By The Way

The By The Way newsletter is a great way to keep Kentucky credit unions informed of the latest updates in governmental affairs, compliance and regulations, education and training.  In addition, By the Way highlights the difference credit unions are making on a daily basis.

League News

CUNA Announcements

Education Opportunities

Featured Article

Credit Union News

Compliance Updates


2017 September Hike the Hill

Twenty-one credit union representatives traveled to Washington, DC on September 12 – 15 for the League’s annual Hike the Hill.  The event started with a meeting with the Consumer Financial Bureau (CFPB).  Topics of discussion included HMDA and Small Business Lending Data Collection.  The group then met with CUNA staff to get a legislative and regulatory briefing.  The group also had the opportunity to meet with seven out of eight of our Congressional delegation where tax reform, regulatory relief and data security were the focus.  The event concluded with a meeting with Larry Fazzio, Director of Examination and Supervision/NCUA.  Cybersecurity continues to be one of the major concerns for credit unions and the federal regulator.  Below are highlights from the event.

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2017 Hike the Hill 1



Emerging Leaders Emerge on the Capitol

On Wednesday, September 6th, members of the 2017 Emerging Leaders Class met at the Capitol for a day of history, civics, and political advocacy.  The group had the opportunity to hear from State Treasurer Allison Ball who spoke on the importance of financial literacy and promoting savings across the state.  The class also heard from House Majority Floor Leader Jonathan Shell, The Rotunda Group’s Mike Biagi, Sean Donaldson with the Legislative Research Commission, Tyler White former District Director with Congressman Andy Barr, and the Department of Financial Institution’s Commissioner Charles Vice.  Below are highlights from the day.
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2017 Emerging Leaders in Frankfort

State Advocacy at Work

In September, Park Community Credit Union hosted two “Meet and Greet” legislative receptions.  Pictured below is Senator Jared Carpenter, Vice Chairman of the Senate Banking Committee, at Park Community Credit Union’s Berea Branch.  Also pictured below is Senator Dan Seum, Senate Majority Caucus Chairman and member of the Senate Banking and Insurance Committee.  Both meetings allowed credit union representatives to discuss credit union issues such as tax reform, regulatory relief and how credit unions are serving their members and communities.

State Advocacy at Work

Annual Meeting Recap

Thank you to all of the attendees, sponsors, exhibitors, and special guests who made the 83rd Annual Meeting and Convention a success!  This year's event brought in 135 attendees from 34 credit unions and showcased 42 vendors in the Exhibit Hall.

Please save the date for the 84th Annual Meeting & Convention on October 10-12, 2018 at the Louisville Marriott Downtown.

Golf Scramble

The golf outing was held at Valley View Golf Club in Floyds Knobs, IN.  It was a chilly day but we had a great tournament nonetheless.  In addition, we also used this opportunity to give back. 

Thank you to all of our players who helped us raise $526 for hurricane relief!

Golf Scramble Results:

1st place golf

(l-r) Jeff Crockett (TNT Erectors), Richie Berry (TNT Erectors)

2nd place golf

(l-r) Danny Bruce (Your Hometown Federal CU), Nancy Towery (Your Hometown Federal CU), Dale Towery (Your Hometown Federal CU), Darrick Herndon (Your Hometown Federal CU)

3rd place golf

(l-r) Ron Haseker (Beacon Community CU), Tom White (3SI Security), Josh Landers (3SI Security), Penny Haseker (Beacon Community CU)

Other Categories:

Men’s Longest Drive
Darrick Herndon, Your Hometown Federal CU

Lady’s Longest Drive 
Maddie Ferrie, Ft. Knox Federal CU

Longest Putt
Brad Hudson, UK Federal CU

Closest to Pin
Richie Berry, TNT Erectors



Awards Banquet

CUNA Awards

Dora Maxwell Social Responsibility Community Service Award Winners

$50 - $250 Million Asset

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Holly Smith accepts award for
Cove Federal CU

$250 M - $1 Billion Asset

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David Shadburne accepts award for
Park Community CU

More than $1 Billion Plus Asset

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Patty Smith accepts award for
Commonwealth CU

