ICUL News & Events: Apply to Crash the GAC!

Apply to Crash the GAC!

2022 CUNA GAC Logo
Crash the GAC is back again and The Cooperative Trust is gearing up for 2022! The Cooperative TrustCUNA, and all state leagues are joining forces to have at least one Crasher from each state attend the Governmental Affairs Conference (GAC) in Washington D.C. on February 26-March 3.

Crashers are credit union young professionals (40 & under, or “40 at heart”) who are selected to attend the conference as well as additional sessions for young professionals. The entire experience is career-changing!

CUNA will cover the cost of conference registration for all Crashers. Travel, lodging, and food expenses are the responsibility of the Crasher and their credit union. ICUL would like to reimburse $1,000 of these costs to a Crasher from Iowa. The deadline to apply is December 3 - apply now!


ICUF Small Credit Union Grant Applications Due November 19 

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The Iowa Credit Union Foundation (ICUF) is currently accepting applications for the Small Credit Union Grant program, made possible thanks to Veridian Credit Union. 

Credit unions at or under $50 million in assets may apply for grants to assist in new technology investments, strategic planning and consultation services, or paid ICUL or CUNA events. 

The application deadline for these grants is next Friday, November 19. Learn more here.


Affinity Credit Union First in State to Reduce, Eliminate Fees

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Affinity Credit Union has announced fee reductions and eliminations for ATM and debit card overdrafts. In a statement, Affinity President/CEO Jim Dean said, “We’ve all struggled with finances at some point. When money is tight, we want our members to be able to put gas in their car and buy groceries without having to worry about excessive fees. At its core, this is a decision that was made in the best interest of our members and community, not our bottom line.” Read more about the change in this CU Times article

Congratulations to Affinity Credit Union for this fantastic example of providing financial services with the "people helping people" philosophy in mind. 


NCB CEO Chuck Snyder Passes Away

Chuck Headshot

Charles E. Snyder (Chuck), President and CEO of National Cooperative Bank (NCB), passed away unexpectedly last week.
 

Chuck’s lasting impact on the bank, cooperatives, and all who worked with him will be remembered. Service and memorial information has not yet been released. Read the full release from NCB here.


Filene Seeking Credit Union Survey Responses for Data Analytics

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Filene is launching a system-wide research project to baseline and benchmark credit unions’ data analytics and business intelligence capabilities.

This research will identify critical drivers of readiness to help credit unions and system partners make sound investments in the people, processes, and technologies of data analytics.

Take a ten-minute survey to gain access to Filene's technology research and resources and receive a customized index of where your credit union fits within the big picture of data analytics across the industry once the research is complete.


ICUL to Launch New Website in Coming Months

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In the coming months, ICUL will be transitioning to a new website. With this change, Iowa credit unions will benefit from an improved website experience and streamlined resource library. Iowa credit union league members will be able to access a member directory, educational events calendar and legislative materials as they relate to credit union advocacy.

Be on the lookout for this exciting new credit union resource!


Join Callahan & Associates' Impact Network

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Credit unions are an invaluable asset to their members and communities. The goal of Callahan’s impact initiative is to empower credit unions to better articulate their value through a mission-focused lens with the help of new metrics and best practices. Learn more here


Legal Tip: Accounts with Payable on Death Designation

 
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Deposit accounts and certificates of deposit with a P.O.D. designation pass directly to the named beneficiaries upon the primary account holder’s death, and are helpful to keep assets out of probate.  A credit union allowing a P.O.D. designation on accounts does not step into a fiduciary role or subject itself to liability related to management of the funds. During the primary account holder’s life, a P.O.D. beneficiary: 

  • Cannot access the account and should not be given account information; and
  • Can be changed at any time by the account owner, without the previously named beneficiary’s consent. 

If more than one beneficiary is named, each surviving beneficiary should receive a pro rata share of the proceeds unless the account specifies otherwise.  Once assets are paid, proceeds are still subject to taxes and creditor claims owed by primary account holder prior to death.   

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


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