Making Investments and Doing the Work: The DCUC Difference
Striving to deliver excellent value for your investment
The Threat OverRegulation Poses to the Future of Credit Unions
Over-regulation poses risks to sustainability and growth
DCUC on Patrol as 2025 Tax Bill Looms
Credit unions have good arguments on the consumer benefits of their tax exemption
Midwest Sub-Council Conference Concludes
DCUC Announces Formation of Texas Sub-Council
DCUC is the trusted resource for credit unions on all military and veteran matters.
• DCUC announced the formation of its Defending Credit Unions Political Action Committee, (DCU PAC), and National Advocacy Fund, (DCU NAF)
• DCUC successfully hosted its 2024 DCUC’s Mid-West Sub-Council Conference from October 8–10, 2024, in Davenport, Iowa. See page 9.
• DCUC sent a letter urging the NCUA to strongly oppose a recently passed Illinois law on interchange fees on taxes and tips. DCUC expressed concerns that the law could severely disrupt credit unions’ operations and the financial ecosystem as a whole. Read more here
• Apply now for DCUC George E. Myers Scholarship Fund!
• The Official 2024 White House Ornament has been released! Get yours today in support of DCUC’s GEM Scholarship!
• DCUC is continuing to monitor 2025 NDAA as House and Senate review, and oppose any attempts to attach CCCA-like legislation or proposed studies to 2025 NDAA or other “must-pass legislation.”
• DCUC is urging Congress to preserve credit union industry's tax exemption
• Save the Date: DCUC’s Monthly Military Advocacy Committee (MAC) meeting will be held Thursday, November 7, 2024, at 3:00 PM ET
• DCUC Active Member Credit Unions: join the meeting by contacting nrogers@dcuc.org.
• DCUC’s First Annual Texas Sub-Council Luncheon, cohosted with RandolphBrooks Federal Credit Union, will be held on November 13, 2024, at 11 AM CT at RBFCU Headquarters in Live Oak, Texas. Learn more and register at dcuc.org/TexasSubcouncil. See page 11 for DCUC’s official announcement!
• Save the Date: DCUC’s 2025 Annual Conference: July 28 – August 1, 2025, at the JW Marriott Desert Springs Resort & Spa in Palm Desert, CA!
As always, we remain dedicated to supporting each of you as you serve those who serve and have served our country. We don’t take your membership lightly and greatly appreciate your continued trust in DCUC. At the end of the day, our goal is to ensure you recognize and receive the exceptional value we strive to deliver with every dollar you invest with us. Thanks again for all your support!”
— Anthony Hernandez, DCUC President/CEO
BOARD OF DIRECTORS
Chairman Jack Fallis
1st Vice Chairman
Maggie Sayer
2nd Vice Chairman
Frank Padak
Secretary Jim Hayes
Treasurer Ron Aoki
Member
Dave Araujo
Member
Robin Larsen
COUNCIL STAFF
President/CEO
Anthony Hernandez
Chief Advocacy Officer
Jason Stverak
Vice President, Operations and Membership
Beth Merlo
Marketing Specialist
Christa Dittus
Communications Specialist
Haleigh Laverty
Director of Conferences and Events
Suzanne Low
Executive Assistant
Natalie Rogers
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CEO UPDATE
Making Investments and Doing the Work: The DCUC Difference
ADVOCACY IN ACTION
The Threat Over-Regulation Poses to the Future of Credit Unions
CAPITAL CORNER
DCUC on Patrol as 2025 Tax Bill Looms
DCUC NEWS
DCUC and R.I.A. Federal Credit Union Host
2024 DCUC Midwest Sub-Council Conference
DCUC Announces Formation of Texas Sub-Council
DCUC’s Defending Credit Unions National Advocacy Fund Launches Targeted Advertisement Campaign Opposing Durbin-Marshall Amendments to 2025 NDAA
SPONSOR FORUM Is Your Credit Union Prepared for Lower Interest Rates?
By Dan Price, VP, Lending & Regulatory Analytics, Trellance
AWARDS & RECOGNITION
CREDIT UNION PEOPLE IN THE NEWS
CREDIT UNIONS IN THE NEWS
MEMBER NEWS
Provided by Anthony Hernandez, DCUC President/CEO
DCUC is growing! In fact, we are pleased to announce the addition of two new member credit unions and are excited to help them serve their military and veteran communities. Beyond welcoming new members, there are many more innovations we are eager to deploy designed to make us even more responsive and accessible to our entire membership.
This month, the DCUC Board and I will engage in our annual planning session. I am proud to report we have made significant progress in our revised strategic plan, much of which has been achieved in just the past 60 days since our Annual Conference. Yet, there is still much to accomplish as we evolve as the industry’s second-largest trade association.
I’m inspired by the ideas and insights many of you, our members and strategic partners, have shared over the last six months. The positive response across the industry confirms we are on the right track. additionally, the DCUC staff has shared valuable suggestions about what we can do more of along with what we should shift our energy to. We look forward to implementing these ideas, and more of our strategic initiatives, in 2025.
The recent dues increase, approved by our membership, will allow us to make necessary investments that will enhance and increase our overall value proposition. While we take great pride in maintaining the lowest dues in the industry, while outpacing others, we will still be able to invest in our people, processes, and platforms to demonstrate our value and deliver even greater results.
Looking ahead, your credit union can expect advancements in our CRM and data analytics as we sharpen our advocacy efforts both in Washington, D.C. and in
your Congressional districts. Our targeted digital advertising campaigns have already proven effective, and we are poised to achieve even more impactful results in the near future. Keep an eye out for several press releases and articles outlining our next steps!
We also plan on more educational content to simplify complex topics like the SCRA, MLA, VA Benefits, and all aspects of the DoD FMR as it relates to financial services on base and within local communities. Many of you have expressed how much you value DCUC’s guidance and expertise on these topics, especially after engaging in another trade’s defense credit union working group. DCUC will continue to lead in this area.
