Around the States

July 26, 2024 Stories | Click here to read all recent news stories

Michigan Cannabis Regulatory Agency Asks for Clearer Guidance on Marijuana Changes
Michigan’s Cannabis Regulatory Agency on Monday laid out how the Drug Enforcement Administration’s plan to change the classification of marijuana from a Schedule I to a Schedule III drug could benefit Michigan consumers and cannabis companies, from potentially allowing businesses to file for bankruptcy to offering consumers products that meet uniform safety standards.

Credit Union’s Internal Investigation Leads to Employee Grand Theft Charge
Macey Wymore, who allegedly stole more than $63,000 from Idaho Central CU, is expected to appear in court in August. According to a police probable cause affidavit, a former employee who allegedly stole more than $63,000 from the $11 billion Idaho Central Credit Union (ICCU) in Chubbuck planned to steal an additional $23,000 but returned it after learning of an unexpected audit.

WCUC24: How AI Will Make Credit Union Examiner Meetings More Efficient…
Brett Wooden, FI Software Strategiest at Buildable, and Miles Oliveira, Sales Director at Buildable, stopped by the show to share how AI can help, among a myriad of things, credit union examiner meetings become incredibly more efficient for both the credit union and the examiner.

Credit Union Helps Members Expand Solar Energy
A Montana credit union is offering members a way to help expand the clean energy network in their area even if they don’t own the roof over their head to place a solar panel. Clearwater Federal Credit Union of Missoula, Mont. ($1.1 billion in assets, 60,922 members) on July 18 began offering a Clean Energy Certificate of Deposit.


State Benefit Guides Completed To Date

As one of the Dual Charter Resources Initiative (DCRI) projects, NASCUS, in coordination with the state regulators and leagues, began creating a reference guide outlining the intricacies and benefits of each state’s regulatory environment and charter compared to the federal charter. These reference guides provide a broad 360-degree view of the relevant state charter, state regulator, and links to important statutory and regulatory citations necessary to understand the regulatory landscape…

Click here to view the list and access all completed PDFs.


State System Stats: Q1 2024

Q1 2024 State-Chartered CUs Federally-Chartered CUs Total CUs % of State-Chartered CUs
Assets $1.171 T $1.158 T $2.329 T 50.27%
Credit Unions 1,808 2,862 4670 38.72%
Members 67.4 M 74.3 M 141.7M 47.58%

State System Stats: Q4 2023

Q4 2023 State-Chartered CUs Federally-Chartered CUs Total CUs % of State-Chartered CUs
Assets $1.147 T $1.131 T $2.278 T 50.34%
Credit Unions 1,822 2,880 4702 38.75%
Members 66.9 M 73.7 M 140.6M 47.61%