Dora Maxwell Social Responsibility Community Service Award Honorable Mention

$50 - $250 Million Asset

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Jay Douds accepts award for
Kentucky Employees CU

Louise Herring Philosophy in Action Member Service Award Winners

$50 - $250 Million Asset

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Garth Griese accepts award for 
Service One CU 

$250 M - $1 Billion Asset

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David Shadburne accepts award for
Park Community CU 

More than $1 Billion Plus Asset

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Marvin Hawke accepts award for
Fort Knox Federal CU

 Dejardins Youth Award

$250 M - $1 Billion Asset

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David Shadburne accepts award for
Park Community CU 

 Dejardins Adult Award

$250 M - $1 Billion Asset

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David Shadburne accepts award for
Park Community CU 

More than $1 Billion Plus Asset

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Lindsay Orange accepts award for
Commonwealth CU 

 Chapter Awards

CU in Attendance

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Josh Williams accepts award for
Louisville Chapter 

Most Effective Chapter

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Myron Moore accepts award for
Blue Grass Chapter

Kentucky Recognition Awards

Richard Zimmerman Outstanding Young Credit Union Leader Memorial Award

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Raffo Wimsett, Commonwealth CU 

Frank Moore Outstanding Professional Award

DSC 0463Josh Williams, Transcend CU

 Steve Brody Outstanding Volunteer Award

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Rusty White, Members Choice CU

 Distinguished Service Award

DSC 0466John Graham, Kentucky Employees CU
Steve Sharp, Owensboro Federal CU (not pictured)

 Service Award

Larry Bischoff, Rural Cooperatives CU






Wayne R. Woodward Philosophy in Action Award

DSC 0465Park Community CU Employees



Governmental Affairs Breakfast

The final day of the Annual Meeting & Convention kicked off with a governmental affairs breakfast. We had a wonderful speaker lineup with State Treasurer Allison Ball, Commissioner Charles Vice, and former NCUA Chairman Dennis Dollar.

Governmental Affairs 2017



Emerging Leaders Ceremony

We are proud to sponsor the Emerging Leaders Program — a program designed to bring up-and-coming credit union professionals to the next level and prepare them for leadership roles within the credit union movement.

The 2017 Emerging Leaders Program began in February with participants from eight credit unions. Participants attended (4) one-day sessions on topics specifically geared towards credit union history and philosophy, financials, professionalism and leadership, and political advocacy.  In addition, participants contributed to a service learning project that combined leadership skills with corporate responsibility and presented their final projects during breakout sessions at the Annual Meeting & Convention followed by a special completion ceremony. 

Congratulations to the 2017 Emerging Leaders Class!

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Congratulations to the 2017 Credit Union Rock Stars

Brought to you by CUNA's Credit Union Magazine, and sponsored by Fiserv, the 2017 Credit Union Rock Stars have been unveiled! Each Rock Star embodies the credit union difference and demonstrates the tremendous impact a single individual can have on their credit union.

Congratulations to Clark Duncan (Fort Knox FCU) and David Deborde (Members Choice CU)! 

Duncan-Clark 1300Clark Duncan dedicated himself to his credit union work the way he did with every pursuit, and soon the short-term gig became a calling. “I decided that there are a lot of things I can do, and I’m just going to do those things to the best of my ability and be grateful for what I’ve been given,” he says.

He’s never looked back, and in barely three years he has grown from temp to transformer. If there’s a fast track to success, Duncan is on it.

Duncan, 25, has been a “Crasher” twice at CUNA Councils conferences—Marketing & Business Development and Lending—thanks to the scholarship program designed to bring millennial perspectives to industry events.

Those opportunities came after he reversed five years of negative loan growth in a single year with a new marketing plan and strategy at his first credit union.

Now the training coordinator at $1.4 billion asset Fort Knox Federal Credit Union in Radcliff, Ky., Duncan coaches his credit union colleagues to deepen and broaden their skill sets to better serve members and advance their own careers.

Read More

Deborde-David 1300David Deborde believes “people helping people” is more than a credit union motto; it’s a mindset.