Additionally, we recognize the need for faster, more proactive responses to industry critics in the national media, on network television, and across social media channels. The recent attacks on our industry’s tax exemption on CNBC have set the stage for a looming policy debate on Capitol Hill. Yet, the industry response has been lacking.
DCUC will continue to fill this void by ensuring that both the American public and legislators understand the importance of protecting our tax-exemption status.
Finally, look for a more visible and accessible DCUC presence. Many of you know that it‘s easy to directly contact me and/or the staff, and we are committed to delivering answers, actions, and results. However, I firmly believe that face-to-face (1v1) meetings are the heart and soul of the “DCUC Difference.”
Plus, I love our conferences and events, which will continue to improve. These events always “renew” my energy and commitment. Yet, I am also planning a
Anthony Hernandez, DCUC President/CEO
series of visits to your credit unions to allow me to learn from you, listen to your experiences, and promote the great work you are doing in your communities. This will be a priority in 2025 and beyond.
As always, we remain dedicated to supporting each of you as you serve those who serve and have served our country. We don’t take your membership lightly and greatly appreciate your continued trust in DCUC. At the end of the day, our goal is to ensure you recognize and receive the exceptional value we strive to deliver with every dollar you invest with us.
Thanks again for all your support! n
Provided by Jason Stverak, DCUC Chief Advocacy Officer (CAO)
Credit unions play a vital role in the financial ecosystem, providing millions of consumers with affordable financial services while fostering a sense of community ownership. However, the growing trend of over-regulation poses significant risks to their sustainability and future growth.
Credit unions are unique financial institutions, memberowned and not-for-profit, that focus on providing financial services to their communities. Unlike for-profit banks, credit unions prioritize member service over profits, making them a crucial alternative for consumers seeking fair financial practices. However, the regulatory landscape in which credit unions operate has become increasingly complex. While regulations aim to ensure financial stability and protect consumers, over-regulation could cripple the ability of credit unions to fulfill their mission.
Credit unions are subject to both federal and state regulations, overseen by agencies such as the National Credit Union Administration (NCUA) and the Consumer Financial Protection Bureau (CFPB). Key regulations include the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Bank Secrecy Act, and rules surrounding capital requirements and lending practices. Over the past decade, new regulations have steadily increased, resulting in a heavier compliance burden.
Capital Adequacy Standards—Increasing capital reserve requirements reduce the flexibility credit unions have to offer loans and other services to their members.
Consumer Protection Rules—While protecting consumers is essential, overly prescriptive rules can limit credit unions’ ability to innovate or provide tailored services.
Reporting and Compliance—The expansion of reporting requirements, including those related to anti-money laundering (AML) and Know Your Customer (KYC) rules, adds significant costs and operational complexity.
Increased Operational Costs—Over-regulation increases the costs associated with compliance. Small and mediumsized credit unions often lack the resources to efficiently
Jason Stverak, DCUC Chief Advocacy Officer
manage these compliance demands, as they cannot scale compliance functions as larger institutions do. Compliance costs have been rising disproportionately for smaller credit unions, cutting into operational margins and leaving fewer resources for member services.
Stifled Innovation—Excessive regulations stifle innovation, particularly in the realm of technology and financial products. Credit unions are already facing pressure from fintech companies, which are able to offer more agile, tech-driven solutions without the same level of regulatory scrutiny. Over-regulation further limits credit unions’ ability to compete in this space, as developing and deploying new products requires navigating complex and often outdated regulatory frameworks.
Reduced Competitiveness—Credit unions rely on their ability to offer lower fees, higher interest on savings, and more personalized services than traditional banks. Over-regulation erodes these advantages by forcing credit unions to increase fees or reduce services to cover regulatory costs. This diminishes their competitive edge and could lead to member attrition, further threatening their sustainability.
Mission Drift—Credit unions are built on a commitment to serve their members, often those in lower-income or underserved communities. The increasing burden of regulatory compliance can lead to mission drift, where credit unions are forced to prioritize regulatory adherence over member service. The focus shifts from delivering affordable services to meeting regulatory requirements, undermining the very essence of what makes credit unions unique.
Imagine a small community credit union in the Midwest was forced to merge with a larger institution due to escalating compliance costs.
The need for full-time compliance officers, technology upgrades to meet new reporting standards, and legal fees led to financial strain. The credit union, which had been serving its community for over 50 years, was no longer able to sustain its operations while meeting the new regulatory demands.
Now imagine a different credit union that aimed to launch a new mobile banking app to attract younger members and compete with fintech platforms. However, navigating data security regulations, consumer protection laws, and vendor management requirements delayed the project by over a year. By the time the app launched, many of the targeted customers had already migrated to more nimble fintech solutions, leading to a failed initiative.
While regulations are essential for maintaining financial stability and protecting consumers, there must be a balanced approach that recognizes the unique nature of credit unions. The following recommendations outline how regulators and credit unions can work together to ensure a sustainable future:
Credit unions should not be subjected to the same regulatory frameworks as large commercial banks. Regulators should consider the scale, structure, and mission of credit unions when designing rules, ensuring they are proportional to the risks credit unions present.
Creating regulatory sandboxes that allow credit unions to innovate in a controlled environment can help them compete with fintech companies while ensuring consumer protection. These sandboxes would give credit unions the flexibility to test new technologies and products without the immediate weight of full regulatory compliance.
Streamlining compliance requirements and reducing redundant regulations would lower the burden on credit unions, particularly smaller ones. Leveraging technology and automation can also help credit unions manage compliance more efficiently.
Credit unions play a vital role in the financial ecosystem, providing millions of consumers with affordable financial services while fostering a sense of community ownership. However, the growing trend of over-regulation poses significant risks to their sustainability and future growth.
Open dialogue between regulators and credit unions is essential for creating a regulatory environment that balances oversight with the operational realities of the industry. Engaging credit union representatives in regulatory reform discussions can lead to better outcomes for both regulators and the institutions they oversee.
