July 29, 2020 — Idaho Central Credit Union is proud to be the largest premier credit union in Idaho. With the recent expansion into Washington, we are excited to create more jobs, improve communities, support nonprofits, and help our members to achieve financial success in this new region!
ICCU originally began serving Washington members by working with dealerships to provide automobile loans through indirect lending. With our seven branches and 134 team members working in North Idaho, it became a natural progression to come over the border into Washington. Once our Washington membership began increasing, it became necessary to have physical branches in this region to be able to better serve our members’ financial needs.
Idaho Central opened our 46th branch located at 41 West Riverside in downtown Spokane in May of 2022. We have plans for three more branches in the Spokane area within the next few years and are always looking for the right talent to come on board the Green Team! We have created 20 new positions for our Riverside branch and are looking for many more individuals with the right attitude and a love for their community to apply.
One of the things that stands out about Idaho Central and our team members is the desire to improve the communities where we live and work. Team members are encouraged to complete service projects as individuals and with their teams. Our teams are passionate about the arts, academics, athletics, and of course, financial education! We have enjoyed finding new schools, charities, and organizations in the Spokane area to support through donations, education programs, and participation at events. ICCU has been ranked #1 in the Northwest for member giveback and we are always looking for ways to invest in our communities.
ICCU recently purchased the naming rights for the performing arts center in Spokane Valley. The nonprofit arts center will be a 590,000-square-foot facility that will house a main stage theatre, a studio theater, an acting youth conservatory, and a third-floor event space. Idaho Central is looking to grow our footprint in Eastern Washington and found a great opportunity in this amazing legacy project that will bring fine arts to the community.
While Idaho Central prioritizes social responsibility, we are also focused on providing world-class service to our members. Idaho Central is leading the way in digital banking with our convenient mobile app and eBranch services available 24/7. With cutting-edge technology such as being able to buy, hold, and sell bitcoin directly from the ICCU app, we are constantly looking for new ways to help our members to achieve financial success. However, we still recognize the importance of having physical locations to visit for certain financial transactions! The culture at ICCU is unmatched and we love connecting with our members on a personal level, whether that’s a smile through VideoChat, asking about your day on the phone, or greeting you by name when you walk into a branch!
Courtesy of BigCountryNewsConnection.com
April 29, 2020 — The Idaho Department of Finance has issued a warning about a series of fraudulent cryptocurrency schemes seen recently targeting Idaho investors. The companies purport to provide high returns with no risks to the investor.
These fraudulent schemes are operating under theses names and websites:
- Crypto FX Direct d/b/a www.cryptofxdirect.com (CFXD)
- Shield Investors LTD d/b/a www.shieldinvestors.com (Shield)
- Quartz FX Trade d/b/a www.quartzfxtrade.com
- FinVest Trading d/b/a https://finvesttrading.com
These scams advertise operation of online cryptocurrency investment companies. However, in reality they are offering and selling fraudulent securities to Idaho investors.
These websites make outrageous, demonstrably false statements and claims such as guaranteed returns on investment as high as 65% – 80% every 24 hours. They offer profitable investments with any plan, and purport the more invested, the greater the return. Idaho investors were provided with phony credentials by the company’s investment advisor intended to support the legitimacy of the investment advisor as well as the companies they represent.
Idaho investors were asked to pay the investment advisor with cryptocurrency for a trading plan offered on the site. At the end of the agreed trading period the investment advisor would contact the investor and notify them they made a substantial return on their investment. In order to receive their investment returns, they had to pay for a fee which could not be taken from their trading profits. When the investor provided the trading fee, they were advised additional fees or penalties would be assessed which must be paid before they could receive their payment.
None of these entities are registered to sell securities in Idaho nor have they filed with the Idaho Secretary of State to conduct business in the Idaho.
The Department of Finance reminds Idahoans that persons and firms offering investments are required to be registered in Idaho. You may check the status of any investment professional, and the firms they represent by:
- Contacting the Department for information regarding registration, background, and educational requirements of an investment professional and their firm.
- Contacting the Idaho Secretary of State to determine if the company is registered to conduct business in Idaho.
- Researching the business address provided on their website to determine if it is a reasonable location for business.
October 12, 2021 — During the Enchanted Northwest Gala Oct. 6, Northwest credit unions turned out in force to raise funds for the Movement’s charity of choice.
Attendees of the Northwest Credit Union Association’s Enchanted Northwest Gala and Auction at MAXX 2021 last week did a long-time fundraising tradition proud. They wore out their arms raising their bidding paddles again and again for Credit Unions for Kids, a now-national charity founded decades ago in the Northwest.
As a result, eight Children’s Miracle Network hospitals will have more funds to support research, medical equipment, and life-saving care for young patients and their families. Bidding on deluxe getaways to wine country inns, world-renowned resorts, and electric cars to be donated to each of the hospitals, contributors raised $1,001,720 – all in a single night.
A Steer Named Karen and a Horse Named Cat
Brinley Oldham, the event’s “Miracle Child,” surely inspired higher bidding with the story of how her life was saved by the team at the St. Luke’s Pediatric Trauma Center in Boise. Brinley was unable to attend the Enchanted Northwest Gala in person, but video produced by the hospital detailed a horrific day in 2019, when Brinley, then 9, was helping her family brand the herd on their remote Idaho ranch. She was trampled by a cow and severely injured. Fortunately, the trauma center had opened just 12 days before, and the well-practiced medical team saved her life from an accident where “five minutes more” could have made a drastic difference.
