June 13 – 14, 2023
The Exchange (A NASCUS Initiative) is an annual issues-driven event that brings state- and federally-chartered credit union CEOs with assets greater than $10B+ together with dynamic state system regulators to identify and discuss emerging issues and trends affecting dual charters and the financial services sector.
In an effort to foster further collaboration and develop innovative solutions, NCUA, federal regulatory agencies, and/or subject matter experts may be invited to participate in part of the discussion.
Location:
Westin Denver International Airport
8300 Peña Boulevard
Denver, CO 80249
The Westin Hotel is in the Jeppessen Terminal, adjacent to the Denver International Airport.
Event Registration:
The Exchange is by invitation only. Please contact Isaida Woo at [email protected] with any questions.
September 7 – 8, 2022
The Exchange (A NASCUS Initiative) is an annual issues-driven event that brings state- and federally-chartered credit union CEOs with assets greater than $10B+ together with dynamic state system regulators to identify and discuss emerging issues and trends affecting dual charters and the financial services sector.
In an effort to foster further collaboration and develop innovative solutions, NCUA, federal regulatory agencies, and/or subject matter experts may be invited to participate in part of the discussion.
Location:
Westin Denver International Airport
8300 Peña Boulevard
Denver, CO 80249
The Westin Hotel is in the Jeppessen Terminal, adjacent to the Denver International Airport.
Room rate: $259/night plus tax and applicable hotel fees.
For your convenience, NASCUS will make a room reservation for you.
- At check-in, you will need to present your credit card to pay for the room.
- Please send your ARRIVAL and DEPARTURE dates to Dr. Isaida Woo, Senior Vice President, Corporate Affairs and Education by August 10, 2022.
Event Registration:
The Exchange is by invitation only.
- There is no registration fee to participate.
- All meals will be provided by NASCUS.
Questions:
For further information, please contact Dr. Isaida Woo, Senior Vice President, Corporate Affairs and Education
Agenda
Wednesday, Sept. 7, 2022 : Location TBD
6:00 pm – 8:30 pm Reception & Networking Dinner
Thursday, Sept. 8, 2022 : Cottonwood Room
8:30 am – 9:00 am Networking Breakfast
9:00 am – 12:00 pm Collaboration and Discussion
10:00 am – 10:15 am Comfort Break
12:00 pm – 12:45 pm Working Lunch
12:45 pm – 3:00 pm Collaboration and Dialogue Continues
3:00 pm Closing Thoughts
(Clockwise from top left) Moderator George Hofheimer (Hofheimer Strategy Advisors), left, NASCUS President and CEO Lucy Ito and NASCUS EVP and General Counsel Brian Knight take in the Exchange discussion; Mike Williams, CEO of Colorado CU and chairman of the NASCUS Credit Union Advisory Council, enjoys the discourse; Participants are both face-to-face in Phoenix, and by virtual means.
(Nov. 5, 2021) Payment preferences, “buy-now-pay-later,” field of membership (FOM) barriers and more were all on the table at the meeting of CEOs of very large credit unions with state regulators held this week in Phoenix, sponsored by NASCUS.
The discussion was held at the two-day 2021 Exchange, an invitation-only event for regulators and leaders from credit unions with more than $10 billion in assets. The event is sponsored by NASCUS through the Dual Charter Resource Initiative (DCRI). The DCRI is a partnership, fostered by NASCUS, between the state system and key organizations within the credit union system at large. The program is committed to strengthening the state credit union charter by pursuing progressive legislation and regulation, building relationships to foster charter innovation, guarding against unnecessary federal pre-emption and expanding awareness of options available to state-chartered credit unions
Among the topics discussed by the participants were:
- Consumer behaviors with payment alternatives Venmo and PayPal and the growing tendency for Millennials and Gen Z to use their primary financial institutions as “paycheck motels” before transferring funds to a third-party payment app.
- Exploring alternative short-term loan options through “buy-now-pay-later” arrangements through payment alternatives that break payments into small installments to thwart high-interest short-term lending.
- Growing social acceptability of crypto currency as a primary payment method (particularly in Miami, Fla.) and associated risks.
- FOM barriers with digital banking and disruptions to traditional banking models.
Credit union CEOs participating included: Benson Porter, Boeing Employees’ Credit Union (BECU); Mike Ryan, Boeing Employees’ Credit Union (BECU); Mike Williams, Colorado Credit Union (and NASCUS Credit Union Advisory Council chairman); Mary McDuffie, Navy Federal Credit Union; Emily Troncoso, Navy Federal Credit Union; Bill Cheney, SchoolsFirst FCU; Gary Rodrigues, Star One Credit Union; and Brian Wolfburg, Vystar Credit Union.
State regulators participating were: Joni Kimbrell, California Department of Business Oversight; Ben Brinkley, Florida Office of Financial Regulation; Steve Pleger, Georgia Department of Banking & Finance (and NASCUS Regulator board member); Francisco Menchaca, Illinois Department of Financial & Professional Regulation; Charles Vice, Kentucky Department of Financial Institutions (and NASCUS Regulator board member); Melanie Hall, Montana Department of Administration; and Rose Conner, North Carolina Credit Union Division, (and NASCUS Regulator Board Chairman).