The threat of over-regulation is a significant challenge to the future of credit unions. While regulations play an important role in ensuring financial stability, excessive and poorly tailored rules can undermine the very mission of credit unions, increase costs, and stifle innovation. By adopting a more flexible, collaborative approach, regulators and credit unions can work together to protect consumers while ensuring the long-term viability of these essential institutions. The future of credit unions depends on a regulatory environment that allows them to continue serving their members effectively, without sacrificing their core values or financial sustainability.
DCUC continues to work with policymakers, regulators, and credit union leaders to help create and sustain a regulatory framework at both state and federal levels; one that supports innovation, reduces unnecessary burdens, and fosters the growth of credit unions. This will ensure that ALL credit unions remain a vital component of the financial ecosystem, providing accessible and equitable financial services to millions of people.
DCUC aims to lead the industry by providing a clear roadmap to help credit unions overcome the challenges of overregulation, allowing them to stay focused and thrive in their member-centric missions. n
Provided by John McKechnie, III
Credit unions stayed out of the conversation at the first Senate hearing on next year’s widely anticipated tax reform legislation, but friends and skeptics alike are telling DCUC that the credit union tax exemption is almost certain to be one of the issues examined on Capitol Hill in 2025.
Congress will revisit the landmark 2017 tax bill in the 119th Congress, principally due to expiring provisions. DCUC has been keeping its ear to the ground as preliminary discussions are underway about how wide, and how deep, the rewrite will be.
Clues about what might be under discussion began to emerge in July. The influential Washington publication POLITICO laid out a process currently underway where a bipartisan group of House Ways and Means staff are taking early steps to identify exempt organizations, including credit unions, that should be looked at to determine whether their exemptions remain valid.
In the aftermath of that article, there has been speculation about credit unions being a topic of conversation in the tax debate. Ways and Means staff predicted “credit unions may have to do some work next year. You are in the mix, along with a lot of other exempt industries.” At the recently concluded Congressional Caucus in Washington, hosted by America’s Credit Unions (ACU), former House Speaker Paul Ryan told the audience that credit unions should be “watchful during tax reform deliberations next year. All exemptions are likely on the table.”
Other voices are chiming in. DCUC found out that a member of the House Republican Leadership told lawmakers during an August retreat that “credit unions buying banks needs to be looked at next year…those transactions should trigger some type of tax consequence.” Another Congressman cautioned a league group that “larger credit unions over a certain asset size need extra scrutiny and added everything is potentially under discussion in 2025. I’m not saying I want to see you taxed but understand that we’re going to take a 360° look at all exemptions.”
John McKechnie, III, DCUC’s Strategic Partner
Credit unions have good arguments on the consumer benefits of their tax exemption— let’s sharpen our pencils and be ready to put them out there.
DCUC is not a passive bystander as tax reform begins to gel. In a letter delivered in advance of the above-referenced September Senate Finance Committee hearing on tax reform, DCUC Chief Advocacy Officer Jason Stverak laid out the case for maintaining the credit union tax exemption, stating that defense credit unions and their member-owners “are strongly opposed to any proposal that would eliminate or undermine the nonprofit, tax-exempt status of credit unions. The longstanding tax-exempt status of credit unions reflects their unique structure and mission to provide financial services to their members, not to generate profit. Removing this status would have severe consequences for credit unions, their members, and the communities they serve.”
Where does the tax reform road lead for credit unions? Like most things on Capitol Hill, there is not a definite timetable or set agenda, although updating the 2017 law is a priority of leaders in both chambers and parties. Spring 2025 is probably when the ball gets rolling, at least with hearings and maybe the release of draft legislation. Where things go from there is anyone’s guess. This potential tax bill presents threats to credit unions, but also opportunities. Following the Senate hearing, I was quoted in a credit union news outlet about the failure of the bank lobby to land a punch in Round 1 of the fight. But I added that “it appears most tax exemptions are going to receive scrutiny when tax reform is revisited next year. Credit unions have good arguments on the consumer benefits of their tax exemption—let’s sharpen our pencils and be ready to put them out there.” n
DCUC successfully concluded its 2024 Midwest Sub-Council Conference held from October 8–10. This year’s Midwest event, co-hosted by R.I.A. Federal Credit Union, brought together industry leaders to cover important topics including military service and financial technology, while also providing timely updates on key regulations and legislation impacting credit unions.
Since its inception in 1972, the Midwest Sub-Council has fostered a close-knit community of credit union executives gathering by a shared commitment to serving military and veteran communities. The Midwest Sub-Council Conference provides an essential forum for these leaders to exchange best practices, discuss emerging trends, and strengthen their ability to meet the needs of their communities.
Jim Watts, R.I.A. Federal Credit Union’s President/CEO, stated “We just concluded a successful Midwest Council Conference that was both educational and entertaining. Judging by the questions asked of the speakers, I’m certain everyone gained valuable information relevant to what’s happening today in the credit union industry.”
DCUC and R.I.A. Federal Credit Union provided an impressive lineup of speakers for conference attendees and guests including Jeff Bolton, creator and senior executive producer of THE WATCH television series; Katie Averill, superintendent of Credit Union Division, Department of Insurance and Financial Services, State of Iowa; Marcus Rothaar, manager, Data Analytics Development & Delivery, Raddon; John Dearing, partner, Capstone Strategic; Lon Varns, president, Aries Fraud Solutions; and Representative Mike Vondran State Representative, Iowa.
In addition to the speaker sessions, the event featured an advocacy panel with DCUC’s President/CEO, Anthony Hernandez, Chief Advocacy Officer Jason Stverak, and Strategic Partner John McKechnie. Afterward, Scott Duszynski, VP of Member Engagement for the Armed Forces Financial Network (AFFN), provided an update on AFFN's recent initiatives and news.
