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.
Community banks that were pushed past key asset limits by the Paycheck Protection Program say they will be unable to shrink their balance sheets back to normal size by the 2022 deadline, especially if there is a new round of rescue aid.
The plan still lacks concrete details about standards banks must meet to earn high ratings, but the agency said the new methodology would end grade inflation and could penalize banks that underperform.