“Everything we do is about member service,” he says. “We’re always asking, ‘How does this benefit members?’ because without members we don’t exist. Banks only want those with 750-and-above credit scores coming through their doors. We have a wide-open door to bring in members where they’re at and help them get to where they want to go.” 

When Members Choice needed to increase income to deal with hard times, one possible solution involved raising rates, notes Jenna Ramey, Deborde’s colleague.

“He argued, instead, we should be even more focused on member needs,” she says. “If we continued to treat our members better than anyone else, and improved upon our current service, we would weather the storm. We discovered by going all in on member service, we benefited our bottom line.”

To enable excellent service, Deborde created the “Customer Care Chain,” which Ramey says has transformed the way the credit union provides service. The Customer Care Chain earned an Excellence Award at the 2016 CUNA Operations & Member Experience Council Conference.

Read More




Cooperative TrustDo you want to Crash the GAC? Then you're in the right place!

The 2018 CUNA Governmental Affairs Conference (GAC) is February 25th - March 1st.  Crash the GAC 2018 is an event you SERIOUSLY don’t want to miss. The Cooperative Trust, CUNA, and the Kentucky Credit Union League are joining forces to get 1 Crasher to represent Kentucky at this year’s GAC.

Crashers receive conference registration from CUNA. Travel, lodging, and food costs are the responsibility of the Crasher and their credit union.

Take a deep dive into the world of credit union advocacy with more than 50 other Crashers at the biggest event of the year - your career will never be the same!

Submit your application by 11:59pm CST on November 28, 2017. Any questions? Email This email address is being protected from spambots. You need JavaScript enabled to view it. . Good luck!


Best Practices for Making Your Website a Digital Branch e-School

December 12-19, 2017

Your website is your most important branch but if it's not working as effectively as it should be, existing and potential members might choose to do their banking elsewhere. This online workshop will provide both practical advice and best practices from digital experts – exploring topics ranging from user experience, design, compliance, analytics tracking and more.

During this e-School, you will:


  • Discuss must-have and nice-to-have components of a "digital branch"
  • Explore best tactics to compete with national competitors and larger banks
  • Explore how to maximize and understand your website data

This is a great opportunity to gain real-world experience for addressing common website problems, planning your own website redesign and developing a phased plan for your digital branch.

This eSchool is endorsed by CUNA Marketing & Business Development Council Conference.




Young Professionals Advocacy Leaders Training in DC

By Patrick Yost, Park Community Credit Union

This CUNA pilot program, created in conjunction with NYCUA (New York Credit Union Association), was an idea that came up at GAC earlier this year.  It was developed to train young professionals on political advocacy and its importance.  There were around 50 of us in attendance.  The first day was networking with an optional golf scramble in the morning.  The second day was full of training and presentations on advocacy and preparing us to meet with members of Congress.  The third day was hiking the hill and taking part or seeing it all in action.  The Minnesota Credit Union Network let me join their Hike the Hill delegation. 

Day 2 training topics included developing relationships with legislators and their staff, the benefits of league and CUNA collaboration, and an overview of CUNA political programs such as MAP and Project Zip Code and how to use them effectively in grassroots and advocacy efforts.  There was also a panel discussion with congressional staffers on best practices when working and communicating with a congressional office.

One theme that seemed to appear in each presentation was communication.  There were topics on successful communication with state and federal legislators and their staff, communicating with leagues and CUNA, and on successful communication with your membership.  Aside from who to communicate with, there was a focus on what and how to communicate.  There was strong encouragement for credit unions to engage in storytelling, because of its effectiveness when communicating a message. 

