Nevada Story Archive
Harper touches on overdraft in prepared remarks at REACH
October 27, 2023 — As NCUA Board Chair Todd Harper touched on overdraft and non-sufficient funds (NSF) products during his speech at the California and Nevada Credit Union Leagues’ REACH 2023 conference, the Leagues are reminding credit union leaders that his remarks were prepared beforehand — which is not unusual for the chairman’s public appearances.
It’s important to note that Harper’s opinions and comments during his speech are entirely his own and do not necessarily reflect the official position of the Leagues.
A large focus of his prepared remarks centered on overdraft and NSF fees. He referenced credit unions’ mission to help member-household finances, overdraft/NSF fees falling disproportionately on underserved communities, some credit unions’ “overreliance” on overdraft/NSF fees, concentration and risk issues, banks’ restructuring of overdraft/NSF fee products, and large credit unions’ activity in this space compared to banks.
Greater Nevada Credit Union promotes CXO to CEO
He replaces Wally Murray, who retired in March after working for Greater Nevada — the largest credit union in the state — for 35 years.
“Danny’s innovative mindset, industry expertise and proven track record make him the perfect candidate to guide GNCU into the future,” said GNCU Chairman Rob Joiner in a press release Tuesday. Read more
California & Nevada Leagues to Launch First-Ever Juntos Avanzamos Chapter
Dec. 23, 2022 — Inclusiv Network said it has partnered with the National Association of Latino Credit Union and Professionals (NLCUP) and the California and Nevada Leagues to launch the first-ever Juntos Avanzamos-NLCUP Regional Chapter in California. The “Together We Advance” initiative is designed for credit union industry professionals who are committed to financial inclusion to remove barriers and enact real change for unbanked and underbanked communities, the organizations said. Daniel West, vice president of social impact for the Leagues, said the establishment of Juntos Avanzamos-NLCUP Regional Chapters will help leverage the collective voice of credit unions to implement real change in the way Hispanic and Latino communities access and stay connected to the U.S. banking system, the organizations said. Read More
Silver State Credit Union Announces 37th Annual 2023 Happy Times Calendar Awards Ceremony
Dec. 9, 2022 —Silver State Schools Credit Union (SSSCU), a Las Vegas based financial institution, serving its members since 1951, is set to showcase 13 talented students, Kindergarten through 12th grade, for their winning submissions to the Happy Times 2023 Calendar. This marks the 37th Anniversary of the annual SSSCU calendar.
Students from across Southern Nevada were asked to create art that makes them happy, with one winner selected from each grade K-12th, to be featured in the Silver State Schools CU People Over Profit (POP) Foundation and the Silver State Schools Credit Union annual calendar. Over time, submissions have averaged about 2,000 entries annually. This year, we surpassed that average, and for the first time, SSSCU received over 3,000 pieces of art!
Members of Las Vegas CU Give the Thumbs UP to Merger
Courtesy of CUToday.info
Sept. 29, 2022 — Members of Las Vegas UP Employees FCU have voted in favor of merging into WestStar Credit Union.
The $4.2-million LVUPEFCU has approximately 759 members. The $265.3-million WestStar has approximately 21,000 members. CUToday.info had coverage of Las Vegas UP EFCU’s statement to members regarding its merger plans here.
In a statement, the credit union cited the increased access to expanded products, services, and technology as the reasons for the decision to merge.
Since being established in 1952, Las Vegas UP Employees Federal Credit Union has served the Union Pacific railroad workers of the Las Vegas area.
“I am looking forward to the benefits, products and services this merger with WestStar Credit Union will bring to the LVUP membership,” said Nektaria Felecos, manager of LV UP.
Employees to be Retained
The three employees of Las Vegas UP Employees FCU will become employees of WestStar Credit Union upon the effective date of the merger, Nov. 30.
WestStar Credit Union is open to anyone employed in the gaming Industry of Nevada and many other employer groups, including employees and members of AAA Nevada.
One Nevada Raising Funds for Habitat for Humanity at the Great Reno Balloon Race
Sept. 8, 2022 — One Nevada Credit Union invites the community to help build a collaborative art display as a fundraiser for Truckee Meadows Habitat for Humanity at the Great Reno Balloon Race from Friday, September 9 through Sunday, September 11.
