(Jan. 28, 2022) NASCUS’ annual Member Reception at the CUNA Government Affairs Conference (GAC) is scheduled for March 1, from 5-7 p.m.; it is for NASCUS members only (and a guest).
The reception will be held at Marriott Marquis Hotel, in the University of the District of Columbia Room. (The hotel is right across the street from the GAC venue at the Washington Convention Center). RSVP’s are due by Feb. 22.
LINK:
2022 NASCUS Member Reception information (including RSVP instructions)
(Jan. 21, 2022) A free, members-only webinar outlining the impact of the U.S. Supreme Court’s (SCOTUS) decision striking down vaccine mandates for large employers – but also upholding a mandate for health care workers — is being held today (Friday) beginning at noon ET. The hour-long program, which includes a question-and-answer session will provide (among other things): an overview of the court’s decision – including what it says, and what it doesn’t say; what the decision means for those organizations that have already announced vaccine mandates; the path forward for those organizations still interested in mandating vaccinations, and; the definition of “vaccinated.” Registration is required (by 10:30 a.m. ET); see the link below.
LINK:
NASCUS webinar: SCOTUS decision on workplace vaccine mandates (members only)
Ensuring the state charter remains competitive with not only the federal charter, but other depository charters and nondepository entities known as fintechs is a priority for new NASCUS President and CEO Brian Knight, he told trade newspaper American Banker this week.
In comments published Wednesday, Knight said restoring a healthy dual chartering system will lead to a balanced framework between state and federal credit unions. “All credit unions benefit from the healthy competition between charters to innovate and enhance the value of the charter,” he said.
He said NASCUS will advocate for regulation and supervision that enforces safety and soundness while also recognizing technological advancements in the financial services ecosystem.
Knight became NASCUS leader on Jan. 1, succeeding Lucy Ito who retired after seven years in the role. An attorney, Knight has served the state credit union system since 1998; he was most recently executive vice president and general counsel.
The NASCUS leader told the publication that a challenge for state-chartered credit unions is NCUA serves as both insurer and charterer for federal credit unions. He asserted that dual role can “muddy the distinction” between supervising safety and soundness and regulating a charter. That can lead to homogenization among the charters which, he said, weakens the overall credit union system.
That can be manifested, he told the publication, through federal examiners misapplying federal credit union rules to a state charter on an insurance review, which can lead to a form of unnecessary preemption of state authority, he said.
“A healthy dual chartering system is not possible when state innovation is overly constrained by federal preemption,” Knight said. “We need to carefully consider what NCUA rules applicable to state charters unduly preempt state authority and weaken the dual chartering system.”
In any event, the NASCUS leader said the state system’s relationship with NCUA has been on a “positive trajectory that has benefitted the entire system.” He said he anticipates that continuing in 2022.
LINK:
(Jan. 7, 2022) NASCUS will follow closely in 2022 its mission and purpose as adopted by association leadership in 2021, new NASCUS President and CEO Brian Knight said this week after assuming his role Jan. 1.
He succeeded Lucy Ito, who retired Dec. 31 after seven years of leading the association.
“Our leadership last July outlined the NASCUS mission as forming a vibrant dual charter system by promoting a relevant, growth-oriented and health state charter option,” Knight said. “It’s my intention that the association move in that direction with all deliberate speed, in the interests of the entire credit union system.”
Knight said the mission of the association would be advanced by adhering to the purpose of NASCUS, also adopted by the board last summer. That is: to advance credit union legislation, regulation and supervision and to promote a resilient state-chartered cooperative credit union system through regulator and credit union collaboration.
“NASCUS members will see these words repeated often in our presentations, on our website and in our other public-facing elements,” Knight said. “It’s my hope all of our members become intimately familiar with our mission and purpose – and hold us to it.”
(Dec. 23, 2021) Brian Knight is the next president and CEO of NASCUS, the association announced this week, effective Jan. 1. He succeeds Lucy Ito, who retires as of Dec. 31, after leading the association since 2014.
A 23-year staff member of the association, Knight’s most recent position is executive vice president and general counsel, a position he held since 2014. In 2007, he was named the association’s first internal general counsel; he joined the association in 1998 as director of regulatory affairs.
“NASCUS is a unique and vitally important thread in the fabric of the credit union system and the broader financial services sector,” Knight said. “I am honored and humbled to accept this position and build on the achievements of Lucy and those leaders that have come before me.”
Knight (right) said NASCUS helps to ensure that the credit union system is positioned to meet the challenges of the moment and of the future by supporting state regulatory agencies and working with dedicated credit union professionals to facilitate the cooperation and consultation essential for dynamic and viable credit union system.
“I know firsthand the commitment of our staff and members to our mission. I want to thank the NASCUS Regulator Board of Directors and Credit Union Advisory Council for this opportunity,” he added.
NASCUS Regulator Board of Directors Chair Rose Conner (who is administrator of the North Carolina Credit Union Division) said Knight is uniquely qualified to lead the organization. “The depth and breadth of his knowledge about the state and federal credit union systems, and his keen sense of emerging issues in the consumer financial services marketplace, has well-prepared him for this new role,” she said.
NASCUS Credit Union Advisory Council Chair Mike Williams (CEO of Colorado Credit Union in Denver) echoed Conner’s view. “I am confident that Brian’s leadership and vision are the combination we need to continue the organization’s success into 2022 and beyond,” he said.
Both Conner and Williams expressed their thanks to Ito for her leadership over the past seven years and wished her the best in her retirement.
Knight holds a B.A in history and political science from Hope College in Holland, Mich., and a J.D. from the Marshall Wythe School of Law of the College of William & Mary in Williamsburg, Va.
LINK:
NASCUS press release: Brian Knight Selected as NASCUS President and CEO
(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
(June 18, 2021) Two state credit union CEOS have been named to the NASCUS Credit Union Advisory Council by Council Chairman Mike Williams, one completing a three-year term of a retired member of the group, and the second to a one-year term on the panel. Amy Nelson, president and CEO of PointWest Credit Union in Portland, Oregon, was named to complete the three-year term of former council member Patty Idol, who retired from Mountain CU in Waynesville, N.C. Meanwhile, Amy Sink of Interra Credit Union in Goshen, Ind., was named to the one-year appointment, succeeding Jeff Dahlstrom of Southeast Financial CU in Nashville. Dahlstrom remains on the council: he agreed to complete the unfinished three-year term held by Jason Boeasch, who recently became CEO of Kay Electric Cooperative in Blackwell, Okla. Congratulations to both Amys, and Jeff – and thanks for your service.
(Feb. 19, 2021) Amanda Tuckey will lead NASCUS’ marketing and communications efforts when she joins the association next week as senior director of communications and marketing.
Most recently the director of marketing strategy and research for the Michigan Credit Union League (in Lansing), Tuckey brings broad experience to the state system’s representative association in such fields as campaign and brand management, marketing research, and consumer engagement.
A winner of the Diamond Award from the Credit Union Natl. Assn. (CUNA) for best brand awareness, and other honors, Tuckey is a former marketing director for the Michigan State Housing Development Authority and art director for the state’s Economic Development Corp. She has also managed her own marketing consulting firm.
She holds a BA in Psychology from Michigan State University and is currently completing work toward an MS in marketing research at the university.
“Through her work with the Michigan league, Amanda has developed a solid understanding of the credit union community, its challenges and its needs,” said NASCUS Leader Lucy Ito. “And her work with state agencies provided her with insight to the mechanics of local government. Combined with her accomplishments in marketing and communications, she is an outstanding addition to our team.”