My big takeaways from this training conference were:

  1. When talking to legislators:  Be clear, be prepared, know your topics, know your legislator, and don’t be shy with your request. Have stories that will show how legislation does/will impact your credit union.  Don’t get discouraged if they disagree.  Be prepared for some pushback.  If you find yourself at a standstill on one topic, move on to the next one.  Have more than one topic.  Your meeting will be around 15 minutes.  Make the most of it.
  2. You don’t always get to meet with your congressman/congresswoman.  You may end up talking to someone on their staff.  Treat them well.
  3. Constituents matter.  Legislators and their staff want to hear from constituents.  Constituents keep them employed.  They’ll blow by a lobbyist to speak to a constituent. 
  4. Meet with those that are on your side as well as the ones you want to bring over to your side. The banks are constantly lobbying against us.  They don’t think our tax exemption is justified and they certainly don’t want us to have less regulation.
  5. Don’t be shy when communicating with your membership on political advocacy matters.  Research shows that unsubscribe rates trend downwards as you send out more messages. They’ll be there for you when you need it if you keep them engaged.  One staffer's comment during a meeting was, “Your grassroots campaign on the Amodei/Aguilar Amendment for H.R. 3354 was enormous.  Don’t think that didn’t go unnoticed.  As you can see, we listened and that passed on a voice vote.”
  6. Tell your credit union’s story to everyone.  Talk about the credit union mission and how you fulfill it.  Share your philanthropy stories.  Show what you do in your community and why that makes you different from any bank out there.  The banks are irked by credit union exemption from CRA.  Show the public what we do without being forced to do it.
  7. Congressmen are home a lot.  Most go home on the weekends.  Target these times for town halls and site visits.

For me, witnessing the hill visits was an invaluable learning experience.  I will be using the classroom and hill visit experiences when writing or otherwise engaging with politicians and their staff.  The member communication points will be discussed with my fellow political advocacy committee members to review our current practices and work to implement any changes we think will be beneficial for us and our membership.



Ashland Credit Union’s First Student-Operated Branch Has Grand Opening

The first student-operated credit union powered by Ashland Credit Union is now open for business. Thirteen Fairview High School students celebrated the Grand Opening of Eagle Street Credit Union last month on Tuesday, September 12th.

Students in Fairview High School’s Financial Literacy class are getting hands-on experience with positions such as tellers, new accounts, loan officers and marketing through the new school Credit Union.

Participants submitted a resume and completed an interview with ACU. Students have been cross-trained in all areas of operation, privacy, and security. ESCU offers students and staff the ease of accessing checking, savings and mini loans at lunch right on campus.

The Credit Union is overseen by Fairview’s Financial Literacy teacher Angie Reihs. For more information about ACU’s new student Credit Union, contact Candace Stanley, Business Development Specialist, at 606.329.5454.


Commonwealth’s Shred Day

Commonwealth CU’s Louisville Road Branch teamed up with Paper Predator and local law enforcement to host their annual Community Shred Day on October 13, 2017. This year, 282 cars brought 12,640 lbs. of personal documents to be shredded safely and securely. This free event also served as a collection point for Backpack Snacks of Frankfort/Franklin County. This program provides a backpack of non-perishable food items to children who might not have food available outside of meals served during the school day.  More than $300 in monetary donations and numerous boxes of food items were collected during this event to aid the Backpack Snacks Program. 

Shred Day 2017



Fort Knox Federal 2017 Concert Series is a Wrap

The Fort Knox Federal Credit Union Concert Series wrapped up for 2017 with a performance by Sawyer Brown at the Historic State Theater in early September. The concert series included five performances from May through September and also featured Wynona Judd, Diamond Rio, Nitty Gritty Dirt Band and Delbert McClinton. 

As the primary sponsor of the 2017 concert series, the Credit Union partnered with the City of Elizabethtown and the Historic State Theater to help bring outstanding national performers to the local community. Fort Knox Federal also previously served as one of the annual City Concert’s primary sponsors.

“These events are an opportunity for the community to come together and enjoy good music in a treasured downtown venue. As a local, not-for-profit financial cooperative, Fort Knox Federal is proud to be a part of these types of successful downtown revitalization efforts,” said Becky Ates, Executive Vice President.



Fort Knox Federal Welcomes New Radcliff Branch Manager

Fort Knox Federal Credit Union is pleased to welcome Sharon Riehemann as its Radcliff Branch Manager. Riehemann is a banking professional with over 30 years of account management experience. She brings a passion for financial literacy, a strong history of community involvement, and a host of other skills to the credit union.