(Oct. 1, 2021) Payments systems, digital currencies, transition by large credit unions to specialized oversight by NCUA, the evolution of mortgage servicing in the wake of the Great Recession, and climate change were all topics for discussion between larger credit unions and state regulators at the first Credit Union and Regulator Engagement (CURE) event this week.
Sponsored by NASCUS and made possible, in part, by the Dual Charter Resource Initiative (DCRI), the inaugural CURE event brought together 28 credit union leaders, regulators and others from several states (including California, Iowa, Illinois, New York, North Carolina, Oregon, Washington and Wisconsin).
Participants attend by invitation only; leaders of state-chartered credit unions with assets of $4 billion – $10 billion are eligible to be invited.
Speakers at the inaugural CURE event included: Dr. Nina Chen, New York State Department of Financial Services director of sustainability and climate initiatives; Chuck Cross, CSBS SVP of nonbank supervision and enforcement section; Diana Dykstra California/Nevada Credit Union Leagues president and CEO; Dan Gonzalez, Federal Reserve Bank of Chicago vice president; Scott Hunt, director, NCUA Office of National Examinations and Supervision (ONES); Sharmynn Powell, Eastern Caribbean Central Bank chief risk officer; Meredith Ritchie, Alliant Credit Union SVP, general counsel and chief ethics and government affairs officer, and and Ken Schaafsma, Alliant Credit Union chief risk officer.
“The group was highly engaged in the topics at hand, as well as with each other,” said NASCUS’ Ito. “It was terrific to see differing points of view being brought to the table to better the industry.”
She said, for example, the group worked together to consider potential issues associated with climate change as a safety and soundness issue for credit unions. That included the very real threats of fires, floods, sea-level rise, and environmental catastrophes, and the effect of those events on future access to insurance and lending decisions. Also compelling, Ito said, were views expressed on the challenges of quantifying risk related to climate change, exercising proportionality in imposing reporting requirements on smaller financial institutions versus international banking entities, and reaching uniform standards between federal and state programs. “There was a common theme of ‘stronger together’ consistent with each discussion,” Ito said.
CURE is one of the initiatives sponsored by NASCUS and the DCRI, a partnership between the state system and key organizations within the credit union system at large committed to strengthening the state credit union charter by pursuing progressive legislation and regulation, building relationships to foster charter innovation, guarding against unnecessary federal pre-emption and expanding awareness of options available to state-chartered credit unions.
The next NASCUS/DCRI-sponsored event is the Exchange, Nov. 1-2 in Phoenix (an invitation-only event for regulators and leaders from credit unions with more than $10 billion in assets).
LINK:
NASCUS Launches Dual Charter Resource Initiative
(Sept. 24, 2021) Two key events from NASCUS aimed at supporting and building the credit union dual chartering system are coming up over the next several weeks, part of the association’s overall commitment to the state and federal oversight of the credit union system.
Both events, part of NASCUS’ Dual Charter Resource Initiative (DCRI), are by invitation only.
The Credit Union and Regulator Engagement (CURE) is set for next week (Sept. 29-30). A virtual event, it brings together leaders from credit unions with between $4 billion to $10 billion with state regulators from across the country to focus on topics now affecting the credit union system. Among the topics on the agenda are: central bank digital currencies (CBDCs), climate change considerations for the credit union system, the evolution of the mortgage market from the Great Recession (beginning in 2007) to the current COVID-19 era, and the regulatory and supervisory transitions credit unions face as they cross the $10 billion threshold that defines supervision under NCUA’s Office of National Examinations and Supervision (ONES).
The second event, the Exchange, is set for Nov. 1-2, and will be held in Phoenix at the Crowne Plaza hotel. Invitees are leaders of credit unions with more than $10 billion in assets, as well as state regulators. The agenda includes discussion about growing cybersecurity and ransomware risks, interstate operations, and threats to the state and federal credit union charter as the charter of choice amid new entrants in the U.S. payments system, including BigTech and fintechs.
The DCRI is a sponsorship opportunity for those who value a vibrant and robust dual charter system. DCRI sponsors engage with the initiative through a series of financial contributions and select events. Support is solicited on three levels, Champions, Leaders, and Partners. For more information, including on invitations, see the links below.
LINKS:
Credit Union & Regulator Engagement (CURE) Virtual Event
“The EXCHANGE”
The Exchange is an exclusive meeting that convenes annually for CEOs of federal and state credit unions with assets of more than $10 billion and regulators from states with the most progressive state credit union charters to illuminate emerging issues and trends that threaten the credit union charter’s status as the “charter of choice” whether for state or federal credit unions. The event is a cornerstone of NASCUS’ mission to support the long-term sustainability of the credit union dual charter framework.
This event is by invitation only. Please email Alicia Valencia Erb, Vice President-Member Relations, for more information.
