TILA/RESPA Rule Changes
TruStage™ Health Insurance Program Broadens Credit Union Value
Start Preparing Today
Now is the time to prepare for the upcoming TILA/RESPA changes.
- Identify who is in charge
- What are your compliance resources
- How are your various departments affected
- How can your third-party partners help you
The compliance deadline is just around the corner, so it’s best if you start having these discussions today.
The Consumer Financial Protection Bureau combined disclosure rule, The Dodd-Frank Act, made changes to the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA). These changes directly affect the people, processes and technology that you use to support your lending operations.
The TILA/RESPA Integrated Disclosure Rule is the largest mortgage lending regulatory compliance change seen by credit unions in recent times. Specifically, the rule will impact credit unions’ relationships with their system, document, service providers, and their members and credit union staff. This new rule becomes effective on August 1, 2015.
Read the full story.
Data Breaches Still a Growing Risk in the Credit Union Industry
Make It Easy for Members to Access the Right Health Plan
Credit unions can add value by making it easy for members to access the right health plan to help them protect their financial security. Participating credit unions are actively engaged in building member awareness to support open enrollment, which runs from November 15, 2014, through February 15, 2015.
If you haven’t already signed up, you can now by calling your CUNA Mutual Sales Executive, or logon to learn more
The TruStage Health Insurance Program is made available through TruStage Insurance Agency, LLC and GoHealth LLC. GoHealth LLC is licensed to sell nationwide and operates in all states with the exception of Massachusetts, Hawaii, Vermont and Rhode Island. CUNA Mutual Group Proprietary and confidential. *Note: The TruStage™ Health Program is available to all credit unions, except in the states of Alabama, Hawaii, Massachusetts, Rhode Island, Vermont, and West Virginia due to regulations or carrier availability.
Discovery Conference Leads CU Industry in Online Learning
Evolving Technology and Changing Regulations Challenge Credit Union Preparation
Explosion of mobile devices and technology advances have significantly increased this risk, especially in financial services industries. In 2013, cyber incidents totaled more than 61,000, and more than 800 of these were with financial services organizations.
With recent high profile data breaches, organizations are experiencing an entirely new risk level of data theft and security. At this year’s Discovery Conference, CUNA Mutual Group’s Jay Morgan and Beazley Group’s Katherine Keefe discussed how these major data breaches offer a wake-up call for credit unions.
“Most organizations don’t have the internal resources to stay up to date. Therefore, align yourselves with resources to help you avail yourself from these increasing risks,” says Keefe. Learn what you can do to help reduce cyber exposure.
Read the full story.
CUNA Mutual Group Invests $25 Million to Wealth Management Business
It’s Not Too Late to Register and Listen to the Recording
If you registered for our 5th annual DiscoveryTM Conference held in October, you can access the conference materials any time before June 30, 2015. View or revisit all of the credit union-focused sessions, download conference materials, visit the expo center, and network with hundreds of peers by exchanging virtual business cards—for up to nine months at no cost to you.
Didn’t register? No problem. You can register now
CUNA Mutual Group’s 5th Annual DiscoveryTM Conference brought a full day of online, free learning to more than more than 2,100 registered credit union professionals on October 15. Attendees from credit unions, leagues, associations and CUSOs, received a full day of virtual learning on topics that will help them remain relevant to members, manage compliance risk, and drive overall growth.
Enhancing Broker-Dealer Technology, Training, and Marketing to Better Serve Credit Unions
To help credit unions boost fee income and help members achieve financial security, we have launched a multi-year, multi-million-dollar investment in our broker-dealer, CUNA Brokerage Services, Inc. (CBSI). We’re committing more than $25 million to CBSI for technology, staffing, training, and other resources.
“Credit unions have told us one of their top needs is generating non-interest income, especially during times of tight margins,” says Robert N. Trunzo, president and chief executive officer of CUNA Mutual Group. “Our $25 million investment in CBSI is one of the ways we are addressing those needs. We will better position CBSI to help credit unions enhance their investment services and deepen member relationships.”
"CUNA Mutual Group understands our vision and what we're trying to accomplish," says David Young, executive vice president at Commonwealth Credit Union in Frankfort, Kentucky. "The company cares about our credit union in the same way we care about our members. It's the same type of partnership."
Read the full story.
Select CU Council in the Community
Firm values drive growth for CUNA Mutual Group and credit unions alike. As community service is a cornerstone of credit union culture, the natural extension of this value translates to CUNA Mutual Group’s support of credit unions and the communities they serve. Working together, we bring the spirit of generosity to the communities in which we work and live.
Fight Hunger with the "Nice" Bucket Challenge
Education First Credit Union, Ogden, Utah
Stay dry and help feed others. Take the "nice" bucket challenge to help fight hunger. Join credit unions nationwide who are challenging their members to donate a bucket of food to their local food pantries.
The Carolinas Roundtable
On August 20 in Charlotte, North Carolina, the Carolina Credit Union League once again hosted a free roundtable for CEOs from North and South Carolina credit unions. The morning session included several speakers who discussed compliance updates, investing, improving loan growth, and improving your bottom line with coverage. The afternoon session was reserved for CEOs to privately discuss issues and solicit feedback and advice.
This one-day, quarterly event was established so small to mid-size credit unions can leverage best practices, participate in peer-to-peer discussions, and network with other credit union executives.
To learn more, please contact Lucile at email@example.com.
All information and materials are intended for the Select CU Council and its Members only.