Group.
Delta Community Extends $25,000 in Awards Through Annual College Scholarship Program — Credit Union Connection
Credit union's support of students pursuing higher education enters 20th year Delta Community Credit Union, Georgia's largest credit union, will begin accepting entries for its 20th Annual College Scholarship Program on Feb. 1. The credit union will select five deserving students, who will each receive a $5,000 scholarship to assist with college-related expenses. Scholarship recipients will be chosen based on their academic achievement, community involvement and a personal essay.
Mountain America Credit Union and BYU Athletics Team Up for $10,000 Donation to Local Charities — Credit Union Connection
Cougar Nation’s votes selected both Utah Crisis Food Response and Special Olympics Provo United to receive donations for vital community programs Mountain America Credit Union, in collaboration with BYU Athletics, recently presented donations totaling $10,000 to Utah Crisis Food Response (UCFR) and Special Olympics Provo United. The organizations were each presented with $5,000 checks during the January 14, 2025, Brigham Young University (BYU) men’s basketball game.
Unlocking Growth Through Inclusive Small Business Lending: A Strategic Imperative for Credit Unions — Credit Union Connection
Alex McLeod, CEO & Co-founder, Parlay Finance Jay Long, COO & Co-founder, Parlay Finance The small business lending market presents credit unions with a $1.4 trillion opportunity, yet this figure vastly understates the true potential. Traditional market analyses fail to capture the enormous untapped demand within underserved communities, where nearly 90% of entrepreneurs face persistent barriers to capital access.
CFPB Updates List of Consumer Reporting Companies — Credit Union Connection
2025 report tells consumers how to get a security freeze and block access to their credit reporting data Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies. The list identifies dozens of specialty reporting companies that collect and sell access to people’s data, including individuals’ finances, employment, check writing histories, or rental history records.
Call for Entries: LAFCU’s 2025 Write to Educate Essay Contest — Credit Union Connection
"The Write to Educate Essay Contest is an incredible opportunity for students to express their individuality and reflect on the unique experiences that have shaped them," said Kelli Ellsworth Etchison, LAFCU's chief marketing officer and chief diversity officer. "At LAFCU, we are deeply committed to fostering education because we believe it is the foundation for reaching one’s full potential and building a brighter future.
DCUC Calls on Senate to Address Credit Union Concerns During SBA Administrator Confirmation — Credit Union Connection
One Jan. 27, the Defense Credit Union Council (DCUC) sent a letter to the Senate Committee on Small Business and Entrepreneurship regarding the confirmation of The Honorable Kelly Loeffler as Administrator of the Small Business Administration (SBA).
Curql Fund II Makes History, Surpasses $200 Million in Investment Commitments—The Window to Join Is Still Open — Credit Union Connection
Curql Collective, the only strategic investment fund created by and for credit unions to collectively invest in fintech, celebrates a monumental achievement – Curql Fund II has secured over $200 million in investment commitments. Building on the record-breaking success of Curql’s first fund, which tallied $250 million, Fund II brings the total combined to over $450 million and continues to grow - but once the fundraise closes, it won’t open again for several years.
Royal Credit Union’s Annual Giving Never Melts Away Toy Drive Collects Over 750 Toys — Credit Union Connection
Royal Credit Union (Royal) and The Salvation Army partnered to hold the annual Giving Never Melts Away toy drive throughout the month of November. This year, Royal collected over 750 toys and raised $2,500 for The Salvation Army through the generosity of community members and team members. “We deeply appreciate everyone who supported this year’s Giving Never Melts Away initiative,” shared Heidi Cornelius, Community Engagement Coordinator.
DCUC Calls on Senate Committee Leaders to Address CFPB Overreach — Credit Union Connection
Today, the Defense Credit Union Council (DCUC) sent a letter to Senate Banking, Housing, and Urban Affairs Committee Chairman Sherrod Brown and Ranking Member Tim Scott, advocating for balanced oversight of the Consumer Financial Protection Bureau (CFPB).
Reliant Donates Sneakers for Children in Girls on the Run of Greater Rochester — Credit Union Connection
Reliant Credit Union continues its mission to help students in the Finger Lakes put their best feet forward! Reliant recently donated 86 pairs of sneakers to Girls on the Run of Greater Rochester. Girls on the Run is a nonprofit organization that empowers young girls through programs that combine running with life skills development. The program focuses on building confidence, promoting healthy lifestyles, and fostering emotional and social growth.
LAFCU Named One of the Best Credit Unions to Work For in 2024 — Credit Union Connection
LAFCU’s commitment to fostering an inclusive and supportive workplace is highlighted by initiatives such as its Employee Appreciation Day. On this special day in 2023, every employee, including those working remotely, received a personalized gift and a handwritten note from their manager expressing gratitude for their contributions.