“We’re pleased Sharon has joined our team as Fort Knox Federal continues to grow by serving more civilian and military members,” says Becky Ates, Executive Vice President of Fort Knox Federal Credit Union. “As a local, not-for-profit financial cooperative, we are able to focus on building strong relationships with each member. Sharon’s account management and coaching skills will help us do just that.”

Riehemann has been active with Business Networking International (BNI) for 12 years and is currently starting a local chapter. Before moving to Elizabethtown to be closer to her parents and sister, Riehemann was involved with Junior Achievement, the Rotary Club and Kiwanis in Sarasota, Florida.

Riehemann has already embraced the credit union philosophy of “People Helping People” at Fort Knox Federal. “I love changing people’s lives. At Fort Knox Federal, we’re often able to save members hundreds of dollars a month through more affordable loan options with lower interest rates and payments,” says Sharon Riehemann, Radcliff Branch Manager of Fort Knox Federal Credit Union. “I also love the people at Fort Knox Federal. They have all been so welcoming and are true team players.”



Members Choice Wins CUNA Operations & Member Experience Council’s 2017 Excellence Awards Competition for Second Time

Members Choice’s entry, “Mr. Brightside, Employee-Driven Training & Procedure Portal,” in the Miscellaneous, Assets $150 Million - $500 Million category impressed the CUNA judges and has been selected as a winner in the CUNA Operations & Member Experience Council’s 2017 Excellence Awards competition.

“It is not often, a small credit union from Eastern Kentucky can take honors and receive Excellence awards for our ideas two years in a row.   Jenna Ramey is going strong and again putting Members Choice on the map.  Her entry was excellent (several managers pitched in on the entry) and, again, Members Choice won.  Thankful for a great group of managers, that never stops doing things to keep our name out in the community. Thankful for a Board that lets our management team be creative,” said Cheryl Deborde, MCCU President.



Park Community Credit Union Named in Business First’s Corporate Philanthropists List

On September 1st, Business First Louisville released a list of the Top 25 Corporate Philanthropists – Small Companies that included Park Community Credit Union.  The list is limited to companies in the Louisville metropolitan statistical area of Jefferson, Bullitt, Henry, Meade, Nelson, Oldham, Shelby, Spencer and Trimble counties in Kentucky and Clark, Floyd, Harrison and Washington counties in Indiana. The revenue category is for the local area. The list includes nonprofit organizations that are the philanthropic arms of companies. Other nonprofits or government entities are not included.



Park Community Credit Union Donates to CU Hurricane Relief

Park Community Credit Union announces that it has donated $10,000 to Puerto Rico hurricane relief. 

Park consulted with the National Association of Federal Credit Unions (NAFCU) and the Kentucky Credit Union League to determine where the funds could best be used. It was determined that the funds should be disbursed by the New York Credit Union Foundation. The Foundation earmarked the funds for Puerto Rico.  Since Hurricane Maria devastated Puerto Rico there is much work to be done to restore the system so the funds will be used entirely to help the Puerto Rican Credit Unions, employees, and volunteers.

Much of the island still does not have electricity and communication is difficult.  The credit unions have been operating on very limited hours.  Many of the staff lost their homes. Members need a way to get money so that they can take care of needs and many have no cash.  There are no armored trucks to carry cash and security is lacking.  There are no working ATM’s and they are having to record transactions and transport them manually to Banco Cooperative to clear. 

Living conditions are still very poor.  We hope that our effort will help credit union families on their long journey toward normalcy.



Park Community Supporting Local Charities

As part of their charitable giving, Park Community donated $3000 to God’s Outreach in Richmond.  This organization offers food to families and seniors in need in Madison County as well as supplying 2,200 backpacks of weekend food monthly to children at 17 area schools.

Park donated $5,000 to the Carnegie Center for Literacy and Learning. It provides innovative classes in computers, languages, writing & math for all stages of life.  They offer free books and many tutorial classes.  91% of the children are from minority families and 77% of the students are low income.  They work with 55 schools in the Bluegrass region.

Park donated $3,000 to the Children’s Advocacy Center of the Bluegrass.  They counsel and treat abused children. 

