Sen. Susan Collins, R-Maine, paid the Maine Credit Union League a visit at their headquarters to discuss how credit unions are protecting member data.
Desert Financial Credit Union contributed almost 600 hours of service to 15 area non-profits. The Phoenix, Ariz.-based CU also donated $1,0875 in honor of 15 teachers who helped found the credit union.
Credit Union of Southern California in Anaheim Hills donated $200,000 to 16 local organizations at Wake Up Whittier, a monthly networking event.
Assisting the military
Hanscom Federal Credit Union was recognized for its financial education program that focuses on the military community. The Hanscom AFB, Mass.-based CU also received the America Saves Designation of Savings Excellence Award for 2019.
Sharonview Federal Credit Union of Fort Mill, S.C. donated school supplies along with $1,000 to support a back-to-school program that was organized by local non-profit Sisters at Heart.
Northern Star Credit Union of Portsmouth, Va., hosted an 8-month program to help 98 young children accelerate in the STEM field.
Hawaii Community Federal Credit Union of Kailua-Kona, Hawaii, raised $9,700 for the American Cancer Society's Hilo Relay for Life event.
Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected customers.
With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database.
Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.