Also: NAFCU pushes for extended relief as lawmakers review COVID-19 response; Berger talks leadership on new podcast

NAFCU Today
The News You Need Daily
 

December 1, 2020

NAFCU Board today meets with Fed's Bowman, CFPB's Kraninger
The NAFCU Board of Directors today is set to meet with Federal Reserve Board Governor Michelle Bowman, who has experience working with community financial institutions and met with NAFCU last year, and CFPB Director Kathy Kraninger to advocate directly on issues affecting the credit union industry.

NAFCU urges relief extensions, modifications ahead of Senate Banking Committee hearing
Ahead of today's Senate Banking Committee hearing to examine the administration's pandemic response programs, NAFCU Vice President of Legislative Affairs Brad Thaler urged Congress to consider the extension of several CARES Act relief measures as credit unions work to serve their members during the pandemic. Treasury Secretary Steven Mnuchin and Federal Reserve Board Chairman Jerome Powell are set to testify before the committee.

Berger emphasizes communication, taking care of people on leadership podcast
Is servant leadership the best form of leadership for today's nonprofits? NAFCU President and CEO Dan Berger recently joined the Nonprofit Leadership Podcast to discuss his approach to leadership, challenges posed by the pandemic, and more – including why servant leadership is the right way to go regardless of sector or nonprofit status.


NAFCU's Virtual Strategic Growth Conference
Attend NAFCU's Virtual Strategic Growth Conference to gain forward thinking strategies to help your CU thrive, not just survive.

Learn More

Join NAFCU leaders for 2021 expectations
As 2020 comes to an end, NAFCU President and CEO Dan Berger and other leaders will provide member credit unions with a look ahead to the new year – including what the industry can expect from a Biden administration and how the association is positioned to help the industry thrive – during a Dec. 15 webinar.

NAFCU shares support of SBA increases to size standards
In response to the Small Business Administration's (SBA) notice of proposed rulemaking to increase the size standards for North American Industry Classification System (NAICS) sectors related to finance and insurance, NAFCU shared its support of the agency's "thoughtful approach to reviewing and updating the size standards, as necessary."

FOMC minutes suggest increase in asset purchases to come
According to NAFCU's Curt Long, minutes from the Federal Open Market Committee's (FOMC) November videoconference meeting suggest the committee is "positioning itself for an increase in asset purchases in December" to help sustain smooth market functioning. Members of the committee judged that immediate adjustments to the pace and composition of asset purchases were not necessary; however, circumstances could shift to warrant such adjustments.

NAFCU's Management and Leadership Institute kicks off with leadership, communications essentials
Today, NAFCU's Virtual Management and Leadership Institute kicks off with a workshop on the essential steps for becoming an extraordinary leader and an interactive session on how to establish trust and creditability in communications and be a more effective communicator.  

Q3 GDP remains unchanged, continues 'record-breaking' recovery
According to the Commerce Department's second estimate for third quarter economic growth, the U.S. economy rebounded 33.1 percent, remaining unchanged from the initial estimate. NAFCU Chief Economist and Vice President of Research Curt Long highlighted that while the dip from earlier this year was the most severe in history, the "recovery thereafter was also similarly record-breaking."

Despite decline in October, new-home sales remain strong
New-home sales declined slightly in October – from September's upwardly revised rate of 1,002,000 annualized units to 999,000 units during the month – but were up 41.5 percent from a year ago. Despite the slight 0.3 percent decline, NAFCU's Curt Long noted "the last several months have been strong overall."

NCUA issues 2 prohibition notices in November
The NCUA in November issued two prohibition notices, prohibiting individuals previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution.


BSA School is now available on demand
Boost your credit union BSA knowledge and earn your certification. View the agenda now.

The #1 Thing Your Members Care About
Join us for this webinar with Securian as they discuss key findings from a recent survey of CU members, the financial priorities of your members, and how debt protection programs can be a flexible fit for everyone.

 
 NAFCU CALENDAR
DEC
1-4
Virtual Management and Leadership Institute
#NAFCUInstitute
DEC
4
Give Your Members the Gift of Fraud Protection for the Holidays
Complimentary Webinar
DEC
8
Training on the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act of 2008
Webinar
DEC
9
Comments Due to NAFCU: NCUA - Derivatives
Important Regulatory Date
DEC
9-10
Virtual CFO Summit
#CFOSummit

 
 

 

 

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