Small credit unions feel pinch of regulatory burden

first_img 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Ron JoossCEOs of small credit unions wear a lot of hats. It comes with the territory.“Some days you might find me working the drive-thru if we’re busy,” Anne Heggelund, president of Marathon County Employees CU, Wausau, Wis., told News Now. “Other times I’ll jump on the teller line.”The hat small credit union CEOs are most likely to don these days would be labeled “Compliance.” And with that hat usually comes a major headache.Since the beginning of the financial crisis, credit unions have been subjected to more than 190 regulatory changes from at least 15 different federal agencies resulting in more than 6,000 Federal Register pages to review and implement, according to CUNA’s Department of Economics and Statistics. There also have been other changes such as extensive and ongoing modifications to the National Credit Union Administration 5300 Call Report and examiner demands for implementation of a wide variety of best practices.Credit unions of all sizes are feeling the regulatory burden, and it stands to reason that smaller credit unions especially feel the pinch. continue reading »last_img read more

Ripley Co. Community Foundation Awards 20 Grants

first_imgBATESVILLE, Ind. – The Ripley County Community Foundation is announcing the 20 recipients of its fall granting cycle.Grantees include community organizations including schools, a food bank and non-profits.Organizations that received funding from the Foundation this cycle:Angels of Giving is receiving $3000 for yearly support.Batesville Area Historical Society is receiving $2,300 to install a security system.Batesville Youth Football is receiving $2,500 for an equipment refresh project.Gleaners Food Bank is receiving $5,000 for the “BackSacks: Weekend Food for Kids” program.Historic Hoosier Hills is receiving $5,000 for “Take the River” 60 minute film airing on PBS.Indiana Youth Institute is receiving $3,000 for a Ripley County youth worker café.Lifetime Resources is receiving $5,000 to replace a Catch-A-Ride vehicle.Milan ’54 is receiving $4,000 for a technology project with the player lockers.Moving MES Forward is receiving $2,500 for renovation of the Nurse’s station.Oldenburg Academy is receiving $740 for improving customer service at Twice Blessed.Ripley County Probation Department is receiving $5,000 for an intensive outpatient substance abuse program.Southeastern Indiana YMCA is receiving $4,300 to update fitness equipment.Southeast Indiana Health Center is receiving $2,778 for charity/emergent use medication supply.Versailles Fire & Rescue is receiving $2,880 for a hose testing machine and accessories.Batesville Community Church is receiving $2,145 for conference tables.Explore 2 Learn Children’s Museum is receiving $5,000 for promotional materials.Margaret Mary Health is receiving $2,500 for green fees at the First Tee program.Safe Passage is receiving $5,000 for educational materials.Town of Osgood is receiving $5,000 for Osgood Trails fitness equipment project.Versailles Lions Club is receiving $5,000 for Tyson Activity Center programs and activities.The Foundation has granted over $115,000 to Ripley County organizations this year. There is one more granting cycle this year, for grants limited to $500 or less. Applications can be turned into the RCCF office by November 7.RCCF Executive Director Sally Morris is retiring at the end of the year and a reception will be held at the foundation office located at the Romweber Building in Batesville on Friday, Nov. 7. The community is welcome to attend the show scheduled for 2 p.m. to 5 p.m.last_img read more