To our member credit unions, we provide legislative advocacy, regulatory support, training and staff development opportunities, networking, and business support services.
In conjunction with a variety of strategic business partners, the Association develops, markets and provides members with access to affordable back-office support products and services. The Association remains committed to its mission of assisting credit unions in any way possible with improving their overall level of service to members and Vermont consumers.
- IRS Accepting UBIT Verdicts Clears Way for Refunds
Credit unions have received a much-sought-after interpretation by the Internal Revenue Service that clears nearly all credit union products from being subject to unrelated business income tax (UBIT). Finally bowing to the results of two federal court cases brought by credit unions, the IRS recently issued a memorandum that defines nearly all credit union products at stake in the litigation as "substantially related income" – not subject to UBIT. ... read more
- Have Your Members Asked About the Heartbleed Bug Yet?
Several Vermont credit unions already have notifications up on their websites to reassure members that their site and online banking services are not affected by the “Heartbleed bug”. The FFIEC has recommended that financial institutions should monitor their third party vendors to ensure they are progressing toward addressing related vulnerabilities. AVCU has confirmed that Compliance InfoSight is not affected, nor is our website which isn’t encrypted and requires no login. So if your credit union hasn’t yet researched this vulnerability to the encryption software used by an estimated 67% of all websites in existence, it needs to do so immediately, especially where access to financial data is concerned. ... read more
- Vermont Attorney General Urges Congress to Address Patent Troll Demand Letters
On Tuesday, Vermont Attorney General Bill Sorrell, at the request of Congressman Peter Welch, testified before a subcommittee of the U.S. House of Representatives’ Committee on Energy and Commerce to urge Congress to take steps to address the growing issue of unfair and deceptive patent demand letters. The hearing was convened to examine the problem of companies sending demand letters that are unfair and deceptive, particularly to small businesses and non-profits. In addition to better understanding the problem, the goal of the hearing was to explore ways to prevent abusive patent demand letters, while preserving the right of legitimate businesses to use demand letters to negotiate licenses to their inventions. ... read more
- Save the Date: VCUGC Scheduled for Monday, June 16th at VNCC
AVCU is pleased to announce that the 2014 Vermont Credit Union Golf Challenge (VCUGC), which benefits the Vermont Chapter of the March of Dimes, will be held on Monday, June 16th at a brand new location for our tournament … Vermont National Country Club in South Burlington. ... read more
- Annual Meeting Silver Sponsor - CU Members Mortgage
AVCU business partner CU Members Mortgage is the next Annual Meeting silver sponsor we’d like to reocgnize and thank. They are underwriting breakfast on Saturday, which will include the Director’s Roundtable Breakfast, as well as the morning coffee break between education general sessions. We greatly appreciate the ongoing support which CU Members Mortgage provides to our convention. ... read more