Visit the One Nevada sponsorship booth at the balloon races to decorate a balloon for the collaborative community art display. One Nevada will donate $1 to Truckee Meadows Habitat for Humanity for every balloon decorated.
Truckee Meadows Habitat for Humanity is part of a global, nonprofit housing organization that focuses on building homes, communities, and hope. The organization is dedicated to eliminating substandard housing locally and worldwide through constructing, rehabilitating, and preserving homes, advocating for fair and just housing policies, and by providing training and resources to help families. For more information about Truckee Meadows Habitat for Humanity, visit habitatforhumanityreno.org.
CA and NV Leagues Pledge $100k Toward Ukraine Relief Efforts
L-R: SAFE CU CEO Dave Roughton, chairman of the California Credit Union League; and Clark County CU CEO Matt Kershaw, chairman of the Nevada Credit Union League
March 18, 2022 — In the spirit of making a difference during a time of global tragedy, the California and Nevada Credit Union Leagues has pledged $100,000 toward Ukrainian financial relief efforts to help sustain credit union employees and members who are most in need as the current crisis unravels across that country.
“From thousands of miles away, we stand with our movement and remain committed to supporting Ukraine’s humanitarian plight as local credit unions, staff and members are besieged by a lack of food, water, housing, and other supplies and operational resources,” said Diana Dykstra, president and CEO of the Leagues. “Our trade association’s daily mission to help credit unions change people’s lives is emboldened during times like these, no matter where the devastation is taking place and help is needed.”
The Leagues’ contribution to the Ukrainian Credit Union Displacement Fund will directly support mitigation of both short and long-term impacts to Ukraine’s credit union system, including displaced credit union employees, members, and challenges to the country’s credit union system over the long term. The California Credit Union League pledged $75,000 and the Nevada Credit Union League pledged $25,000.
The credit union system — including state leagues, industry partners, and locally headquartered credit unions across both states and the nation — has a long history of working together to support communities during disasters at home and abroad. Brought on by war, the current emergency in Ukraine is no different as it affects residents, workers and their families through hardship and isolation.
WestStar Credit Union CEO Announces Retirement
April 2022 – WestStar Credit Union, a Las Vegas based credit union, announced that Rick Schmidt, the credit union’s President and CEO, has decided to retire effective January 2, 2023. The credit union is currently starting the search process for a new CEO by partnering with Humanidei + O’Rourke.
Schmidt has served in his current role since April 2010. Prior to coming to WestStar, he had over 30 years of experience in the financial services industry, including 28 years with credit unions.
During Mr. Schmidt’s tenure as CEO, he played a critical role in helping the credit union survive the great Recession, thrive in the years in between, and helped WestStar’s unique membership base endure through the pandemic. In the process, he served in various roles within the credit union industry such as Chairman of the Nevada Credit Union League Board of Directors, Chair of the Credit Union Advisory Council for the CFPB, and received the Nevada PAC Advocate of the Year award on two different occasions, as well as the Distinguished Service Award from the Nevada Credit Union League.
“I know it wasn’t an easy decision,” says Craig Hawkins, Board Chairman of WestStar Credit Union about Schmidt. “WestStar Credit Union has been his pride and joy…the new CEO will be filling some big shoes”
WestStar Credit Union serves 21,000 members in the state of Nevada and currently has $260M in assets.
State Leagues Focus on Strengthening CU System & Members
December 10, 2021 — The California and Nevada Credit Union Leagues and fellow state leagues recently came together in Arizona for the American Association of Credit Union Leagues’ (AACUL) winter conference — a yearly gathering focused on advancing the movement and collaborating in support of credit unions and their members nationwide.
Key discussions during this year’s conference focused on advocacy, consumer awareness, innovation, and financial inclusion throughout the industry. As credit unions in California, Nevada and other states prepare for 2022, the past year’s experiences provided a valuable forum for leagues and system leaders to share ideas, discuss emerging trends, strategize on political issues, and cooperate to further strengthen the credit union system.
In attendance at this year’s conference — and representing California and Nevada — were the Leagues very own President and CEO Diana Dykstra and Senior Vice President of Member Solutions Larry Palochik.
Economy Comes a Long Way but Still Working Through Issues
August 30, 2021 — The greater regions of Southern Nevada and Northern Nevada are important to the entire state’s broader economic recovery as the COVID-19 pandemic continues impacting workers, households, and consumers who are integrating back into society and commerce.
