FL Supreme Court approves rule change on IOLTA

On Nov. 9, the Florida Supreme Court approved a proposed rule change to the Rules Regulating the Florida Bar that will allow attorneys to open their Interest On Lawyer Trust Accounts (in Florida known as IOLTAs) in credit unions. The proposed rule was initiated by the LSCU in January 2015 shortly after then-President Obama signed […]

Tri-Rivers FCU merges with Hope FCU

Hope Federal Credit Union is expanding into Alabama, merging with Montgomery’s Tri-Rivers Federal Credit Union based in Montgomery will merge with Hope Federal Credit Union, which originated in Mississippi. Tri-Rivers began business more than 50 years ago as Montgomery Teachers Credit Union. Hope serves locations in Arkansas, Louisiana, Mississippi and Tennessee. Hope CEO Bill Bynum […]

Avadian CU announces merger with EBSCO FCU

Avadian Credit Union and EBSCO Federal Credit Union, both headquartered in Birmingham, AL, announce plans to merge. The merger has been approved by each institution’s board of directors and voted on by the EBSCO FCU membership base. Avadian is expected to merge EBSCO FCU by the first quarter of 2018. “We are delighted to be […]

November LSCU roundtable meeting to focus on matters of compliance

Mike Lee, LSCU Director of Regulatory Advocacy, will hold a Regulatory Roundtable to discuss compliance issues pertinent to your credit union. The meeting is planned for Nov. 9, beginning at 9 a.m. at Avadian Credit Union in Birmingham, AL. Topics on the agenda for discussion include the Home Mortgage Disclosure Act (HMDA), review of the […]

CUNA offers initial tax reform analysis

CUNA experts are digging deep into the details of the massive tax reform package released last week by the House Ways and Means Committee and reviewing the proposal for any other provisions that may impact credit union operations. CUNA head Jim Nussle says, “As promised, I’m keeping you apprised as Congress works on tax reform. […]

Washington Wire – Nov. 7, 2017

Last week was a whirlwind in Washington.  Senate Banking Committee Ranking Member Sherrod Brown (D-OH) “walked away” from negotiations with Chairman Mike Crapo (R-ID) on a package of regulatory relief for smaller financial institutions, including credit unions.  While disappointing, we are encouraging all parties to return to the negotiating table and craft a package that […]