Unitus Community Credit Union Partners with Quarterback Dillon Gabriel for Giving Tuesday — Credit Union Connection
Credit Union and Athlete Team Up to Support Local Youth Sports In celebration of “Giving Tuesday,” Unitus Community Credit Union and quarterback Dillon Gabriel have made a $2,500 donation to Kidsports of Eugene, Oregon. The non-profit organization is committed to offering all children the opportunity to play youth sports by removing barriers. The contribution follows a special Meet & Greet with Gabriel for Kidsports’ youth football players.
UMassFive Employees Raise Over $25,000 for Local Non-Profits — Credit Union Connection
UMassFive is proud to announce that its employees have raised over $25,000 for two local non-profits during the fall of 2024. $19,293 was raised in support of the UMass Cancer Center via participation in the UMass Cancer Walk and Run, and $5,992 was raised for the Food Bank of Western Massachusetts via participation in Will Bike 4 Food.
Centra Credit Union Receives Juntos Avanzamos Designation — Credit Union Connection
Centra Credit Union recently earned the prestigious Juntos Avanzamos designation, meaning “Together we advance,” from Inclusiv. This designation is awarded to credit unions who are committed to serving unbanked or underbanked Spanish-speaking consumers. “I’m incredibly proud of our organization for receiving this designation as it truly shows Centra’s commitment to serving the financial needs of the Hispanic/Latino community within our footprint,” Centra President and CEO Rick Silvers said.
National Credit Union Foundation Grant Helps Members First CU Focus on Financial Health Initiatives — Credit Union Connection
Members First Credit Union (M1) is pleased to announce it was awarded a grant from the National Credit Union Foundation (NCUF), furthering its commitment to improving financial well-being for its members and community. The NCUF, dedicated to its "Financial Well-being for All" mission, provides resources to credit unions, empowering them to offer targeted financial health solutions.
MEMBERS1st Community Credit Union Selects Member Access Processing (MAP) as its Card Service Provider — Credit Union Connection
Member Access Processing (MAP), a Credit Union Service Organization (CUSO), and the leading provider of the Visa DPS Debit, Credit, ATM, and Digital Payment Processing platform to credit unions nationwide, announced that MEMBERS1st Community Credit Union has selected MAP for their debit and credit card processing.
Pelican State Credit Union Pays Off $300,000 Worth of Debt for 39 Members — Credit Union Connection
Pelican State Credit Union provided immense financial relief to 39 members by paying a total of $300,000 worth of their personal debt. The Pelican Pays Debt Program is a deeper commitment to the promise that it pays to be a Pelican member. The program is one of the many ways the credit union is fulfilling its mission to make a difference in its communities by providing accessible financial solutions for individuals and families in underserved markets.
Sunward to Finalize Acquisition of New Mexico Based Business from Mountain America Credit Union After Positive Vote — Credit Union Connection
Acquisition will close in the first quarter of 2025, expanding Sunward’s New Mexico footprint while giving new members access to new services and additional locations. Sunward, formerly known as Sandia Laboratory Federal Credit Union, and Mountain America Credit Union announced today that after a favorable vote by transitioning Mountain America Credit Union members, the previously announced proposed acquisition is proceeding with a targeted completion in the first quarter of 2025.
Riverfront Federal Credit Union Announces Its New Digital Banking Solution from Lumin Digital — Credit Union Connection
Riverfront Federal Credit Union, based in Wyomissing, PA, today announced it has selected leading cloud-native digital banking provider, Lumin Digital (Lumin), as its new digital banking solution. As the banking landscape continues to become digitally driven, Riverfront places the needs of its members above all else, remaining competitive in its member offerings as the industry advances with new technologies.
First Credit Union Launches BNPL to Members, First in Arizona — Credit Union Connection
Eligible members can now get more funds to pay for purchases over time First Credit Union, a credit union with over $750 million in assets and serving over 44,500 members across Arizona, announced that it has added Buy Now, Pay Later (BNPL) to its suite of online banking products.
Teachers Federal Credit Union Announces Ben Alessi as Chief Financial Officer — Credit Union Connection
Teachers Federal Credit Union, one of the largest credit unions in the United States with over $9.8 billion in assets and more than 460,000 members nationwide, is proud to announce the promotion of Ben Alessi to the role of Chief Financial Officer (CFO). Alessi has over 24 years of experience in the financial services industry, 18 of which have been dedicated to Teachers.
North Island Credit Union Foundation Provides $5,000 in Teacher Grants To Benefit Educators & Students — Credit Union Connection
Conducting a geometry-based city planning project, creating a lending library, expanding a school garden and starting a school community mosaic project are just some of the school projects receiving funding from North Island Credit Union Foundation through its Fall 2024 Teacher Grant program.
