September 9, 2013
Monday Edition
eSignal Daily's debut

Please welcome the new eSignal Daily to your inbox. With the new daily edition of eSignal the League will be able to provide members more concise and timely information in a more interactive and reader-friendly format. Enjoy. 

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President's point

Today marks the debut of our new eSignal daily format. The plan is to give you up-to-date and breaking information in an easy to read, short format. Please let me know what you think as we look to improve the content and delivery. This past week the Call Report data was released for the second quarter. Once again, Alabama and Florida credit unions saw a jump in membership. Alabama has a new record number of members with 1.862 million. This is the 12th straight quarter for record membership. Florida saw a rise in membership for the second straight quarter. Florida credit unions have 4.65 million members. That’s the highest number of members in almost a year.

Assets continue to climb in Florida. There was a slight gain of $105 million, but that pushes assets to a record high of $47.3 billion. In Alabama, credit unions actually were down about four million in assets. This was the first decrease in assets in Alabama in more than 11 quarters. This is a national trend, since collectively credit unions across the country were basically flat.

I know that many credit unions would say that their loan volumes continue to be flat. I’ll break that out a little for the second quarter. On collective net loans, Alabama credit unions added $125 million, including $12 million in new member business loans. This is slightly below the national credit union average for new MBLs. In Florida, $494 million in new loans were booked including $81 million in new MBLs. Florida’s MBL growth rate is more than two-percent higher than the national average and the overall loan growth is higher than the national average. For Florida, this is a great trend, considering during the Great Recession loan growth was negative.

Another trend we’ve seen over the past four years is a decrease in delinquent loans and net charge offs in both states. For Florida, in the past four years, delinquent loans and net charge offs have nearly been cut in half. In Alabama, delinquent loans and net charge offs were flat over the past four years. We’re starting to see that trend down. Plus, loan loss provisions in both states are falling. Alabama is below the national credit union average, while Florida has seen nearly a two-percent drop in four years; a great sign.

Finally, a statistic that really is underrated in both states is the number of full time employees. Florida credit unions added 400 new employees, year over year, for the quarter. Alabama credit unions added 33. This clearly shows that credit unions are beginning to hire to meet expected new loan demand and reinstate some positions that were eliminated during the recession. Excellent information for our Hike the Hill visits this week. We can show we are growing, helping our communities and hiring. Not many industries and businesses can say that. We’ll push these numbers out this week to our media across both states.

Where’s Patrick: League staff and credit unions head to Washington, D.C. this week for our annual Hike the Hill. That will take place Tuesday and Wednesday. On Friday, the LSCU Governance Committee meets. To see my schedule for the next two weeks, click here.

To view the President's Quarterly Message, visit the LSCU Video Room.

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Don't Tax Tuesday - tomorrow

CUNA and state leagues are holding a #DontTaxTuesday Social Media Campaign tomorrow, Sept. 10. Tomorrow Tweet your representative or senator with the hashtag #DontTaxMyCU or post a similar message on your lawmaker’s Facebook page. Engaging is easy—just visit Don't Tax My Credit Union to post a Tweet or Facebook message to your legislators in a few short clicks.

Remember to include #DontTaxMyCU in your posts.

Visit LSCU Top Stories for more information.

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NCUA looks at advertising requirements

CUNA feels that the NCUA’s letter to federal credit unions on “common bond advertising requirements” is showing concern when most credit unions are properly following the law and the agency’s rules on the matter.

The NCUA’s letter addresses “some overly aggressive marketing campaigns by federal credit unions to facilitate membership through associational groups.” The letter indicates that these credit unions “are providing consumers with misleading information about single and multiple common bond membership requirements.”

CUNA believes the individual credit unions that are doing this should have the issue brought up during exams. Plus, credit union members and consumers are not adversely affected. However, it appears the American Bankers Association has written the NCUA on this issue. Given the recent substantial membership growth among credit unions, it is conceivable the bankers’ motivation for raising this issue is to address complaints by ABA members about more consumers flocking to credit unions – and leaving banks behind.

Read more by clicking here. The letter does not pertain to state chartered credit unions.

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Getting graphic

More consumers today digest their information in small bites. Long stories are often overlooked because today's consumer does not take the time to read. Infographics have become popular in the past 12 months. Financial Brand recently had an infographic on Dollars and Sense. Do you know how consumers view money and what they believe are their trouble spots? Do you know how teens feel about money?

The Financial Brand infographic is rich with consumer financial data. This is the perfect graphic to share with your membership through Facebook and Twitter as well as share with your front line staff.

Throughout the month, eSignal Daily will feature "Getting Graphic" to alert you to those fun infographics that will impact your credit union. 

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In This Issue
Monday Edition
eSignal Daily's debut
President's point
Don't Tax Tuesday - tomorrow
NCUA looks at advertising requirements
Getting graphic
LSCU & Affiliates Media


CEOs talk tax reform
Alabama and Florida credit unions talk about the "real" threat behind tax reform and what all credit unions should be doing before a bill is introduced.

 


LDC preview:
Jan Hargrave on body language
Body language expert Jan Hargrave will provide the Closing General Session keynote address at the Leadership Development Conference, Nov 6-8 in Point Clear, AL
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Upcoming League Events
Sept. 10  Regulatory Compliance Update, Tallahassee
Sept. 10  CFPB Examination Procedures for Mortgage Loan Originators: Effective January 10, 2014
Sept. 11  Frontline Excellence Series: Detecting Counterfeit Items & Fraudulent ID
Sept. 12  Regulatory Compliance Update, Birmingham
Sept. 12  Handling Member Credit Report Disputes
Sept. 17  Directors & Financial Literacy Session 2: Monitoring & Measuring the 9 Risks Your Credit Union Faces
Sept. 18  Mandatory Compliance Series: Compliance Rules Deposit Operations Must Know
Sept. 19  Skip Tracing Tools & Techniques
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