Kansas credit union legislation enacted
April 17, 2019 — Last week, legislation modernizing the Kansas Credit Union Act was signed by Governor Laura Kelly after passing both the House and Senate. The Heartland Credit Union Association spearheaded the bill, which makes 67 changes to the state statutes to brings Kansas law up-to-date and continue to protect the locally operated, not-for-profit structure of credit unions. Key aspects of the bill include:
- Technical corrections of the credit union statutes to bring them in line with other statutes and federal law, and remove outdated requirements;
- Removal of language that duplicates what is already spelled out in a credit union’s bylaws to protect local control and flexibility.
- Modernizing consumer notification requirements by giving members the option to receive electronic notifications rather than mailed notifications.
- Protects Kansans from financial fraud by limiting use of the term “credit union.”
The changes go into effect July 1.
Credit Unions Kick Off Annual Giveaway Program
May 7, 2015 – Area credit unions will be giving away $25 gift cards starting at 11 a.m. Thursdsay, May 7, at the Kwik Shop in Derby as part of the Kansas Credit Union Association’s Make a Difference statewide event.
Kansas Gov. Sam Brownback Announces Credit Union Administrator Appointee
July 29, 2014 – Kansas Gov. Sam Brownback’s office announced that former credit union regulator Jerel Wright will replace John Smith as administrator of the Kansas Department of Credit Unions. Wright previously held the position from 1998-2005.
FBI Probes $10 Million Embezzlement at Parsons Pittsburg CU
May 19, 2014 – Wichita, Kan. – Could $10 million in missing deposits have caused the liquidation of Parsons Pittsburg CU here? An FBI investigation into the failed credit union has revealed teh deposits could have been taken by a fired employee blieved to have gambled with the credit union’s money, the Associated Press reported. (Thew news service is not identifying the ex-worker because no criminal charges have been filed.)
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