California Credit Union Foundation Provides $5,000 in Teacher GrantsTo Benefit Educators & Students — Credit Union Connection
Starting an after-school computer science club, conducting plastic decomposition experiments, creating comic books and developing art therapy projects are just some of the school projects receiving funding from California Credit Union Foundation through its Fall 2024 Teacher Grant program.
RCU Foundation Announces $400,000 Gift to UW-Eau Claire Foundation — Credit Union Connection
The RCU Foundation made a $400,000 gift to the UW-Eau Claire Foundation to support the development of Simpson Field. This contribution will help fund the renovation of the field, which will now feature bleachers and a press box. “This gift played a significant role in making Phase II of the Simpson Field project a reality,” said Julia Diggins, Vice President and Chief Development Officer of the UW-Eau Claire Foundation.
Aggieland Credit Union Finances $53,000in Texas A&M Student-run Entrepreneurial Ventures — Credit Union Connection
Aggieland Credit Union funded $53,000 in short-term business loans for 12 student teams participating in the 2024 Texas A&M Mays Business School Integrated Business Experience (IBE). Now in its ninth year, this is the first time IBE enterprises were able to use the intellectual property of Texas A&M University, including the logo, school emblem, mascot, slogans, buildings, landmarks, and more in their product design.
PenAir’s Snack Stock Collection Helps Area Cancer Center Comfort Patients — Credit Union Connection
PenAir Credit Union (PenAir) team members delivered over 3,600 snack items on Wednesday, November 13, to Ascension Sacred Heart Cancer Center in Pensacola, successfully wrapping up PenAir's second annual Snack Stock initiative. These donations, collected throughout the month of October, will provide comfort and nourishment to cancer patients and their families during treatment and appointments.
Bancography Updates Bancography Plan With Added Functionality — Credit Union Connection
Bancography, a financial services consulting firm, today announced new features and functionality have been added to Bancography Plan, a market analysis and branch planning software that empowers bankers to forecast profitability and evaluate the performance of new and existing branches. This version includes the latest competitive data from the FDIC and NCUA, as of June 2024.
Leading Credit Unions Fund ModernFi CUSO to Drive Deposit Growth via the First Credit Union Deposit Network — Credit Union Connection
Strategic credit union partners ABNB, Ascend, Corporate One, Georgia's Own, ICCU, IH Mississippi Valley, Royal, SAFE, Service, and Suncoast join ModernFi CUSO to accelerate the growth of foundational deposit infrastructure for the credit union ecosystem.
SchoolsFirst Federal Credit Union Sponsors Organizations & Events — Credit Union Connection
SchoolsFirst Federal Credit Union, the largest credit union in California and the largest serving school employees and their families, recently sponsored the Teachers of the Year and Classified School Employees of the Year recognition event hosted by Sacramento Republic FC and the Sacramento County Office of Education (SCOE), held on Oct. 26, 2024. The special celebration took place at Heart Health Park during the Sacramento Republic FC match against the Colorado Springs Switchbacks.
Metro Credit Union Debuts New Business Checking Account with Features to Make Banking More Accessible for Business Owners — Credit Union Connection
Metro Credit Union, the largest state-chartered credit union in Massachusetts, today announced the launch of its new Metro Business Checking account. Designed with business owner needs in mind, the checking account is available at Essential and Premium tiers.
Six Credit Unions Partner with myCUmortgage for Comprehensive Home Loan Services — Credit Union Connection
New partnerships represent over 139,000 credit union members and $2.52 billion in assets As part of its ongoing efforts to help more credit union members with homeownership, myCUmortgage is excited to announce six new partnerships. myCUmortgage is a Credit Union Service Organization (CUSO) and wholly owned by Wright-Patt Credit Union. myCUmortgage's new partnerships in Q3 of 2024 include: AdelFi Credit Union – Brea, Calif.
CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets — Credit Union Connection
Lenders less likely to encourage Black entrepreneurs and more often steer them toward alternative financing Today, the Consumer Financial Protection Bureau (CFPB) released a study revealing significant disparities in how lenders treat Black and white small business owners seeking loans.
Great Lakes Credit Union and Chicago Municipal Employees Credit Union Jointly Announce Intent to Merge — Credit Union Connection
Great Lakes Credit Union(GLCU) and Chicago Municipal Employees Credit Union(CMECU) are excited to announce their plans to merge pending regulatory approval and a CMECU membership vote. GLCU intends to preserve the legacy of CMECU by operating it as a division within GLCU. The credit unions are targeting a close of December 31st as a legal effective date for the merger, subject to member approval. The boards of GLCU and CMECU have voted in favor of the merger.