“Our Midwest Sub-Council Conference continues to be a unique opportunity for credit unions serving people in America’s heartland,” said Anthony Hernandez, President/CEO of DCUC.
“Through this gathering, we not only reaffirm our commitment to increasing DCUC’s member value and advocacy but also to spark innovative solutions to the unique challenges faced by our member credit unions serving in these rural and small communities, which are located around military bases. Plus, I am always inspired and uplifted when I see people from different credit unions, many meeting each other for the first time, as they form new and meaningful friendships in between sessions, during meals, and especially in the hospitality room after dinner. These friendships and collaborations are the heart and soul of the Midwest Sub-Council.”
DCUC extends its gratitude to this year’s Midwest Sub-Council Conference sponsors AFFN, Mutual of Omaha, Earnest Consulting Group, National Cooperative Bank, Gallagher, Revio Insight, Parc Street Partners, and TruStage. n
DCUC is proud to announce the formation of the DCUC Texas Sub-Council. This unique gathering is dedicated to addressing the specific challenges and opportunities faced by credit unions serving military members, veterans, and their families in Texas.
“DCUC has been a steadfast advocate for the vital role credit unions play in supporting the financial well-being of servicemembers, veterans, and their families,” said DCUC President/CEO Anthony Hernandez. “While strengthening our efforts in the Texas region, this unique Sub-Council serves to provide our members an additional platform to champion their interests and operations.”
This regional event will enable credit union executives and leaders to share and receive insights, highlight concerns, and discuss strategies for delivering the best financial services to military and veteran members.
“The Texas Sub-Council presents an excellent opportunity for DCUC to strengthen our responsibility and accessibility to credit unions in the Texas region,” shared Jason Stverak, DCUC Chief Advocacy Officer. “This will also help shape and advance our enhanced advocacy agenda for the future.”
“DCUC remains committed to increasing its member value, ensuring that credit unions are fully equipped to support those who serve our country,” added Hernandez. “The formation of this new Sub-Council is a key component of our broader strategic plan to enhance our representation of all credit unions serving our Nation’s military and veteran communities.”
Registration is now open for the Sub-Council’s first gathering, which will take place on November 13, 2024, from 11:00 AM to 2:00 PM CT at the Randolph-Brooks Federal Credit Union (RBFCU) Headquarters in Live Oak, Texas. The event will be held as a luncheon, offering members an opportunity to connect in person, network, and collaborate on initiatives tailored to the needs of the Texas defense credit union community.
All active and affiliate DCUC members in Texas are eligible to join and participate in the Texas Sub-Council. For more information or to register for the event, please visit dcuc.org/TexasSubCouncil or contact Natalie Rogers at nrogers@dcuc.org n
The Defense Credit Union Council’s (DCUC) Defending Credit Unions National Advocacy Fund has launched a targeted digital advertising campaign to highlight the risks and concerns of adding Senator Dick Durbin’s (D-IL) and Senator Roger Marshall’s (R-KS) proposed Credit Card Competition Act, CCCA, language to the 2025 National Defense Authorization Act, NDAA.
The advertising campaign reaffirms DCUC’s position that any CCCA-like amendments could jeopardize important defenserelated legislation while attempting to enrich the largest multinational retailers at the expense of our Nation’s military and veteran consumers.
“This advertisement campaign allows us to raise awareness of the potentially harmful effects the Credit Card Competition Act could have on service members, veterans, and their families,” said Jason Stverak, DCUC Chief Advocacy Officer. “It also serves as an important tool to inform and engage the American public, encouraging them to share their voice. DCUC remains at the forefront of this issue, advocating on behalf of our member credit unions and the broader credit union movement.”
“Our National Advocacy Fund is already enabling us to bolster our advocacy efforts such as this targeted ad campaign to combat harmful CCCA legislation and continue amplifying our concerns to key decision-makers,” said Anthony Hernandez, DCUC President/CEO. “It’s imperative Congress, and the American public understand the negative impacts this legislation poses to American consumers, especially those serving or who have served our country.”
Hernandez continued, stating “We will continue to safeguard these communities’ access to safe, reliable financial services that credit unions have provided for decades. DCUC is fiercely committed to being the driving force in Washington when safeguarding and championing the credit union difference.”
Hernandez shared more about DCUC’s position on this issue in his article titled “Reject the Credit Card Competition Act—Protect Our Military’s Readiness!” n
By Dan Price, VP, Lending & Regulatory Analytics, Trellance
Now that the Fed has officially lowered interest rates, your credit union must take action to ensure it’s prepared for the coming changes in our economy if it hasn’t already.
Once rates start to come down, consumers who have been stuck with 7% interest rates on their homes and cars are going to start shopping for refinancing offers to reduce their monthly payments. Often, consumers want the easy option—if their current financial institution offers them refinancing, they’ll likely stick with their current institution just to avoid the hassle of moving elsewhere.
This is why credit unions must be prepared to move quickly: it’s counterintuitive for a financial institution to offer members a lower rate on an existing loan, and many institutions will be slow to make these types of offers. If credit unions can get in front of non-members with refinancing offers before their own institutions reach out, they’re more likely to make the switch.
Preparing for a refinancing boom isn’t the only way to make sure your credit union is prepared for lower interest rates—credit unions should also invest in loan data analytics solutions to ensure they have current, up to date information on all loan portfolios as economic conditions continue to shift.
Lower interest rates are likely to cause a ripple effect in consumer spending habits—keeping an eye on your loan portfolios
will ensure your credit union is able to quickly respond to changing risk and make informed decisions regarding what solutions and services it promotes. Additionally, loan data analytics will help your credit union better address regulatory scrutiny. While examination practices were lowered during COVID-19, many credit unions are reporting a return to the strict examination practices that were more common prior to 2020, especially as it relates to fair lending and multidimensional portfolio analysis.