Park Charities



Join UK Federal Credit Union in Supporting the American Red Cross

Many have been following the news and seen the devastation caused by Hurricane Harvey and Hurricane Irma. Many have family and friends affected by the recent storms.  The University of Kentucky Federal Credit Union will match the donations of members dollar for dollar, up to $50,000, to the American Red Cross Bluegrass Area Chapter for hurricane relief.




Back to Basics: Is it Possible to Increase the APR on a HELOC Based on a Change in a Member's Credit Score?

Question: May a credit union increase the APR on a member's HELOC based on a change in the member's credit score?

Answer: No, a credit union may not increase the APR on a member's HELOC based on a change in the member's credit score or credit rating. Reg. Z, Section 1026.40(f), states that a creditor may not change the APR unless the change is based upon an index (such as the prime rate) that is not under the control of the creditor and the index is available to the general public. Otherwise, Reg. Z only permits a creditor to make changes that are:

  • Unequivocally beneficial to the borrower throughout the remainder of the plan,
  • Changes that are considered insignificant, or
  • A specified change if the borrower specifically agrees to it in writing at that time.

However, a creditor may provide in the account opening agreement that it may prohibit additional extensions of credit or reduce the credit limit during any period in which the maximum APR is reached and may also provide that specified changes will occur if a specified event takes place. For example, the APR may be increased a specified amount if the borrower leaves the creditor's employment. Furthermore, a creditor may change the index and margin if the original index is no longer available, the new index has a historical movement substantially similar to the original index, and the new index and margin would have resulted in an APR substantially similar to the rate in effect at the time the original index became unavailable.



Data Breach: Steps to Take After Your Information Has Been Stolen

If you have concerns about the Equifax® data breach, please visit Equifax's website or contact Equifax by phone at 866-447-7559. This is an Equifax incident and unrelated to Experian®.

Not everyone will be a victim of identity theft as a result of a breach, but keeping informed can help you lessen the risk when dealing with any data breach. When a breach does occur, you can take action by doing a few things.


Stay alert

If you have been part of a data breach, the breached company may send you a notice. Retain all documents and consider any suggestions they may have. Also, pay attention to and retain any mail you receive that is unfamiliar to you, such as notices from the IRS regarding your taxes or any bills from unknown lenders.

Monitor your financial accounts

Visit your online bank and financial accounts, and set up any alert features they may have, if you have not already done so. This could help save some time and keep you notified of any unusual events when they occur.

Monitor your credit reports

You can check your credit report from each bureau for free once every twelve months by visiting Checking your credit report can help you identify any unusual activity, such as new accounts, new personal information or inquiries. If you would like to keep a closer eye on your credit, you can also get a free Experian credit report, which will be updated once every 30 days on sign in.


Place a free fraud alert on all three credit files

You can place a fraud alert for free with ExperianEquifax or TransUnion®. When you request that a fraud alert should be added with any of the three major credit bureaus, the bureau you contacted will notify the other two and alerts will be added with those bureaus as well. A fraud alert (also known as an initial security alert) will warn lenders that you may have been a fraud victim. This extra precaution will notify the potential lender that they should take additional steps to verify your identity before granting any new line of credit in your name. The fraud alert will stay on your credit report for 90 days, and you can renew it when it expires. You can find more information about the differences between a fraud alert and a freeze in our article What Is the Difference Between a Credit Freeze and Fraud Alert?


Freeze or lock your credit file

Freezing or locking your credit will prevent lenders and others from accessing your Experian credit report in response to new credit applications. This may include mortgages, refinances, auto loans, cell phone financing, rental agreements, and the establishment of utilities such as gas and electric services. A frozen or locked credit file may also prevent credit checks that are carried out during job offers and insurance applications, as well as impacting your ability to use systems that leverage Experian’s identity verification services.

Lock your Experian credit file with Experian IdentityWorks™

If you are a member of Experian IdentityWorks, you can lock and unlock your Experian credit file at any time from your browser or on the go with our mobile app. Experian IdentityWorks will send you real-time notifications when someone attempts to access your Experian credit report.