That’s according to the most recent forecasts, research articles, reports, and other data and analysis presented or released by various local experts over the past couple of months. Their opinions spotlight intriguing viewpoints, trends and projections so your credit union can plan appropriately:
Southern Nevada
Local experts, organizations, and consultant firms:
Las Vegas Global Economic Alliance (41st Annual Las Vegas Perspective conference):
- The “What Comes Next?” economic forecast presentation by Applied Analysis.
- The “Free-Falling Versus Control” presentation by The Future Hunters.
- The “Arrival of a Rebel Cavalry: Innovating Our Way Out in Las Vegas” presentation by the University of Nevada-Las Vegas’ (UNLV) Economic Development Office.
- Latest monthly “Economic Snapshot,” ongoing data portal (regional overview, economic summary, and location comparison), and all newsletters. Keep checking for an upcoming “Employment Review” to be posted in the future.
- The “Vision 2025: Comprehensive Economic Development Strategy for Southern Nevada” report.
- The “Target Industry Validation Study: Revisiting Southern Nevada’s Approach to Economic Diversification” report.
NV SEN. HOSTS JOB FAIR; PPP BILL HEADS TO PRESIDENT’S DESK
March 26, 202 1 — This week, Sen. Catherine Cortez Masto (D-NV) co-hosted Nevada’s Virtual Job Fair to help get local workers back to work. The senator hosted the event with Rep. Susie Lee (D-NV), Washoe County Commissioner Alexis Hill, Clark County Commissioner Justin Jones, and leaders from local employment training and workforce connection departments and organizations.
Furloughed and unemployed Nevadans had the opportunity to meet and interview directly with more than 50 employers.
The recently passed American Rescue Plan Act includes numerous provisions Senator Cortez Masto advocated for to help employers looking to hire new workers. These include an extension and expansion of the Employee Retention Tax Credit, an extension and expansion of additional tax credits to provide emergency paid sick and family leave to employees impacted by COVID-19, and $10 billion to reauthorize the State Small Business Credit Initiative for flexible and affordable capital to small businesses.
PPP Bill Heads to President’s Desk
Yesterday the U.S. Senate passed H.R. 1799 by an overwhelming majority, which will extend the Paycheck Protection Program (PPP) through the end of June. The bill now goes to President Joe Biden — and given the strong bipartisan vote count and popularity of the program, all indications point to this legislation becoming law.
H.R. 1799 was authored by Rep. Young Kim (R-CA). Credit unions greatly appreciate her efforts to pass this legislation in her first three months of office. Additionally, credit union leaders have urged lawmakers to extend the PPP deadline, citing concerns about ongoing changes to the program and delays in processing applications for loan forgiveness. The U.S. Small Business Administration (SBA) currently has until March 31 to approve funding for PPP loans and grants.
H.R. 1799 would extend the program’s funding authorization through June 30 and require the SBA to spend those final 30 days closing out applications that were submitted before June 1. Although the bill does not come with additional funding, a sizable amount was already added under the American Rescue Plan Act that became law earlier this month.
One Nevada Credit Union Named #1 Bank/Credit Union in Las Vegas Two Years in a Row
April 21, 2015 – Las Vegas, Nev. – One Nevada Credit Union is proud to announce they were named #1 Bank/Credit Union in Las Vegas, in the annual Best of Las Vegas readers’ poll conducted by the Las Vegas Review Journal. This is One Nevada’s second year in a row taking first place in its category.
BSA Conference Encourages Networking, Education on BSA Compliance Issues
October 28, 2014 – Las Vegas, Nev. – The CUNA Bank Secrecy Act Conference, in partnership with NASCUS, is being held this week in Las Vegas, Nev.
Greater Nevada Credit Union Names New Branch Manager
June 3, 2014 – Reno, Nev. – Andrea Ruvalcaba has been hired as branch manager of Greater Nevada Credit Union’s northwest Reno location in Ridgeview Plaza on the corner of North McCarran Boulevard and Mae Anne Avenue.
Nevada CU Leaders Meet with Governor
May 23, 2014 – Nevada credit union leaders recently met with Gov. Brian Sandoval in Las Vegas and discussed improvements to the state’s economy, as well as how credit unions are working in their respective communities to assist members.
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