While lowered interest rates will give many consumers breathing room in their budget, the fact of the matter is that our current economic condition isn’t a comfortable one. Many consumers have reported a rise in credit card debt as inflation makes it more difficult to purchase necessities such as groceries. And with unemployment on the rise, many consumers—potentially even your members—are at risk of default.
Changes are coming for the current economic status quo— some positive, some negative, but credit unions who prepare themselves for those changes will be able to ride the wave and meet the challenges they encounter along the way. Maintaining loan portfolios is going to be key in the coming months; by keeping a close eye on changes to their loan portfolios, credit unions will be better positioned to anticipate and adjust for risk while also meeting member needs. n
Provided by Eglin FCU
Eglin FCU is pleased to congratulate HR Supervisor Robin Lakes for 30 years of service.
“Over the past three decades, Robin has been an indispensable member of our credit union family. Her unwavering dedication and steadfast loyalty have significantly enriched our organization,” said SVP/Chief HR Officer Gina Denny. “Robin always shows genuine care and concern for others. She makes everyone feel valued and welcome. We deeply appreciate the enduring commitment she has demonstrated throughout her years with us.”
Robin joined the Eglin FCU in 1994 as a Records Vault Assistant. In her early years with Eglin FCU, she held positions in Operations as a Loan Processor, Loan Counselor, and Loan Supervisor. In 2009, Robin transitioned from Operations to Human Resources as Training Coordinator. In 2021, she was promoted to her current role as Human Resources Supervisor.
During her celebration, Robin commented, “I feel so blessed and thankful for the relationships I’ve built over my years here, and I couldn’t imagine my career anywhere else. I have enjoyed all of
Left to right: Debra Jewell, Jessica Short, Chris Martarano, Nicole Hercules, Joyce Dew, Susan Yocum, Janell Upton, Jeanette Schuler, Todd Wilson, Donise Cottman, Taevann Calloway, Nicholas Dolph, Richard Bromley, & Anthony Filipas of Dover FCU
SVP/Chief HR Officer Gina Denny (right) congratulates HR Supervisor Robin Lakes (left) for 30 years of service.
my positions with Eglin FCU and am especially proud to be part of the Human Resources team. Our department has grown quite a bit over the last 15 years, and I look forward to seeing how the credit union and my team continue to evolve over the coming years.”
Provided by Dover FCU
Dover FCU proudly received the 2024 Top Credit Union Award at the Stars of Delaware Celebration on September 5. This prestigious event, hosted by Delaware State News at the beautiful King Cole Farm in Dover, honored the best organizations, businesses, and individuals across the state. Dover Federal is honored to be recognized among Delaware’s finest.
The Stars of Delaware awards are determined by community votes, highlighting over 200 organizations, businesses, and individuals as the best in their respective categories throughout Delaware. “Receiving the Top Credit Union Award is a testament to the dedication and hard work of our entire team. We are deeply committed to our members and the communities we serve, and this recognition inspires us to continue striving for excellence in everything we do,” stated Janell Upton, CEO.
Awards Honors Excellence in Web Creativity and Digital Communication
Provided by PenFed CU
PenFed CU announced its marketing team was selected for three dotCOMM awards for their creation of the How to Pay for Your First Apartment learning center article, Premium Online Savings Puerto Rico Social Ads and Access America Checking Evergreen campaign. The dotCOMM awards is an international competition honoring excellence in web creativity and digital communication.
“We thank the judges for recognizing the PenFed marketing team’s creativity and efforts,” said PenFed Chief Marketing Officer Gaurav Bhatia. “The campaigns selected for these awards showcase PenFed’s commitment to financial literacy and helping our 2.9 million members worldwide achieve their dreams.”
Provided by GECU
GECU is thrilled to announce the induction of President/ CEO Crystal Long into the Credit Union Women Making History: Herstory exhibition at America’s Credit Union Museum. This prestigious exhibit honors the remarkable achievements of women in the credit union industry who have significantly advanced the credit union movement.
The Herstory exhibit, as described by the Museum, is “set on honoring the past, present, and future of incredible women making history. Herstory will be an interactive exhibit showcasing women’s stories never heard before.” This tribute highlights the dedication and impact of women leaders in the industry.
“I am deeply humbled and honored to be inducted into this extraordinary exhibition,” GECU CEO Crystal Long said. “Together with the dedication of many other women before me— present and future—the credit union movement continues to thrive and evolve.”
GECU President/CEO Crystal Long
Provided by RBFCU
R andolph-Brooks Federal Credit Union (RBFCU) has been awarded the No. 1 spot in “Top Workplaces,” a program sponsored by the San Antonio Express-News. The program bases its awards on employee feedback collected by Energage, a third-party survey platform seeking honest feedback and engagement. The survey is conducted and is founded on comprehensive research and industry benchmarks, leveraging data from millions of employees across thousands of organizations over the past 18 years.
“We have been in this program year over year, and being recognized as No. 1 is a testament to the culture and values our employees bring to the credit union daily,” RBFCU President/CEO Mark Sekula said. “We talk about our mission being to improve our members’ economic well-being and quality of life, and our employees are a key component to upholding that mission. They exemplify our ‘people helping people’ mentality.”
Provided by Dover FCU
Dover FCU is honored to be named the First State favorited credit union for the Central and South Delaware regions during the 2024 Community Choice Awards.
The First State Favorites Contest is an annual event where the public nominates and votes for their favorite local businesses and organizations across various categories. “Being voted Best Credit Union in Delaware for the 8th time is a tremendous honor. This award recognition reflects the public’s confidence in our organization and ability to serve their financial needs. Our commitment to serving our communities with excellence remains our top priority. We are grateful to our members for their trust and to our dedicated team for their unwavering efforts,” said Todd Wilson, Vice President, Retail.
Provided
by PenFed CU
PenFed CU announced its EVP and Chief Audit Executive Terry Grafenstine, was named to Ignition’s “Top 50 Women in Accounting” list for 2024. The Women in Accounting awards honor inspiring women who serve as catalysts of change within the accounting and bookkeeping industry, advocating for innovation, diversity, and inclusivity.