Freeze your credit file

You may consider adding a security freeze. Once frozen, your credit report will only be accessible by unfreezing your file with the correct PIN, which you should keep in a safe place. Learn more about freezing your Experian credit report. Fees and requirements for adding and removing a freeze vary by state. Security freezes must be placed separately with each credit bureau: ExperianEquifax and TransUnion.




CFPB Issues Proposed Policy Guidance on the Disclosure of Loan-Level HMDA Data

On September 8th, the Consumer Financial Protection Bureau (CFPB) issued proposed policy guidance regarding the disclosure of loan-level HMDA data. 

In 2015, the CFPB finalized several amendments to Regulation C (HMDA) that take effect January 1, 2018. Among these, institutions subject to HMDA will begin collecting and reporting several new data points next year. Because HMDA generally requires this data to be made publicly available, the Dodd-Frank Act of 2010 required the CFPB to engage in a balancing test to determine what data should be modified and/or excluded prior to disclosure to protect applicant/borrower privacy. 

Proposed Policy Guidance
The CFPB proposes to EXCLUDE the following loan-level HMDA data from public availability:

  • Universal Loan Identifier (ULI);
  • Application date;
  • Data action was taken on the application/loan;
  • Property address;
  • Credit score of the applicant;
  • NMLSR unique identifier of the mortgage loan originator;
  • Any result generated by an automated underwriting system used by the credit union; and
  • The following free-form text fields:
    • The name of any automated underwriting system used by the credit union;
    • The applicant's race and ethnicity;
    • The name of any scoring model used by the credit union to generate a credit score used in connection with the application; and
    • Denial reasons.

Click here to read the rest of the blog post!



NCUA Publishes Letter to Credit Unions FAQ on New Accounting Standards

NCUA recently published Letter to Credit Unions 17-CU-05 announcing additional frequently asked questions related to FASB's new accounting standard on Financial Instruments – Credit Losses.  Questions 24 – 37 have been added to the list of questions that were released in December 2016. The regulatory reporting effective date for credit unions is December 31, 2021. 

Web Content Accessibility Guidelines (WCAG 2.0)

As most of you are aware, we remain in a holding pattern when it comes to the Department of Justice (DOJ) issuing website accessibility regulations under Title III of the Americans with Disabilities Act (ADA). Waiting for official regulations, however, is no longer an option as the number of lawsuits alleging inaccessible websites continues to grow. 

In the absence of regulations, credit unions have asked what technical standard they should use since current Title III regulations do not specify a standard for accessible websites. The gold standard is the Web Content Accessibility Guidelines (WCAG) 2.0, developed by the World Wide Web Consortium (W3C). The W3C is an international community that "develops open standards to ensure the long-term growth of the Web."    

So, where do you get started? The WCAG 2.0 is a technical standard written for web developers. But there are a number of non-technical explanatory resources available on the consortium's website as well. Additional resource links appear below, but you may want to begin with Easy Checks - A First Review of Web Accessibility. Then move on to Tips for Getting Started with Web Accessibility, which includes: 

  • Designing for Web Accessibility: tips for user interface and visual design.
  • Writing for Web Accessibility: tips for writing and presenting content.
  • Developing for Web Accessibility: tips for markup and coding. 

The United States Access Board adopted WCAG 2.0 as its accessibility standard for federal agency websites in January 2017 (note: these are not DOJ Title II regulations for public entities -- they're on hold as well). So, it's quite likely that the DOJ will also adopt this standard for non-agency websites whenever it gets around to issuing Title III regulations for "public accommodation" websites. However, please note that WCAG 2.1 is currently under development and is scheduled to be published as a standard sometime in 2018.  So, these standards will be tweaked in the future. Nevertheless, it's a good idea to evaluate and create a plan of action for your website sooner rather than later to bolster your credit union against the recent flood of ADA web-related lawsuits. 


W3C Web Accessibility Initiative (WAI)

United States Access Board

CUNA News Now: CUNA, leagues push for ADA website guidance from DOJ (10-11-17)

CompBlog Post: ADA Website Accessibility: Common Problems and Solutions (2-8-17)



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Kentucky Credit Union League
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Louisville, KY 40218

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