NCUA Board heeds NAFCU call to expand ‘qualified charity’ definition
The NCUA Board held its November meeting Thursday where the board unanimously approved a NAFCU-sought final rule that would expand the definition of a qualified charity to include veterans’ organizations as defined by the Internal Revenue Code. The rule will go into effect 30 days after publication in the Federal Register.
The NCUA’s current definition of a “qualified charity” is limited to 501(c)(3) organizations. NAFCU and the other groups advocated for the change, noting it “will increase the resources available to help veterans in need and further strengthen the credit union industry’s ties to veterans, military servicemembers, and their families.”
Additionally, the NUCA Board received a briefing on the Share Insurance Fund (SIF), revealing that the fund reported a net income of $475 million with an equity ratio of 1.27 percent.
NAFCU will continue to engage the NCUA on credit union priorities.
Add to Calendar 2023-11-30 09:00:00 2023-11-30 09:00:00 Safeguarding Credit Unions with Threat Intelligence Listen On: Key Takeaways: [1:01] What is threat intelligence, and why is it important to CUs? [2:14] What are threat intelligence feeds, and what role do they play in strengthening CUs? [4:41] Leveraging threat feeds and integrating intelligence into tools is crucial. [6:35] Learn what threat CUs should be most concerned about. [7:39] Phishing is ever-evolving, and user awareness is critical. [10:43] Learn how Defense Storm uses feeds to protect its customers. [13:28] Threat intelligence is not as complicated as some think; initiation can be easy through Slack, discussions, and a reporting culture. Web NAFCU email@example.com America/New_York public
Add to Calendar 2023-11-28 09:00:00 2023-11-28 09:00:00 Growing Creatively & Innovatively in 2024 Listen On: Key Takeaways: [0:58] What can credit unions do to best prepare themselves for 2024? [2:12] Although he sees a glimmer of hope, Jack points out that the liquidity crisis and slow prepayment speeds hamper rapid recovery. [5:22] We discuss how credit unions seek low loan growth through member-centric strategies such as second mortgages and home improvement lending. [7:34] Credit unions are leveraging advancing technology for member-focused engagement. [9:31] How will technology continue to evolve and affect credit unions? [11:43] What role does AI play in innovative growth? [14:14] Credit unions adopt technology for efficiency, enabling staff to focus on personalized member interactions, especially with younger generations. [17:14] Closing thoughts, emphasizing competition against banks and fintech for younger generations. Web NAFCU firstname.lastname@example.org America/New_York public
Get daily updates.
Subscribe to NAFCU today.