The judging panel was made up of highly respected industry professionals with a broad range of experience, including business leaders, innovators, entrepreneurs, young professionals, and Top 50 Alumni. This year, judges received 847 unique nominations from 29 countries.
“I am flattered and excited to have been selected by Ignition as one of the Top 50 Women in Accounting for 2024,” said Grafenstine. “This annual recognition celebrates women in accounting and bookkeeping who are making an impact on the profession and inspiring the next generation of female leaders in the industry. I am deeply honored to be counted among this incredible class of women.”
DOVER, DE—Dover FCU is pleased to announce Donna Kiscaden has been promoted to EVP. “I’m thrilled to continue working alongside the Executive Team in my new role. My focus is on growing our Credit Union through our commitment to our many communities while further enhancing our operations and workflows. Dover Federal Credit Union’s positive culture reflects both internally and externally and I look forward to influencing new initiatives for our long-term success.”
Dover FCU (DFCU) is pleased to announce Alisha Cooper has joined the Credit Union, as a Mortgage Loan Originator.
Dover FCU is pleased to announce that A.J. Filipas has joined the credit union as the VP of Commercial and Consumer Lending.
FORT WALTON BEACH, FL—Eglin FCU’s Board of Directors has appointed Cathie Staton as the new President/CEO of Eglin FCU effective Oct. 28, 2024. She succeeds Jerry Williams who is retiring after 30 years of service with Eglin FCU, the last 10 years as President/CEO.
Board Chair Dan McInnis stated, “The Board would like to thank Jerry for his dedication and years of service advancing Eglin Federal Credit Union’s mission, and we are excited to announce the appointment of Cathie Staton as our new President/CEO.”
Eglin FCU is pleased to announce Neko Stubblefield of Baker has been promoted to the SVP of Membership and Community Development. In her new role, she will have expanded responsibilities to include community development across the Credit Union’s expanding footprint.
PENSACOLA, FL—PenAir CU is excited to announce the appointment of Rebekah Vassar as the new Panama City, FL Market Executive for its Commercial Banking team.
ROME, NY—AmeriCU CU is excited to announce the appointment of Jenny Fox as the new Digital Marketing Manager. Fox will be responsible for overseeing digital marketing strategies, growing the credit union’s online presence, and tailoring marketing initiatives to deliver measurable results aligned with the credit union’s objectives.
SUITLAND, MD—Andrews FCU announced that Yelena Gureyeva was promoted to the role of SVP of Accounting and Finance. In this role, Gureyeva will lead a team of accounting and finance professionals, as well as guiding cross-functional teams to ensure the most efficient use of credit union resources.
NOBLESVILLE, IN—Financial Center is proud to announce the opening of its newest branch, Hazel Dell Crossing, located at 146th Street and Hazel Dell Road. This flagship branch marks the credit union’s official expansion into Hamilton County, furthering its commitment to delivering financial wellness to local communities.
Provided by Abound CU
Abound CU recently celebrated the graduation of five of its team members from the Emerging Leaders Program.
The Emerging Leaders Program, which is offered by the Kentucky Credit Union League, is a leadership development experience designed to develop and expand the capacity of tomorrow's credit union leaders. During the program, participants learn from guest presenters, work in small groups to explore topics, partake in a community service project, and strengthen their skills to be successful at the next level and beyond. The program culminated with individual presentations by each participant to a group of 200 Kentucky credit union board members and executives.
“Our learning-driven culture is something we’re very proud of at Abound,” says Ray Springsteen, President/CEO. “I’d like to congratulate our five Emerging Leaders Program graduates for their dedication to professional development and continuous learning. Programs like these help Abound better serve our members and make an even bigger difference in our community.”
Left to right: Jennifer Deluca, Executive Director, Fisher House Boston, Peter Rice, President & CEO, Hanscom Federal Credit Union, Maj Gen Gary Keefe, The Adjutant General, Massachusetts National Guard, Tommy Lyons, Advisory Board,
Provided by Hanscom FCU
Hanscom FCU’s charitable foundation recently donated $4,000 to Fisher House Boston. The charitable fundraising effort launched earlier this summer following the sudden passing of longtime HFCU employee Tom Boodry.
In honor of Tom Boodry and in support of U.S. Veterans, a team of HFCU employees, led by President & CEO Peter Rice hiked the famous El Camino de Santiago trail. The group trekked 75 miles over five days across Spain to raise money for the Tom Boodry Legacy Fund and Fisher House Boston.
Fisher House provides a “home away from home,” where military families stay free of charge while a loved one receives in-house treatment in any of its medical centers in Boston. Representatives from Fisher House recently gathered with Rice and others at the credit union’s new WealthTrek financial questing office in Burlington to deliver the funds.
Provided by Tower FCU
Tower FCU employees volunteered in the community on September 11 at four local charities that help our military heroes and children in need— and surprised local firefighters with lunch—as part of the 9/11 Day of National Service and Remembrance.
Tower employees volunteered at Casey Cares, to support critically ill children and their families; Maryland Therapeutic Riding, which provides equine therapy for injured soldiers and Veterans; and the Howard County and Anne Arundel County Food Banks, to help fight food insecurity in our community. A highlight of the day was a surprise lunch delivery at six local firehouses to show appreciation for the outstanding service and dedication our first responders provide for the community.
“Tower is passionate about helping to create stronger communities where we live and work,” said Rick Stafford, Tower’s President and CEO. “Today was a day to give back to our communities as we honor and remember the brave heroes who lost their lives in the tragic events on 9/11 and their families. We were especially proud to provide lunch for our local first responders to show our appreciation for their service and sacrifice to help keep us safe.”
