All 11 branches of the Grand Blanc, Mich.-based Dort Federal Credit Union participated in CU Lunch Local where each branch bought lunch for team members. The annual program is designed to help credit unions boost traffic at local businesses by committing to buying lunch at those restaurants.
Over 1,700 pounds of food were donated to a local ministry thanks to a food drive contest hosted by KEMBA Financial Credit Union in Gahanna, Ohio.
1st Advantage Credit Union in Yorktown, Va., hosted its 12th annual 1st Assistance, Inspiration, Dedication and Experience Day which is dedicated to reinvesting in the community.
Hanscom AFB, Mass.-based Hanscom Federal Credit Union donated $1,000 to a local youth education and leadership organization.
Sound Credit Union held its second annual afternoon of service where 350 employees of the Tacoma, Wash.-based credit union volunteered at 21 different non-profits.
School supply drive
The school supply drive that Tucson, Ariz.-based Hughes Federal Credit Union participated in was a success. Everything from notebooks and pencils to sensory tools for patients on the autism spectrum were donated to Banner Children's Hospital School.
CU Kind Day was launched by the Illinois Credit Union League. Over 2,400 credit union volunteers from 60 Illinois CUs joined together to help contribute to their communities.
For the second year in a row, the Sacrament Business Journal named Folsom, Calif.-based SAFE Credit Union as one of the Best Places to Work in the Greater Sacramento area.
The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.
A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.
Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.
The Federal Reserve Board will discuss an advance notice of proposed rulemaking on the Community Reinvestment Act at an open meeting. The central bank had previously declined to support an OCC rule overhauling the 1977 law.