ICUL News & Events: Congress Considering Increased Credit Union Reporting Requirements

Take Action: Congress Considering Increased Credit Union Reporting Requirements

Federal Capitol Building
Congress is currently considering a proposal that would expand IRS reporting requirements for credit unions and other financial institutions. With this proposal, credit unions would be required to report additional account activity for all accounts over $600.

In addition to creating significant new compliance and financial burdens for credit unions, this proposal would challenge credit unions working to build trusting relationships with unbanked Iowans.

Please take action and share your concerns with your Representative here.


2021 Iowa Credit Union Convention Recap

Award winner Crystal Pluth

The 2021 Iowa Credit Union Convention was another event like never before - our first hybrid convention! Thank you to the nearly 500 attendees who traveled to join us in Dubuque, and to the 125 people who joined us virtually from around the state. 

During this year's convention, four industry leaders were recognized through the Iowa Credit Union Awards:

  • Crystal Pluth, Cooperative Spirit Professional (pictured with ICUL President & CEO Murray Williams)

  • Pam Moeller, Cooperative Spirit Volunteer

  • Helen Pearce, Heritage Award

  • Tom Blanford, Young Professional


All convention registrants have access to recorded sessions through the convention app and virtual platform until October 15. Having trouble accessing the app or platform? Email support@iowacreditunions.com.

Be sure to mark your calendar for next year's convention - August 28-30, 2022 in Des Moines.


ICUL Welcomes Caitlyn Frohmader as New Education Events Manager

Caitlyn Frohmader Headshot
ICUL is excited to welcome Caitlyn Frohmader to the team as the new Education Events Manager.

Caitlyn started her credit union journey in 2006, working for a small credit union serving South Central Wisconsin. After a brief internship with CUNA Mutual Group, she worked for the Credit Union National Association (CUNA), where she was responsible for marketing and promoting the trade association's signature events.

Caitlyn is a Credit Union Development Educator (CUDE) and considers herself to be a credit union lifer and advocate who embodies the principles and philosophy of "People Helping People".


In her new role, Caitlyn facilitates credit union growth and vitality by managing, promoting, and advancing educational events that support and deliver an exceptional member experience for Iowa credit unions. Please help us welcome Caitlyn.


Registration Open for Upcoming Events: Lending School and Essential Teller Issues Training

Sold House Illustration
Registration links have been opened for Lending School and Essential Teller Issues Training. Both events will be offered in a hybrid format, where registrants have the option to attend in-person at the ICUL office in West Des Moines, or attend virtually.

Lending School will be held October 6-7. This course will teach the fundamentals of good consumer lending. Click here to learn more and register.

Essential Teller Issues Training will be held on October 13, and will share six modules highlighting the importance of a teller's job. Click here to learn more and register.

Small credit union discounts are available for both events and scholarships are available for lending school through the Iowa Credit Union Foundation. Email info@iowacreditunionfoundation.org for scholarship information.


Attorney's Conference for Non-Attorneys Webinar Access Available

Attorney's Conference for Non-Attorneys logo
ICUL has collaborated with other midwest credit union leagues to host the Attorney's Conference for Non-Attorneys. These webinars can provide credit unions with legal information and risk mitigation strategies.
 

Access to these webinars is provided to ICUL members as a complimentary member benefit. Questions? Email support@iowacreditunions.com.


Legal Tip: Post-Signing Contract Considerations

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Your credit union just spent months negotiating a vendor contract. Now that it’s executed, don’t just stick it in your desk drawer! Contracts are not just legal documents; they are business documents and roadmaps of business relationships. Consider the following:

  • Store the contract in a safe place accessible to those who manage the relationship
  • Regularly review the contract to make sure you perform your obligations
  • Monitor Service Level Agreement (SLAs) reports and payments/credits vendor may owe – give timely notice of non-compliance with SLAs
  • Perform regular due diligence on your vendor
  • Track when the contract will terminate and/or auto-renewal notification deadlines
  • Update or amend as the relationship or product/service evolve

Questions? Contact Barker, Hodgson & Miller, P.C. attorneys Elizabeth Hodgson or Julie Buenzow.


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