The Tower team joined more than 30 million Americans who dedicate time each September 11 to helping others, rekindling the spirit of harmony that brought the country together in the days following the 9/11 tragedy. September 11 has become a positive day for citizens to volunteer in their communities, donate to charities, and perform good deeds and other acts of kindness. It is now the largest day of service in the U.S., officially recognized under federal law.
Through the “Tower Gives Back” program, Tower employees can take paid time off annually to volunteer at charities supported by the TowerCares Foundation, Tower’s philanthropic arm. The TowerCares mission is to help our active military heroes, Department of Defense civilian employees, Veterans, and children in need.
“Thank you to all of our employee volunteers, first responders, and the incredible charities who made this special day possible,” Stafford said. “We honor and remember the fallen by lifting our communities, uniting through service, and giving our time to help those in need.”
Tower FCU employees volunteered on September 11 at Casey Cares in Columbia, Maryland, as part of the 9/11 Day of National Remembrance and Service. Casey Cares is a non-profit that helps critically ill children and their families. The Tower team folded and bundled hundreds of baby and children’s pajamas, which were then distributed by Casey Cares to area hospitals.
Tower FCU employees surprised our local first responders on September 11 at the Howard County Fire & Rescue in Ellicott City, Maryland, with a free lunch, in appreciation for their service and dedication to our community. The Tower team also provided lunch for first responders at five additional Maryland fire stations in Columbia, Gambrills, Hanover, Laurel, and Pasadena.
Tower FCU employees volunteered at Maryland Therapeutic Riding (MTR) in Crownsville, Maryland, as part of the 9/11 National Day of Remembrance & Service. MTR uses the healing and therapeutic power of horses to improve the physical health and well-being of children and adults with physical, emotional and developmental disabilities, including soldiers and Veterans dealing with PTSD, traumatic brain injury, depression, and amputation.
Provided by Andrews FCU
Andrews FCU recently served as the Diamond Premier Sponsor of the Berlin Airlift event at historic Wiesbaden Airfield in Wiesbaden, Germany. This event brought together the USAG Wiesbaden community to commemorate the Allied support of Western Germany during the post-World War II time period.
According to Andrews Federal Vice President of Overseas Operations James Niba, the event was a time to reflect on the past and celebrate the spirit of community that exists in the overseas military community, “The Berlin Airlift event holds a special place in history, symbolizing unity, resilience, and the triumph of the human spirit during challenging times,” Niba said. “It serves as a reminder of the sacrifices
made and the unwavering commitment to freedom and democracy, and it is an event we are proud to support.”
During the event, credit union leaders and employee volunteers played an active role in welcoming guests to the airfield and encouraging a spirit of community. Credit union leaders, including Board Chair Col. Kenneth McKinney, Board Vice Chair Col. L. Dail Turner and Chief Operating Officer Damita Robinson, were on-site to support the event. They also had the honor of meeting General Lucius D. Clay Jr., the grandson of legendary military leader
Lucius D. Clay, after whom the Clay Kaserne in Wiesbaden is named.
“Being part of the Wiesbaden community and serving our valiant military service members is an honor,” Robinson said. “The history and the impact of the Berlin Airlift is a reminder of all our overseas military community has done to support freedom and justice around the world, and we are honored to have the opportunity to continue serving and supporting the military community in Wiesbaden.”
Provided by Service CU
Service CU staff dedicated a day to assembling 1000 Care Bags for guests staying at the Landstuhl Fisher House in Landstuhl, Germany. The Fisher House provides a home away from home for families and patients receiving medical care at Landstuhl Regional Medical Center. Guests at the Fisher House often arrive on short notice, as they are visiting loved ones undergoing treatment for injuries or illnesses, typically sustained in the line of duty. In some cases, guests may be saying a final goodbye to their loved ones before they pass.
Service CU’s small token of appreciation aims to provide comfort during these difficult times. The care bags offer essential items that may have been forgotten in the rush, helping to ease the burden of a last-minute stay for families arriving from the United States.
In addition to assembling Care Bags, Service CU volunteers also cleaned the grounds around the Fisher House. Their efforts included raking leaves, pulling weeds, organizing the storage area, and sweeping walkways, all to ensure that guests staying at the Fisher House experience a welcoming and well-kept environment.
“Service CU’s support, like this generous donation, is vital to the operations of Fisher House. It directly impacts the well-being of our families, ensuring they have what they need when they need it most. Contributions like these help us continue our mission of providing a ‘home away from home’ for military families in need,” said Sarafine Buchanan, general manager of the Landstuhl Fisher House.
Added Jaime Yates, AVP of Community Development at Service CU, “Service CU has been proud to support the Landstuhl Fisher House through monetary donations as well as spring and fall clean ups over the years. They play such a vital role for our military families, and we are grateful for the opportunity to support them in a new way this year through the care bag donations.”
Provided by Global CU
The Global CU Foundation donated $55,000 to community nonprofits in Alaska, Arizona, and Washington. The recent donations were part of the Foundation’s 2024 quarterly distribution of funds in support of its mission to aid organizations that benefit children, veterans, and active-duty members of the military and their families.
“The Global Credit Union Foundation is deeply committed to improving the communities we operate in,” said Noël Gabler, executive director, Global CU Foundation. “The nonprofits we give to are vital to that mission, and we look forward to continue offering our support whenever we can.”
Recipients of funds include:
$10,000 to TOGETHER!—TOGETHER! is on a mission to advance the health and well-being of all young people, working to ensure they are supported, safe, and valued. TOGETHER! partners with families, schools, and the community to collaboratively address root causes to community problems.
$10,000 to Phoenix Children’s Hospital—The Phoenix Children’s Hospital works to advance hope, healing, and the best healthcare for children and their families.
$15,000 to Armed Services YMCA (ASYMCA) of the Pacific Northwest—The ASYMCA empowers military families, no matter who they are or where they’re from, by ensuring access to resources, relationships, and opportunities for all to learn, grow, and thrive.
$10,000 to the Kenai River Sportfishing Association—Funds went to support the Jr. Classic program that provides an opportunity for military children to learn about water safety and enjoy a day of fishing on the Kenai.