In a video conversation with Kent Oram, CEO at Idaho Central Credit Union, Brinley shared that the steer she showed at 4-H this year, was named “Karen.” And the horse she has mastered riding? Its name is “Cat.” That exchange brought laughs. Brinley’s career choice also won applause.
August 3, 2021 — It’s official — 10 passionate credit union Young Professionals are headed to MAXX this fall, and they couldn’t be more excited. After careful consideration, the 2021 cohort was selected by a scoring committee made up of past YP leads. This year, the program had 21 applicants representing 15 credit unions across the Northwest.
“Thank you to all of the outstanding candidates who applied this year — your passion and enthusiasm for credit unions is absolutely inspiring,” said Mark Gonzalez, Sr. Manager, Member Engagement at NWCUA. “You truly are the future of the Credit Union Movement.”
Launched in 2017, the Northwest Young Professionals Network provides select credit union employees with complimentary registration to Northwest Credit Union Association’s annual MAXX Convention, where they join a growing network of future credit union leaders.
MAXX 2021 will take place in Boise, Oct. 5-7, and it’s slated to be an unforgettable reunion for the Northwest credit union community. The YP Leads cohort will have the opportunity to attend general and breakout sessions, network with their peers across the region, assist with special events, and learn how they can help propel the Credit Union Movement forward.
July 15, 2021 – The National Association of State Credit Union Supervisors (NASCUS) is proud to announce Idaho has earned Re-Accreditation following a series of in-depth reviews and assessments by a panel of veteran state supervisors.
More than 88% of the $989 billion in state-chartered credit union assets are supervised by NASCUS’ 28 accredited state agencies.
“Accreditation is direct evidence of an agency’s capabilities and benefits all credit unions in the state as well,” said NASCUS President and CEO Lucy Ito. “It recognizes the professionalism of a state agency’s regulators, supervisors, and staff, while potentially delivering an impetus and support for legislation to modernize state law and policy changes to advance state supervisory processes and best practices.”
“The value of NASCUS accreditation to the Idaho Department of Finance’s credit union examination team and overall department operational and human resources policies cannot be overstated,” stated Idaho Director Patricia Perkins. “It is vitally important that our stakeholders have confidence that we are held to the highest standards nationally and continue to meet those standards in subsequent reaccreditation exercises.
NASCUS accreditation is a robust process that includes disciplined self-evaluation, peer review, and ongoing monitoring. The process, administered by the NASCUS Performance Standards Committee (PSC), measures a state regulatory agency’s ability and resources to carry out its regulatory and supervisory programs effectively.
To earn Accreditation, a credit union state supervisory agency must demonstrate that it meets accreditation standards in agency administration and finance, personnel and training, examination, supervision, and legislative powers.
NASCUS adopted the Accreditation Program in 1989 to administer and assure states’ credit union examination and supervision quality standards. This program, modeled on the university accreditation concept, applies national performance standards to a state’s credit union regulatory program.
Northwest Credit Union Association Releases Economic, Community Impact Report
Landmark study documents $11 billion impact, volunteerism and charitable contributions and extraordinary services by credit unions throughout the COVID-19 pandemic.
March 23, 2021 — Credit union advocates in Idaho, Oregon and Washington have new, data-rich tools to support their advocacy and public awareness work this year. The Northwest Credit Union Association (NWCUA) is providing its member credit unions with a suite of resources documenting credit unions’ economic and community impact. The community data was collected in NWCUA’s Community Impact Reporting Tool (CIRT), which was created by the association to document credit unions’ focus on financial well-being, volunteerism and charitable contributions, and special lending to rural communities, first-time homebuyers and other populations that not-for-profit cooperative credit unions are uniquely positioned to serve. The impressive economic impact report was prepared by ECONorthwest, one of the region’s most respected economic firms.
In addition to data, the NWCUA is providing its members with communications collateral such as infographics, social media posts and a library of member stories, so they can customize and share the impact in their own communities.
“The economic and community impact reports document how credit unions collectively generate and deliver real, tangible value to members and communities,” said Troy Stang, NWCUA President and CEO. “Our strategic priority, in creating the Community Impact Reporting Tool, and in commissioning the economic study, is to position credit unions to help the public and policymakers understand exactly how credit unions’ not-for-profit, cooperative structure enables them to drive such impact.”
ECONorthwest has provided independent and relevant analysis to a diverse range of public agencies and private sector industries since 1974. In 2013, ECONorthwest’s groundbreaking study, The Myth of the Uneven Playing Field, analyzed bank and credit union data from 1948 to 2012, debunking bank claims that state and federal tax policies offered credit unions unfair competitive advantages over for-profit financial institutions. The firm’s new economic impact analysis continues to support the positive impact that credit unions’ state and federal income tax exemptions have on consumers, communities and on each state’s economy.
ECONorthwest’s most recent study measured the jobs, economic output and income supported by Northwest credit unions, as well as the impact of the direct benefits credit unions are able to deliver to their members because of their unique structure. The analysis also documented Northwest credit unions’ services to members and communities from the onset of the pandemic through June 2020.
Idaho Lawmakers Consider Credit Union Legislation
February 27, 2020 — An update to the Idaho Credit Union Act, HB 473, is progressing the in the State House. The legislation would permit the Director of Credit Unions to issue enforcement actions directly to a credit union, provide for confidentiality of examination reports and other confidential information, and authorize credit unions to act as a custodian or fiduciary for tax-advantaged savings plans.
Earlier this week, the legislation was reported out of the Business Committee and retained on General Orders to be heard by the entire House.