by Jeff Olson, President/CEO
Greetings and Happy Presidents’ Day! Here is some related trivia for you: This holiday was originally established in 1880 in recognition of President George Washington, just one month after his death. The day became known as Presidents' Day as part of the 1971 Uniform Monday Holiday Act, creating more three-day weekends for the nation’s workers. No complaints here! I hope you all enjoying the long weekend.
I trust you are all navigating through this incredible cold snap that has blanketed the region. When your home’s freezer is warmer than the Dakota air, it is COLD! Please stay safe and warm out there. Speaking of weather, neither rain, nor snow, or even freezing temperatures slows down our Dakota legislative bodies! Both state legislatures have been busy with committee hearings and floor debates. So, your DakCU advocacy team has also been busy at both state capitols, tracking and testifying on prospective bills that relate to our industry and could have an impact on credit union operations.
In North Dakota, we joined the financial coalition of credit unions, NDABA, NDICBA, and Farm Credit Services in opposing HB 1366. The bill was heard before the House Transportation Committee last week and credit unions took the lead in the opposition, providing amendments for the committee to consider. We still have an Action Alert on the HB 1366, so please visit our Voter Voice Advoacy Page and reach out to your legislators.
We also had two small victories this week. First, SB 2223, the bill that would have changed the “deed in lieu of foreclosure” process in ND, was defeated in the Senate by a 45-2 vote. Second, the ag mediation bill that has taken on a few different forms, received a 12-2 DNP from the House Agriculture Committee. We are confident it will be killed in an upcoming floor vote.
NCUA Stakeholders meeting with Chairman Harper.
I hope that many of you were able to tune in to the NCUA’s stakeholder’s national webinar broadcast last Thursday. Chairman Todd Harper kicked off the webinar by addressing how the NCUA is responding to the economic fallout created by the pandemic. He also indicated that they would work to position the agency to handle future challenges and strengthen its commitment to consumer financial protection.
“I believe as an agency, the NCUA needs to be fair and forward-looking; innovative, inclusive, and independent; risk-focused and ready to act expeditiously when necessary for credit unions. And engaged appropriately with all stakeholders to develop effective and efficient regulation,” Harper said.
As far as the upcoming examination process, the agency’s chief examination officer shared their supervisory priorities for 2021, which will be focused on addressing risks to the industry and the National Credit Union Share Insurance Fund, as well as reflect the economic conditions and policy changes stemming from the pandemic, including:
Summit Registration Now Open!
As we shared in our CEO Town Hall last month, we are planning on hosting several in-person educational conferences and networking opportunities this year – beginning with our Annual Summit in Fargo, May 3 – 4 at the Delta Marriott Hotel and Convention center. I am very pleased to announce that registration is NOW OPEN!
You do not want to miss the incredible lineup of speakers that we have engaged for you, with areas of expertise ranging from branding, business communications, credit union economics, financers’ rights and regulatory compliance, as well as leadership development and thriving in a competitive market! Stay tuned to the Memo for all the exciting details!
Have a great week,
Dakota CU Association
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