ICUL News & Events: 2021 Iowa Legislative Session Ends

2021 Iowa Legislative Session Ends
Iowa Capitol Building
The 2021 Iowa legislative session ended late in the evening on May 19. Thank you to all who advocated for credit union initiatives this session!
 
  • The legislature passed House File 302, addressing the child care cliff effect;
  • The legislature increased funding to the State Housing Trust Fund from $3 million annually to $7 million annually;
  • Prize linked savings did not become law, but the bill did pass out of committee in the House and progress continues;
  • We maintained a strong state credit union charter, defeating bank association attempts to prohibit credit unions from acquiring banks as well as legislation from the Iowa Banking Division that would have assessed large fines against banks and their directors if they sold to a credit union.

Questions about the legislative session or advocacy? Contact PolicyWorks Iowa CEO Justin Hupfer or Director of Government Affairs Gracie Brandsgard.


CUNA Mutual Group and MGIC Investment Corporation Host Credit Union Mortgage Lending Webinars
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Credit union leaders and staff are invited to participate in a quarterly series of credit union-exclusive webinars designed to cover current mortgage lending practices to better prepare credit unions to help members achieve their dreams of home-ownership:
 


Click here to learn more and register.


Join Inclusiv for CDFI Certification Webinar Series
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You are invited to join Inclusiv for an upcoming two-part webinar series on CDFI Certification. If your credit union has been approved for CDFI certification or if you are considering application, Inclusiv will be sharing next steps after approval and basic information about the application process.

Learn more about these upcoming webinars here.

CUNA National Awards Program Submission Process Closes June 30
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CUNA's National Award programs are designed to encourage and recognize distinguished credit unions which demonstrate social responsibility (the Dora Maxwell Award), the credit union philosophy (the Louise Herring Award), and financial education (the Desjardins Awards).

The deadline to submit applications for these awards is June 30. Click here to learn more.

Barker, Hodgson & Miller, P.C. Legal Tip: Conservator Overrides a Financial Power of Attorney
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In a Financial Power of Attorney, a member grants a friend or family member access to accounts and authority to make financial transactions on the member’s behalf (most commonly, this authorization becomes effective if the member becomes incapacitated).

If the member is subject to a Conservatorship, however, the court may give such authority to a different individual. The authority granted by the court to a Conservator trumps the authority a member may have granted his or her Agent under a Financial Power of Attorney, in which case a credit union should:

  • Review and retain a copy of the court’s order appointing the Conservator, and the Letters of Appointment. Document the member’s account(s) so the Conservator can act as authorized; and  
  • Discontinue any access or authority to the incapacitated member’s accounts by anyone attempting to act under a Financial Power of Attorney. 
ICUL member credit unions have access to legal resources through Barker, Hodgson & Miller, P.C. Click here to learn more about the legal resources available, including account authority guidance. Questions? Contact Elizabeth Hodgson at Elizabeth.Hodgson@amcattorneys.com or Julie Buenzow at Julie.Buenzow@amcattorneys.com.

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