$10,000 to the American Diabetes Association—American Diabetes Association is a network of more than 565,000 volunteers, their families and caregivers, a professional society of nearly 12,000 health care professionals, as well as nearly 350 staff members— all working to prevent and cure diabetes and to improve the lives of all people affected by diabetes.
Provided by PenFed CU
Lisa Hallett, co-founder of wear blue: run to remember, a nonprofit organization dedicated to honoring fallen service members through purposeful steps every week in community runs, recently completed a 150,000 kilometer challenge along the Wonderland Trail around Mount Rainier, Washington. The challenge set a fundraising goal of raising $150,000 along Lisa’s 150,000 kilometers and has currently raised over $111,000 to create opportunities to honor and remember the brave men and women who have sacrificed so much.
You can help the wear blue community meet their goal and offer support for Gold Star and Surviving Families at the following link. The PenFed Foundation, a national 501(c)3 founded by PenFed Credit Union, provided a $25,000 matching grant to the 150K challenge in order to maximize the impact of every dollar raised in support of the military community.
After losing her husband in Afghanistan, Hallett turned to running to cope with her loss. Lisa found a community of other wives and families searching for support and wear blue: run to remember was born. In the years since, Lisa has built the group into the global organization it is today as an outlet for loved ones to honor those they have lost and as a way for every American to convey tangible gratitude to our service members.
“Throughout this run, I was reminded that even in the hard, all things are possible,” said Hallett. “And this possible is made true by the support of a community who gets it, our wear blue community."
Funds raised for the 150K challenge will make a significant difference by:
• Supporting Gold Star and Surviving Families through wear blue’s Gold Star Race Program, providing families with the resources and community they need to navigate their loss.
• Sustaining Communities across the nation for a year, fostering camaraderie, wellness, and remembrance for our military families, veterans, and those who honor and grieve the loss of our fallen heroes.
Provided by Credit Union West
The CU West CARES Charitable Foundation and Credit Union West employees donated $8,120.32 to StreetLightUSA, a local nonprofit organization that helps victims of human trafficking. This is the second donation from Credit Union West employees of 2024. The CU West CARES Charitable Foundation matched the funds raised by credit union employees to make a bigger impact for this important organization.
“It is our pleasure to support the important work done by StreetLightUSA to help heal and protect these survivors,”
said Karen Roch, President/CEO of Credit Union West. “I’m so proud that our employees chose this organization to donate their funds to.”
The EmployeesCARE Program at Credit Union West is funded by employees
to give back to local organizations. Each year, employees nominate and vote for four organizations that will benefit from the funds, and to enhance their giving, the CU West CARES Charitable Foundation matches their contributions.
Provided by PenFed CU
The PenFed Foundation is providing The COMMIT Foundation, a nonprofit organization dedicated to empowering those who serve and their families, with a grant to support the expansion of COMMIT’s Transition Mentoring Workshops aimed at enhancing the post-service transition experience for veterans and military spouses.
The COMMIT Foundation’s Transition Mentoring Workshops are designed to address the unique needs of military families, offering mentorship from experienced professionals and resources tailored to individual career and life goals. By fostering connections and providing practical guidance, these workshops empower participants to thrive in their post-military lives.
“We are honored to receive this generous grant from the PenFed Foundation's Military Heroes Program,” said CEO of The COMMIT Foundation JC Glick. “This funding will allow us to broaden the reach of our workshops, ensuring that more veterans and military spouses receive the critical support they need to successfully transition into post-military life.”
The COMMIT Foundation’s Transition Mentoring Workshops provide personalized support and guidance to veterans and military spouses, helping them navigate the challenges of career transition, professional development and personal growth. The COMMIT Foundation’s mission aligns with The PenFed Foundation’s mission to empower veterans as they transition from military service to success in civilian life. The PenFed Foundation was created in 2001 and has provided more than $55 million in financial support to veterans, active-duty service members, families, and caregivers.
“The PenFed Foundation is proud to partner with The COMMIT Foundation and we support their comprehensive high-impact approach to helping America’s veterans and military families find personal and professional purpose after service,” said PenFed Foundation President Andrea McCarren.
Those interested in supporting the PenFed Foundation can visit penfedfoundation.org and donations in support of The COMMIT Foundation and its programs can be made here.
Provided by Global CU
Amountainous backdrop and beautiful tree-lined fairways set the stage for the Global CU Foundation Fairway Friends Golf Tournament at the Anchorage Golf Course. The July 16 event brought business partners and golfers of every level to raise money for Girl Scouts of Alaska and Operation Homefront. By the end of the day, $60,000 was raised to help these nonprofits continue their work in the community.
“Our annual golf tournament is a great way to help raise money for these vital charities while also having a lot of fun,” said Geoff Lundfelt, President of the Global CU Foundation. “I’d like to extend a special thanks to the credit union’s business partners and our employee volunteers. Their support is critical to our success, and I’m always moved by how enthusiastic they are to help us, year after year.
$30,000 was given to the Girl Scouts of Alaska, whose mission is to help girls create the world they want to live in and
Geoff Lundfelt (pictured far left), President, Global CU Foundation, and Noël Gabler (pictured far right), Executive Director, Global CU Foundation, presented $25,000 each to Operation Homefront and Girls Scouts of Alaska. After the check presentation, an additional $5,000 was raised for each organization. Photo provided by Global CU Foundation.
strive to make it better every single day. They explore their strengths, take on new challenges, and can always be themselves, regardless of background or ability.
$30,000 went to Operation Homefront in support of their mission to build strong, stable, and secure military families so they can thrive, not simply struggle to get by, in the communities—OUR communities—they have worked so hard to protect.
The Global CU Foundation Fairway Friends Golf Tournament is an annual Foundation event that brings together business partners, credit union leaders and volunteers, and the community to support Foundation nonprofit partners.