Jetstream Federal Credit Union Supports FCAA 40th Anniversary Gala — Credit Union Connection
Jetstream Federal Credit Union proudly served as a Silver Sponsor for the Family Christian Association of America (FCAA) 40th Anniversary Gala, celebrating "40 Years of Changing Lives." The event was held on Saturday, November 9th, 2024, at the Miami Lakes Hotel in Miami Lakes, FL. The FCAA, a non-profit organization committed to empowering families and communities through Christian principles, has been a vital resource for the local Miami-Dade community for the past four decades.
Keesler Federal and Jefferson Financial Federal Credit Unions announce plans for a merger — Credit Union Connection
Merger Called a “Win-Win” for Members Keesler Federal Credit Union and Jefferson Financial Federal Credit Union Boards of Directors on Wednesday announced plans for the largest credit union merger in Louisiana and Mississippi history, resulting in enhanced services for members of both credit unions and a more robust footprint stretching across the Gulf Coast. Jefferson Financial Federal will be merged into Keesler Federal Credit Union.
Scienaptic and Kentucky’s Credit Unions Partner to Bring AI to Credit Unions — Credit Union Connection
Scienaptic AI, a leader in AI-powered credit underwriting, today announced a strategic partnership with the Kentucky’s Credit Unions (KCU) to bring advanced AI-driven underwriting technology to credit unions across Kentucky, enhancing their capacity to deliver smarter, more inclusive lending. Since its founding in 1934, the Kentucky’s Credit Unions has served as an advocate and resource hub, advancing the cooperative principles of credit unions throughout the state.
SchoolsFirst Federal Credit Union Recognizes Los Angeles County Teachers and Classified Employees of the Year — Credit Union Connection
Melissa Ellis, CTE/Intro to Health Careers, Bellflower High School, Bellflower Unified School District Alanna Grimaldi, Sixth-Grade Science, Luther Burbank Middle School, Burbank Unified School District May DeGuzman, AP English Literature & Composition, Leuzinger High School, Centinela Valley Union High School District Kirsten Neill, Fifth Grade, Old River Elementary School, Downey Unified School District Hannah Rodriguez, Preschool Special Education, Beardslee Dual Language Immersion...
Centra Credit Union Donates $120,000 to Non-Profits — Credit Union Connection
Centra Credit Union has announced grants to 48 non-profits within the Communities it serves, totaling $120,000. Centra Team Members were asked to nominate the non-profits they feel passionate about supporting, and one non-profit was selected for each team within Centra. “One of the things I love about Centra is the passion that all of its Team Members have when it comes to giving back to their community,” Centra Director of Community Involvement Jenni Carr said.
Robins Financial Credit Union partners with Houston County Habitat for Humanity to Build Homes for Local Families — Credit Union Connection
Robins Financial Credit Union shows its commitment to the community through volunteering with Houston County Habitat for Humanity to bring the dream of homeownership to two local families. Houston County Habitat for Humanity, a trusted non-profit organization, has long been devoted to addressing the need for affordable housing.
OceanAir Federal Credit Union Selects Member Access Processing (MAP) as its Card Service Provider — Credit Union Connection
Member Access Processing (MAP), a Credit Union Service Organization (CUSO), and the leading provider of the Visa DPS Debit, Credit, ATM, and Digital Payment Processing platform to credit unions nationwide, announced that OceanAir Federal Credit Union has selected MAP for their debit and credit card processing.
Kids-N-Hope Foundation Raises Over $11,500 During its Winter Bingo Event — Credit Union Connection
Fundraising Efforts Support Local Pediatric Health and Life Services The Kids-N-Hope Foundation (“The Foundation”) raised over $11,500 during this month’s Purse and Power Tool Bingo event. 170 attendees enjoyed a night of bingo, raffles, and time with friends and family all while supporting the Foundation’s mission to fund music therapy programs and other child life services.
CFPB Report Details Carveouts for Financial Institutions in State Data Privacy Laws — Credit Union Connection
Gaps in consumer protections pose risks as companies increasingly build business models to make money from personal financial data The Consumer Financial Protection Bureau (CFPB) today released a report examining federal and state-level privacy protections for consumers’ financial data. The report notes that protections under federal regulations for financial data have limits.
Teeing Up for Tomorrow: TruMark Financial Cares Foundation’s Golf Classic Raises Over $58,000 for Financial Education Resources and Economic Empowerment - Credit Union Connection
On October 21, 2024, TruMark Financial Cares Foundation’s 9th Annual Golf Classic brought together 115 golfers at the Talamore Country Club in Ambler, PA, for a day of golf, camaraderie, and philanthropy.
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