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ALBANY, N.Y. –Legislation that protects federal stimulus money for individuals and families in New York from levies and restraints and which has the strong support of the state’s credit unions has been signed into law by Gov. Andrew Cuomo. Separately, the Fed has OK’d an extension of a rule change that allows financial institution directors to apply for PPP loans.

EAST HARTFORD, CONN.—Dean Marchessault, president and CEO of the $2.3-billion American Eagle Financial CU, has announced he plans to retire at year-end. The credit union has named a successor.

WASHINGTON–In a twist,  two bank trade groups are calling on the FDIC to reject the acquisition of a bank by a credit union,  arguing the deal would “cut regulatory safeguards for low- and moderate-income consumers.”

WASHINGTON–Credit unions are going to need to join with other employers for what many analysts are describing as the pending “wage jolt.”

WASHINGTON—NCUA should finalize pending rulemakings aimed at providing credit unions regulatory relief as soon as possible, CUNA President/CEO Jim Nussle wrote members of the NCUA board. 

ALEXANDRIA, Va.—When the NCUA board meets this week it is scheduled to issue a final rule on derivatives and will also receive its quarterly briefing on the National Credit Union Share Insurance Fund (NCUSIF). 

MADISON, Wis.—Summit Credit Union has announced the winner of its Project Teen Money 2021 program, the annual financial education and scholarship challenge encouraging students to discover, develop and teach their peers healthy money management habits. 

DENVER– Westerra Credit Union has awarded 47 grants to extremely valuable and worthwhile causes during what has been a unique school year.

HANSCOM AFB, Mass. – Hanscom Federal Credit Union presented a check for $1,500 to On-Site Academy on behalf of the Armed Forces Financial Network (AFFN).